Andrew Seger discloses restricted grant and indirect holdings at GABC

Rhea-AI Filing Summary

Andrew M. Seger, a director of German American Bancorp, Inc. (GABC), reported beneficial ownership on a Form 3 consisting of 17,622.0928 common shares held directly, which include 1,298 restricted shares that vest on July 1, 2026. He also reports 125,826 common shares held indirectly through Wabash Valley Produce, Inc., where he is a shareholder and the Chief Financial Officer. The disclosure corresponds to an event dated July 1, 2025.

Insights

Corporate Governance Expert

TL;DR: Routine initial disclosure showing director equity and an annual restricted grant, with indirect holdings via an affiliated entity.

The Form 3 documents a standard initial insider disclosure. The 1,298 restricted shares are described as an annual director equity grant under the issuer's non-employee director compensation arrangements and vest on July 1, 2026, which is a common mechanism to align non-employee directors with shareholders. The indirect position of 125,826 shares is held through Wabash Valley Produce, Inc., where the reporting person serves as CFO; this clarifies the source of indirect ownership reported on the form.

Securities Analyst

TL;DR: Disclosure is informational and routine; reported holdings are notable but not presented as transaction-driven or materially transformative.

The filing lists 17,622.0928 shares directly and 125,826 shares indirectly, with a specified restricted tranche vesting in 2026. As an initial beneficial ownership filing, it provides clarity on insider exposure but does not report sales, purchases, or derivative positions. From a securities perspective, this is a standard compliance disclosure that enables investors to track insider stake and compensation-related equity grants.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Seger Andrew M

(Last) (First) (Middle)

711 MAIN ST

(Street)

JASPER IN 47546

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/01/2025

3. Issuer Name and Ticker or Trading Symbol
GERMAN AMERICAN BANCORP, INC. [ GABC ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common	17,622.0928(1)	D
Common	125,826	I	By Wabash Valley Produce, Inc.(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 1,298 of restricted shares issued to the Reporting Person as an annual director equity grant pursuant to the Issuer's non-employee director compensation arrangements. The restricted stock will vest on July 1, 2026.

2. The Reporting Person is a shareholder and the Chief Financial Officer of Wabash Valley Produce, Inc.

Remarks:

This Form is being filed late due to an administrative delay in obtaining the Reporting Person's EDGAR filing codes.

	/s/ Bradley C. Arnett, Attorney-in-Fact	08/14/2025
	** 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 5 (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

What shares did Andrew M. Seger report owning in GABC?

He reported 17,622.0928 common shares held directly and 125,826 common shares held indirectly through Wabash Valley Produce, Inc.

How many restricted shares were included and when do they vest?

The report states 1,298 restricted shares issued as an annual director equity grant, vesting on July 1, 2026.

What is the reporting person's role at GABC?

The filing identifies Andrew M. Seger as a Director of German American Bancorp, Inc.

Why are some shares listed as indirect ownership?

The 125,826 indirect shares are reported as held by Wabash Valley Produce, Inc., where the reporting person is a shareholder and Chief Financial Officer.

Is this an initial insider disclosure and what event date is shown?

Yes, this is a Form 3 initial statement of beneficial ownership tied to an event dated July 1, 2025.