[Form 4] Erie Indemnity Co Insider Trading Activity

Rhea-AI Filing Summary

River Road Asset Management, LLC filed Amendment No. 2 to Schedule 13G disclosing its current ownership position in Park Aerospace Corp. (PKE).

• Shares held: 976,678 common shares
• Voting power: Sole – 909,868; Shared – 0
• Dispositive power: Sole – 976,678; Shared – 0
• Ownership percentage: 4.9 % of outstanding shares

Because River Road’s stake has fallen below the 5 % threshold, the filer has marked Item 5 (“Ownership of 5 percent or less of a class”). The filer is registered as an investment adviser (IA) and certifies that the shares are held in the ordinary course of business, without intent to influence control of the issuer. The date of the event triggering this filing is 31 Jul 2025; the filing was signed by COO/CCO Thomas D. Mueller on 1 Aug 2025.

Key takeaway for investors: River Road remains a meaningful institutional holder but has marginally reduced its position, signaling a lighter commitment and removing the filer from the ranks of 5 % beneficial owners.

Insights

Portfolio Manager

TL;DR – River Road trimmed PKE below 5 %; neutral-to-slightly negative signal.

The filing confirms that River Road now owns 4.9 % of Park Aerospace, versus a prior level above 5 %. A high-conviction position has therefore been pared, suggesting reduced enthusiasm or portfolio rebalancing. While a 4.9 % stake still indicates institutional confidence, the loss of 5 % status removes certain reporting obligations and may indicate incremental selling pressure. No control motives are stated. Overall market impact should be modest given the small absolute change but could be interpreted as mildly bearish by investors tracking institutional flows.

Corporate Governance Analyst

TL;DR – Ownership dip lowers governance influence; impact limited.

Dropping below 5 % means River Road’s formal influence—such as potential proxy leverage—diminishes. However, with nearly one-twentieth of shares, the firm remains a relevant voice. The certification of passive intent reduces takeover or activist speculation. Governance dynamics remain largely unchanged; therefore, from a stewardship perspective the event is not impactful beyond disclosure compliance.

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).

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^*

Correnti Salvatore

(Last) (First) (Middle)

1408 MAINSAIL CIRCLE

(Street)

JUPITER FL 33477

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

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								320	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
Directors' Deferred Compensation Share Credits	$0(1)	07/31/2025		J(2)		39.474		(3)	(3)	Class A Common Stock	39.474	$356.24	2,621.33	D

Explanation of Responses:

1. Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan.

2. Acquired under Directors' Deferred Compensation Plan.

3. 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.

Remarks:

	Rebecca A. Buona, Power of Attorney	08/01/2025
	** 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 Park Aerospace (PKE) shares does River Road Asset Management now own?

River Road reports 976,678 PKE common shares as of 31 Jul 2025.

What percentage of PKE shares does this represent?

The holding equals 4.9 % of Park Aerospace’s outstanding common stock.

Did River Road cross any ownership thresholds?

Yes. The firm’s stake fell below 5 %, triggering Item 5 disclosure on the Schedule 13G/A.

Does River Road claim any intent to influence control of Park Aerospace?

No. The certification states the shares are held in the ordinary course, with no intention to influence control.

What is River Road’s voting power in PKE?

It has 909,868 shares with sole voting power and none with shared voting power.