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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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.
How many Erie Indemnity deferred share credits does the ERIE director hold after the transaction?
After the reported transaction, Salvatore Correnti holds 2,686.654 Directors' Deferred Compensation Share Credits, each representing the right to receive one Erie Indemnity Class A common share when his board service ends.
What price was used for the ERIE deferred compensation share credits?
The 14.375 Directors' Deferred Compensation Share Credits were credited using a reference price of $279.9 per credit, as part of dividend reinvestment in the 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.
How many Erie Indemnity Class A common shares does the ERIE director own directly?
In addition to deferred share credits, Salvatore Correnti directly holds 320 shares of Erie Indemnity Company Class A common stock following the reported transaction.
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.