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

Rhea-AI Filing Summary

Allison M. Wing, a director of Casey's General Stores Inc. (CASY), reported equity transactions on 09/03/2025 and 09/04/2025. On 09/03/2025 Ms. Wing received 442 shares of Common Stock at no cash price, reflecting the vesting/conversion of director equity awards, increasing her beneficial ownership to 3,572 shares, which includes 72 shares acquired through the dividend reinvestment plan. On 09/04/2025 she was granted 326 restricted stock units (RSUs) under the 2025 Stock Incentive Plan; each RSU represents the right to one share and the 326-RSU award will vest in full on the date of Casey's 2026 annual shareholders meeting. The 442-RSU award from the 2018 plan vested in full on the date of Casey's 2025 annual shareholders meeting. Transactions were executed under reported codes and the Form 4 was signed under power of attorney on 09/05/2025.

Positive

• Director alignment: New RSU grant and vested shares increase the reporting director's equity stake, aligning interests with shareholders.
• Timely disclosure: Form 4 filed and signed under power of attorney within days of transactions, showing compliance with reporting rules.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine director equity vesting and a new RSU grant; increases alignment with shareholders but is not financially material.

The Form 4 discloses a non-employee director equity event: conversion/vesting of a 2018 RSU award producing 442 shares and a new grant of 326 RSUs under the 2025 Stock Incentive Plan that vests at the 2026 annual meeting. Beneficial ownership after the vesting is 3,572 shares (including 72 via DRIP). All issuances show a $0 price, which is typical for vested compensation awards rather than open-market purchases. For investors, this is a routine governance/compensation disclosure that signals continued director alignment with equity-based incentives but does not represent a material transfer of economic risk or major insider accumulation or disposition.

Corporate Governance Expert

TL;DR: Disclosure reflects standard non-employee director compensation practices and timely SEC reporting under Section 16.

The filing documents standard practices: annual RSU grants and vesting tied to shareholder meetings and a small DRIP holding. The 326-RSU grant’s vesting schedule (vesting at the 2026 annual meeting) aligns director incentives with multi-year shareholder outcomes. The prompt filing and use of power of attorney for signature indicate procedural compliance. There are no red flags such as large open-market sales, unusual transfer timing, or unexplained derivative activity.

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^*

Wing Allison M.

(Last) (First) (Middle)

44915 N. EL MACERO DR.

(Street)

EL MACERO CA 95618

(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	3,572(1)	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	(2)	09/04/2025		A		326		(3)	(3)	Common Stock	326	$0	326	D
Restricted stock units	(2)	09/03/2025		M			442	(4)	(4)	Common Stock	442	$0	0	D

Explanation of Responses:

1. Includes 72 shares acquired through dividend reinvestment plan.

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

3. 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.

4. 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 insider transactions did Allison M. Wing report for CASY?

Ms. Wing reported receipt of 442 Common Stock shares on 09/03/2025 and a grant of 326 RSUs on 09/04/2025; the 442 shares reflect vested director awards and the 326 RSUs vest on the date of the 2026 annual shareholders meeting.

How many CASY shares does Allison M. Wing beneficially own after the transaction?

She beneficially owns 3,572 shares following the reported transactions, which includes 72 shares from a dividend reinvestment plan.

Were any of the reported CASY shares acquired or sold at market price?

No cash price was reported ($0), indicating the shares were issued on vesting or granted as compensation rather than purchased on the open market.

When will the newly granted 326 RSUs for CASY vest?

The 326 RSU award vests in full on the date of Casey's 2026 annual shareholders meeting.

Who signed the Form 4 reporting Allison Wing's transactions?

Scott Faber, under a Power of Attorney dated March 5, 2018, signed the Form 4 on 09/05/2025.