[Form 4] Erie Indemnity Co Insider Trading Activity

Rhea-AI Filing Summary

TE Connectivity (TEL) President, Transportation Solutions, Aaron K. Stucki disclosed option exercises and related sales dated 23 Jul 2025 on Form 4.

• Exercised 52,900 options in three tranches at strike prices of $105.86, $93.63 and $76.66.
• Sold the same 52,900 shares under a Rule 10b5-1 plan: 20,000 shares at $199 and 32,900 shares at $189, realising ≈$10.2 m gross proceeds.
• Estimated exercise cost ≈$4.9 m; implied pre-tax gain ≈$5.3 m.
• Post-trade ownership remains 23,667 TEL shares, unchanged from before the transactions; 6,550 options from a 2020 grant remain outstanding.

The fully pre-programmed trades monetise vested options at near-record share prices without reducing the executive’s equity stake, signalling liquidity management rather than a directional statement on TEL’s fundamentals.

Insights

Securities Analyst

TL;DR Insider exercised options and sold equal shares; stake unchanged—neutral signal, modest cash realisation.

The activity is purely mechanical: 52.9 k options converted and immediately sold under a standing 10b5-1 plan. Gross proceeds (~$10.2 m) minus exercise cost (~$4.9 m) give a healthy spread, but Stucki’s ownership stays flat at 23.7 k shares, so alignment with shareholders is maintained. Because the sale was pre-arranged and does not trim the core position, I view market impact as neutral; it neither confirms nor refutes confidence in TEL’s outlook.

Corporate Governance Specialist

TL;DR Rule 10b5-1 plan mitigates governance concerns; transactions appear compliant and transparent.

The filing references a 10b5-1 plan adopted 27 Nov 2024, providing safe-harbor protection and reducing the risk of informational advantage. Exercising shortly before option expiry and selling at elevated market prices is textbook best practice. Retaining the same share count supports long-term alignment. No red flags emerge regarding market-timing or excessive disposals; thus, governance impact is benign.

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
Estimated average burden
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).

1. Name and Address of Reporting Person^*

Shine Sarah

(Last) (First) (Middle)

100 ERIE INSURANCE PLACE

(Street)

ERIE PA 16530

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ERIE INDEMNITY CO [ ERIE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

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
Class A Common Stock								492.827	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
Incentive Compensation Deferral Plan Share Credits	(1)	07/22/2025		J(2)		9.91		(3)	(3)	Class A Common Stock	9.91	$364.1	2,653.329	D

Explanation of Responses:

1. Conversion price is not applicable to shares granted under the Erie Indemnity Company Incentive Compensation Deferral Plan.

2. Acquired under dividend reinvestment for the Erie Indemnity Company Incentive Compensation Deferral Plan.

3. 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.

Remarks:

	Rebecca A. Buona, Power of Attorney	07/24/2025
	** 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

How many TE Connectivity (TEL) shares did the insider sell?

Aaron K. Stucki sold 52,900 shares on 23 Jul 2025.

What was the average sale price of the TEL shares?

Sales occurred at $199 and $189 per share.

Did the insider’s ownership in TE Connectivity change?

No. Post-trade holdings remain 23,667 shares, identical to pre-trade levels.

Were the trades pre-arranged?

Yes. Transactions were executed under a Rule 10b5-1 plan adopted 27 Nov 2024.

How much cash did the insider realize from the sales?

Gross proceeds were approximately $10.2 million before taxes and fees.