Erie Indemnity director updates stock and plan holdings
Erie Indemnity director Jonathan Hirt Hagen reported updated holdings of company stock, mainly reflecting routine plan-related activity rather than open‑market trading.
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Form Type
4
Rhea-AI Filing Summary
Erie Indemnity director Jonathan Hirt Hagen reported updated holdings of company stock, mainly reflecting routine plan-related activity rather than open‑market trading. The only new movement was an "other" transaction in which 97.345 Directors' Deferred Compensation share credits tied to Class A Common Stock were added at $253.85 per share through dividend reinvestment, bringing this account to 16,993.818 share credits.
The filing also lists direct ownership of 223,130 Class A shares and 2,400 Class B shares, plus significant indirect Class B positions held through trusts that are convertible into Class A stock, and small indirect Class A positions held by family members for which beneficial ownership is disclaimed.
Insider Trade Summary
Other: 97.345 shares
Other
8 txns
Insider
Hagen Jonathan Hirt
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Directors' Deferred Compensation Share Credits | 97.345 | $253.85 | $25K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Directors' Deferred Compensation Share Credits — 16,993.818 contracts (Direct);
Class B Common Stock — 2,400 contracts (Direct);
Class B Common Stock — 1,404,000 contracts (Indirect, Contingent Beneficiary & Co-Trustee, Trust (#1));
Class B Common Stock — 1,404,000 contracts (Indirect, Contingent Beneficiary & Co-Trustee, Trust (#2));
Class B Common Stock — 2,808,000 contracts (Indirect, Primary Beneficiary & Co-Trustee, Trust);
Class A Common Stock — 223,130 shares (Direct);
Class A Common Stock — 200 shares (Indirect, By Daughter);
Class A Common Stock — 200 shares (Indirect, By Son)
Footnotes (5)
- F1. Held by family member. The Reporting Person disclaims beneficial ownership of these reported securities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for the purposes of Section 16 or for any other purpose.
- F2. Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan.
- F3. Acquired under dividend reinvestment for Directors' Deferred Compensation Plan.
- F4. 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.
- F5. Pursuant to the Articles of Incorporation of the Company, as amended, shares of Class B Common Stock (voting) of Erie Indemnity Company are convertible at any time to shares of Class A Common Stock (non-voting) at a conversion rate of 2,400 shares of Class A Stock for each share of Class B Stock. There are no exercise or expiration dates associated with this conversion feature and no specific exercise price when a Class B share is converted into Class A shares.
Key Figures
Deferred share credits added: 97.345 share credits
Price for new share credits: $253.85 per share
Deferred share credits balance: 16,993.818 share credits
+5 more
8 metrics
Deferred share credits added
97.345 share credits
Acquired under dividend reinvestment on Directors' Deferred Compensation Plan
Price for new share credits
$253.85 per share
Valuation used for 97.345 Directors' Deferred Compensation share credits
Deferred share credits balance
16,993.818 share credits
Total Directors' Deferred Compensation share credits after transaction
Direct Class A holdings
223,130 shares
Class A Common Stock directly owned following reported transactions
Direct Class B holdings
2,400 shares
Class B Common Stock directly owned, convertible into Class A shares
Largest indirect underlying Class A block
2,808,000 underlying shares
Underlying Class A shares tied to one indirect Class B trust holding
Family-held Class A positions
200 shares each
Class A Common Stock held by son and daughter; beneficial ownership disclaimed
Class B to Class A conversion rate
2,400 Class A per Class B
Conversion feature in Articles of Incorporation for Class B Common Stock
Key Terms
Directors' Deferred Compensation Plan, Outside Directors' Stock Plan, Share Credits, Class B Common Stock, +2 more
6 terms
Directors' Deferred Compensation Plan financial
"Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan."
Outside Directors' Stock Plan financial
"credited to the accounts of certain Directors of Erie Indemnity Company pursuant to its Outside Directors' Stock Plan."
Class B Common Stock financial
"shares of Class B Common Stock (voting) of Erie Indemnity Company are convertible at any time"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these reported securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 regulatory
"beneficial owner of such securities for the purposes of Section 16 or for any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did ERIE director Jonathan Hirt Hagen report on this Form 4?
The Form 4 shows routine updates to existing holdings, plus 97.345 new Directors' Deferred Compensation share credits acquired via dividend reinvestment. No open‑market purchases or sales of Erie Indemnity Class A or Class B shares are reported in this filing.
What indirect trust holdings in ERIE Class B stock are disclosed for Jonathan Hirt Hagen?
The filing lists indirect holdings of Class B Common Stock through trusts where Hagen is a primary or contingent beneficiary and co‑trustee. These positions include blocks with underlying rights to 2,808,000, 1,404,000, and 1,404,000 Class A shares, all convertible according to the company’s Articles of Incorporation.
How does Erie Indemnity’s Class B Common Stock convert into Class A Common Stock?
According to the company’s Articles of Incorporation, each share of Class B Common Stock is convertible at any time into Class A Common Stock at a rate of 2,400 Class A shares per Class B share. There is no specific exercise price or expiration date for this conversion feature.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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