ERIE (ERIE) director adds deferred share credits and updates holdings
Rhea-AI Filing Summary
ERIE Indemnity director Eugene C. Connell reported routine updates to his equity and deferred compensation positions. He acquired 39.475 Directors' Deferred Compensation Share Credits at a reference value of $253.63 per share credit under the Outside Directors' Deferred Compensation Plan, which represents the right to receive an equivalent number of Class A common shares when his board service ends.
After these entries, Connell holds 17,433.246 Class A shares directly. An additional 2,462.602 Class A shares are held by his children; he disclaims beneficial ownership of those shares. His deferred compensation account now reflects 3,345.295 share credits linked to Class A common stock. The filing shows no open-market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
CONNELL EUGENE C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Directors' Deferred Compensation Share Credits | 39.475 | $253.63 | $10K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Directors' Deferred Compensation Share Credits — 3,345.295 shares (Direct);
Class A Common Stock — 2,462.602 shares (Indirect, By Children);
Class A Common Stock — 17,433.246 shares (Direct)
Footnotes (4)
- F1. Shares held by Reporting Person's children living in his household. The Reporting Person disclaims beneficial ownership of these reported securities, therefore 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 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.
Key Figures
Deferred share credits acquired: 39.475 share credits
Reference value per share credit: $253.6300 per share credit
Deferred share credits after transaction: 3,345.295 share credits
+3 more
6 metrics
Deferred share credits acquired
39.475 share credits
Directors' Deferred Compensation Share Credits on transaction date
Reference value per share credit
$253.6300 per share credit
Value used for deferred share credit entry
Deferred share credits after transaction
3,345.295 share credits
Directors' Deferred Compensation Share Credits balance
Direct Class A shares held
17,433.246 shares
Direct ownership of ERIE Class A common stock
Indirect Class A shares held by children
2,462.602 shares
Shares held by children; beneficial ownership disclaimed
Restructuring shares reported
39.475 shares
Shares tied to restructuring-type J code transaction
Key Terms
Directors' Deferred Compensation Share Credits, Outside Directors' Deferred Compensation Plan, Outside Directors' Stock Plan, Share Credits, +1 more
5 terms
Outside Directors' Deferred Compensation Plan financial
"shares granted under the Outside Directors' Deferred Compensation Plan"
Outside Directors' Stock Plan financial
"pursuant to its Outside Directors' Stock Plan"
Section 16 regulatory
"beneficial owner of such securities for the purposes of Section 16"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did ERIE (ERIE) director Eugene C. Connell report in this Form 4?
Eugene C. Connell reported routine updates to his ERIE holdings, including 39.475 new Directors' Deferred Compensation Share Credits and updated totals for his direct Class A common stock and deferred share credit balances, without any open-market stock purchases or sales.
Were there any open-market ERIE (ERIE) stock purchases or sales in this Form 4?
No open-market purchases or sales were reported. The Form 4 shows one “other” transaction code related to deferred compensation share credits and two holding entries that update direct and indirect ownership totals, without recording market trades in ERIE Class A common stock.
What does the J transaction code mean in this ERIE (ERIE) Form 4?
The J code in this Form 4 is described as an “other acquisition or disposition.” Here, it reflects 39.475 Directors' Deferred Compensation Share Credits acquired under ERIE’s Outside Directors' Deferred Compensation Plan, rather than a traditional stock market purchase or sale.