GABC insider purchase: Seger acquires shares via DRIP at $39.7361

Rhea-AI Filing Summary

Andrew M. Seger, a director of German American Bancorp, Inc. (GABC), reported changes in his beneficial ownership. The filing shows Mr. Seger is recorded as indirectly owning 125,826 shares through Wabash Valley Produce, Inc. and that on 08/15/2025 he acquired 503.3207 shares at a price of $39.7361 per share. The filing explains the purchase resulted from a prior election to use a portion of director compensation to buy shares through the issuer's Dividend Reinvestment and Stock Purchase Plan. The Form 4 was signed by an attorney-in-fact on 08/19/2025.

Positive

• Director purchased shares through the company's Dividend Reinvestment and Stock Purchase Plan, indicating alignment with shareholders
• Clear disclosure of indirect ownership (125,826 shares held by Wabash Valley Produce, Inc.) and a specific acquisition amount and price (503.3207 shares at $39.7361)

Negative

• None.

Insights

Securities/Financial Analyst

TL;DR: Routine insider purchase under a director compensation election; transaction is small and non-dilutive.

The Form 4 discloses a director-level acquisition executed through the company's Dividend Reinvestment and Stock Purchase Plan. The reported purchase of 503.3207 shares at $39.7361 is consistent with an automatic reinvestment or directed purchase rather than an opportunistic market buy. Indirect ownership of 125,826 shares via an entity (Wabash Valley Produce, Inc.) is disclosed, and the filing was executed by an attorney-in-fact. This is a routine Section 16 disclosure with no indications of material corporate events or change in control.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance best practices; transaction automated via compensation election.

The report clearly states the acquisition was effected pursuant to a prior election to use director compensation to purchase stock under the issuer's plan, which is a common and transparent practice for aligning director interests with shareholders. Indirect holding through a named entity is properly disclosed. The filing includes an attorney-in-fact signature, which is acceptable for Section 16 reporting when executed on the reporting person's behalf.

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
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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^*

Seger Andrew M

(Last) (First) (Middle)

711 MAIN ST

(Street)

JASPER IN 47546

(City) (State) (Zip)

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

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)
08/15/2025

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
Common								125,826	I	By Wabash Valley Produce, Inc.
Common	08/15/2025	08/18/2025	P		503.3207(1)	A	$39.7361	18,125.4135	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

Explanation of Responses:

1. The reported transaction was effected pursuant to a prior election made by the Reporting Person to use a portion of his director compensation to purchase shares of common stock through participation in the Issuer's Dividend Reinvestment and Stock Purchase Plan.

	/s/ Bradley C. Arnett, Attorney-in-Fact	08/19/2025
	** 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

What did Andrew M. Seger report on Form 4 for GABC?

The filing reports that Andrew M. Seger, a director, indirectly owned 125,826 shares through Wabash Valley Produce, Inc. and acquired 503.3207 shares on 08/15/2025 at $39.7361 per share.

How was the 08/15/2025 purchase for GABC effected?

The filing states the transaction was effected pursuant to a prior election to use a portion of director compensation to purchase shares through the issuer's Dividend Reinvestment and Stock Purchase Plan.

Does the Form 4 show direct or indirect ownership changes for GABC insider?

Yes. The filing discloses indirect ownership of 125,826 shares via Wabash Valley Produce, Inc., and reports the acquired shares as direct in the transaction line.

What price was paid for the reported shares in the GABC Form 4?

The reported purchase price for the transaction on 08/15/2025 was $39.7361 per share.

When was the Form 4 signed for the GABC filing?

The Form 4 was signed by an attorney-in-fact on 08/19/2025.