Erie Indemnity (ERIE) CFO updates deferred share credits from incentive award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ERIE INDEMNITY CO EVP & CFO Julie Marie Pelkowski reported a compensation-related adjustment to her deferred share holdings. She received 285.772 Incentive Compensation Deferral Plan share credits, tied to an Annual Incentive Plan award, each representing the right to receive one share of Class A common stock upon retirement or separation from the company.
These plan share credits have no exercise or expiration dates and do not involve an open-market purchase or sale. After this adjustment, her account shows 2,081.740 plan share credits, and her direct holdings of Class A common stock are reported at 660.265 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Pelkowski Julie Marie
Role
EVP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Incentive Compensation Deferral Plan Share Credits | 285.772 | $246.91 | $71K |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Incentive Compensation Deferral Plan Share Credits — 2,081.74 shares (Direct);
Class A Common Stock — 660.265 shares (Direct)
Footnotes (1)
- Conversion price is not applicable to shares granted under the Erie Indemnity Company Incentive Compensation Deferral Plan. Acquired under the Erie Indemnity Company Incentive Compensation Deferral Plan from an Annual Incentive Plan award. 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 did ERIE (ERIE) EVP & CFO Julie Pelkowski report in this Form 4?
Julie Pelkowski reported receiving 285.772 deferred share credits under Erie Indemnity’s Incentive Compensation Deferral Plan. These credits stem from an Annual Incentive Plan award and represent a right to receive the same number of Class A common shares in the future.
Are the ERIE (ERIE) Form 4 transactions open-market buys or sells?
The reported activity is not an open-market buy or sell. It reflects an internal, compensation-related allocation of 285.772 share credits under a deferred compensation plan, rather than a discretionary purchase or sale of Class A common stock in the market.
What is the nature of the restructuring-type transaction in this ERIE (ERIE) Form 4?
The Form 4 classifies the 285.772-share entry as an “other” transaction under code J, associated with compensation restructuring. It records share credits allocated from an Annual Incentive Plan award into the deferred compensation plan, not a market-based trade.