Erie Indemnity (ERIE) EVP reports 401(k) share move and deferral credits
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Erie Indemnity Company Executive Vice President Cody Cook reported an administrative share movement rather than a traditional open-market trade. A participant-directed transaction under the company 401(k) plan affected 4.935 Class A common shares at $269.44 per share, bringing his directly held Class A common stock to 1,120.880 shares.
The filing also updates his position in Incentive Compensation Deferral Plan Share Credits, which rose to 1,276.289 share credits. These credits represent the right to receive an equivalent number of Class A shares upon retirement or separation from the company and have no exercisable or expiration dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Cook Cody
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock | 4.935 | $269.44 | $1K |
| holding | Incentive Compensation Deferral Plan Share Credits | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,120.88 shares (Direct);
Incentive Compensation Deferral Plan Share Credits — 1,276.289 shares (Direct)
Footnotes (1)
- Participant directed transaction under 401(k) Plan. Conversion price is not applicable to shares granted under the Erie Indemnity Company Incentive Compensation Deferral Plan. The shares subject to this reporting are Share Credits which are periodically credited to the accounts of a select group of management and highly compensated employees of Erie Indemnity Company pursuant to its Incentive Compensation Deferral 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 retires or otherwise separates from service with the Company. There are no exercisable or expiration dates for these securities.
FAQ
What insider activity did Erie Indemnity (ERIE) report for Cody Cook?
Erie Indemnity reported an administrative transaction for Executive Vice President Cody Cook involving 4.935 Class A shares under a 401(k) plan and an updated balance of 1,276.289 Incentive Compensation Deferral Plan share credits, rather than a typical open-market purchase or sale.
Was the Erie Indemnity Cody Cook Form 4 a buy or sell transaction?
The filing records an “other” type transaction, not a standard buy or sell. It reflects a participant-directed 401(k) plan movement of 4.935 Class A shares and an updated balance of deferred share credits under the company’s Incentive Compensation Deferral Plan.
What does the 401(k) plan reference mean in Cody Cook’s Erie Indemnity Form 4?
A footnote explains the activity as a participant-directed transaction under Erie Indemnity’s 401(k) plan. This means the movement of 4.935 Class A shares at $269.44 per share occurred within the retirement plan framework, not as a typical market trade.