Erie Indemnity (ERIE) director gains 14.375 deferred share units
Rhea-AI Filing Summary
Erie Indemnity Company director Salvatore Correnti reported a routine equity compensation update. On January 21, 2026, he acquired 14.375 Directors' Deferred Compensation Share Credits under the company’s Outside Directors' Deferred Compensation Plan through dividend reinvestment at a reference price of $279.9 per credit. These share credits represent the right to receive an equivalent number of Class A common shares when his board service ends and do not have traditional exercise or expiration dates.
Following this transaction, Correnti holds 2,686.654 deferred share credits and 320 shares of Erie Indemnity Class A common stock directly.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Directors' Deferred Compensation Share Credits | 14.375 | $279.90 | $4K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan. Acquired under dividend reinvestment for Directors' Deferred Compensation Plan. The shares subject to this reporting are Share Credits which are periodically credited to the accounts of certain Directors of Erie Indemnity Company pursuant to its Outside Directors' Stock Plan. These Share Credits represent the right to receive an equivalent number of shares of Erie Indemnity Company Class A common stock when the reporting individual's service as a Director of the Company ends. There are no exercisable or expiration dates for these securities.
FAQ
What insider transaction did ERIE director Salvatore Correnti report?
Salvatore Correnti, a director of Erie Indemnity Company (ERIE), reported acquiring 14.375 Directors' Deferred Compensation Share Credits on January 21, 2026 under the company’s Outside Directors' Deferred Compensation Plan.
Does the ERIE director’s deferred compensation have an exercise or expiration date?
The filing states that these Share Credits have no exercisable or expiration dates. They represent the right to receive an equivalent number of Erie Indemnity Class A common shares when the director’s service with the company ends.
What is the nature of the ERIE director’s transaction code J on the Form 4?
The derivative transaction is coded “J”, and the footnotes explain that the 14.375 share credits were acquired under dividend reinvestment for the Directors' Deferred Compensation Plan.