[Form 4] Casey's General Stores Inc Insider Trading Activity

Rhea-AI Filing Summary

Donald Frieson, a director of Casey's General Stores, reported purchases and restricted stock unit activity. On 09/03/2025 he acquired 442 shares of Common Stock, bringing his direct beneficial ownership to 4,054 shares. The Form 4 also reports restricted stock unit activity: 442 RSUs vested on 09/03/2025 (under the 2018 Stock Incentive Plan) and 326 RSUs were granted on 09/04/2025 under the 2025 Stock Incentive Plan; each RSU represents the right to one share and the 326-RSU award vests in full at Casey's 2026 annual shareholders' meeting.

Positive

• Director purchased shares, acquiring 442 shares on 09/03/2025, increasing direct ownership to 4,054 shares
• New director RSU grant of 326 restricted stock units under the 2025 Stock Incentive Plan that vests in full at the 2026 annual meeting
• Prior RSUs vested (442 RSUs under the 2018 Stock Incentive Plan vested on 09/03/2025), converting to ownership

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received RSU grant and completed vesting of prior RSUs, aligning equity with board service.

The filing shows routine director compensation and a small open-market purchase. The 326 RSU grant under the 2025 Stock Incentive Plan vests in full at the 2026 annual meeting, indicating single-date vesting for non-employee directors. The 2018-plan RSUs vested on 09/03/2025, consistent with prior plan terms. The reported transactions appear procedural and consistent with standard director equity practices.

Securities Analyst

TL;DR: Insider added 442 shares and recognized 326 new RSUs; overall holdings remain modest.

The Form 4 records an acquisition of 442 common shares on 09/03/2025 (price reported as $0 in filing format for certain plan-related entries) and the grant of 326 RSUs on 09/04/2025. Post-transaction direct ownership is reported as 4,054 shares plus 326 RSUs outstanding. These amounts are small relative to typical issuer float and represent personal alignment but are not shown as material in size within this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Frieson Donald

(Last) (First) (Middle)

8406 BROADSTONE COURT

(Street)

BRADENTON FL 34202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CASEYS GENERAL STORES INC [ CASY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		M		442	A	$0	4,054	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted stock units	(1)	09/04/2025		A		326		(2)	(2)	Common Stock	326	$0	326	D
Restricted stock units	(1)	09/03/2025		M			442	(3)	(3)	Common Stock	442	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents the right to receive, following vesting, one share of Common Stock.

2. Non-employee director equity compensation pursuant to terms and conditions of 2025 Stock Incentive Plan. This award will vest in full on the date of Casey's 2026 annual shareholder's meeting.

3. Non-employee director equity compensation pursuant to terms and conditions of 2018 Stock Incentive Plan. This award vested in full on the date of Casey's 2025 annual shareholder's meeting.

Remarks:

	Scott Faber, under Power of Attorney dated March 5, 2018	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Donald Frieson report on the Form 4 for CASY?

He reported acquiring 442 shares of Common Stock on 09/03/2025 and restricted stock unit activity including 442 RSUs that vested on 09/03/2025 and a grant of 326 RSUs on 09/04/2025.

How many shares does Frieson beneficially own after the reported transactions?

Direct beneficial ownership is reported as 4,054 shares following the 09/03/2025 acquisition; additionally 326 RSUs are outstanding from the 09/04/2025 grant.

When do the newly granted RSUs vest?

The 326 RSUs granted under the 2025 Stock Incentive Plan vest in full at Casey's 2026 annual shareholders' meeting according to the filing.

What does each restricted stock unit represent?

Each RSU represents the right to receive one share of Common Stock following vesting, as stated in the Explanation of Responses.

Was the Form 4 filed jointly or by a single reporting person?

The Form 4 was filed by one reporting person, as indicated on the form.