Was the German American Bancorp (GABC) share purchase pre-planned?

Yes. The filing states the transaction followed a prior election by the director to use a portion of his compensation to buy German American Bancorp (GABC) stock. That election operates through the company’s Dividend Reinvestment and Stock Purchase Plan.

Director adds German American Bancorp (GABC) shares via purchase plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

German American Bancorp director Zachary W. Bawel increased his holdings through a planned stock purchase. He bought 24.7027 shares of common stock at $40.4814 per share in an open-market transaction, executed under a prior election to use part of his director compensation in the company’s Dividend Reinvestment and Stock Purchase Plan.

After this transaction, he directly owns 24,485.4621 common shares and also has 2,748 shares held indirectly through a revocable trust, which includes additional shares acquired under the same dividend reinvestment plan.

Insider Trade Summary

Net Buyer: 24.703 shares ($1,000)

Net Buy 2 txns

Insider Bawel Zachary W

Role Director

Bought 24.703 shs ($1,000.00)

Type	Security	Shares	Price	Value
Purchase	Common Stock	24.703	$40.4814	$1,000.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 24,485.462 shares (Direct); Common Stock — 2,748 shares (Indirect, Held by Revocable Trust)

Footnotes (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 (the "Dividend Reinvestment Plan"). Includes additional shares acquired pursuant to the Dividend Reinvestment Plan.

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Form 4 Insider Transactions: What Each Field Means →

03/17/2026 - 03:31 PM

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
Estimated average burden
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^*

Bawel Zachary W

(Last)

(First)

(Middle)

711 MAIN ST

P O BOX 810

(Street)

JASPER

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)
03/17/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								2,748	I	Held by Revocable Trust
Common Stock	03/17/2026	03/17/2026	P		24.7027⁽¹⁾	A	$40.4814	24,485.4621⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 (the "Dividend Reinvestment Plan").

2. Includes additional shares acquired pursuant to the Dividend Reinvestment Plan.

	/s/ Bradley C. Arnett, Attorney-in-Fact	03/17/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did German American Bancorp (GABC) disclose?

German American Bancorp (GABC) disclosed that director Zachary W. Bawel bought 24.7027 common shares. The purchase occurred on March 17, 2026 at a price of $40.4814 per share, increasing his overall ownership in the company.

How did the German American Bancorp (GABC) director acquire the new shares?

The German American Bancorp (GABC) director acquired the new shares through a prior election tied to his director compensation. That election directed part of his pay into the company’s Dividend Reinvestment and Stock Purchase Plan, which then bought additional common stock for him.

How many German American Bancorp (GABC) shares does the director now hold?

Following the reported transaction, the director directly holds 24,485.4621 German American Bancorp (GABC) common shares. He also has 2,748 additional shares held indirectly through a revocable trust, reflecting both past and recently reinvested amounts under the dividend reinvestment plan.

What is the role of the revocable trust in the GABC director’s holdings?

The revocable trust holds 2,748 German American Bancorp (GABC) common shares for the director as an indirect ownership position. These trust-held shares include additional amounts acquired through participation in the Dividend Reinvestment and Stock Purchase Plan over time.