Director adds German American Bancorp (GABC) stock via compensation plan

Rhea-AI Filing Summary

German American Bancorp director Zachary W. Bawel acquired 22.9463 shares of Common Stock at $43.58 per share. The purchase was coded as an open-market transaction and resulted in direct holdings of 24,508.4084 shares.

The buy was executed under a prior election to use a portion of his director compensation to purchase stock through the company’s Dividend Reinvestment and Stock Purchase Plan. Bawel also holds 2,748.0000 shares indirectly through a revocable trust.

Insider Trade Summary

Net Buyer: 22.946 shares ($1,000)

Net Buy 2 txns

Insider Bawel Zachary W

Role Director

Bought 22.946 shs ($1,000.00)

Type	Security	Shares	Price	Value
Purchase	Common Stock	22.946	$43.58	$1,000.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 24,508.408 shares (Direct); Common Stock — 2,748 shares (Indirect, Held by Revocable Trust)

Footnotes (1)

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Key Figures

Shares purchased: 22.9463 shares Purchase price: $43.58 per share Direct holdings after transaction: 24,508.4084 shares +2 more

5 metrics

Shares purchased 22.9463 shares Common Stock, transaction on 2026-04-15 as open-market purchase

Purchase price $43.58 per share Price for 22.9463 Common Stock shares acquired

Direct holdings after transaction 24,508.4084 shares Total directly owned Common Stock following purchase

Indirect trust holdings 2,748.0000 shares Common Stock held indirectly via revocable trust

Net buy shares 22.9463 shares Net change in reported buy/sell activity for this filing

Key Terms

Dividend Reinvestment and Stock Purchase Plan, open-market purchase, Revocable Trust, director compensation

4 terms

Dividend Reinvestment and Stock Purchase Plan financial

"purchase shares of common stock through participation in the Issuer's Dividend Reinvestment and Stock Purchase Plan"

A dividend reinvestment and stock purchase plan lets investors automatically use cash dividends to buy additional shares and often make extra share purchases directly from the company, usually at low or no commission. Think of it as an automatic savings plan for stock: dividends and optional contributions are turned into more shares, helping ownership grow through compounding and making regular investing simple and low-cost—key for long-term investors.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Revocable Trust financial

"nature_of_ownership": "Held by Revocable Trust""

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

director compensation financial

"use a portion of his director compensation to purchase shares of common stock"

Form 4 Insider Transactions: What Each Field Means →

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 INDIANA 47546

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Stock								2,748	I	Held by Revocable Trust
Common Stock	04/15/2026	04/16/2026	P		22.9463(1)	A	$43.58	24,508.4084	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	04/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did GABC director Zachary W. Bawel report?

Zachary W. Bawel reported buying 22.9463 German American Bancorp common shares at $43.58 each. The transaction increased his directly held position to 24,508.4084 shares, with an additional 2,748.0000 shares held indirectly through a revocable trust associated with him.

How were the newly acquired GABC shares for Zachary W. Bawel funded?

The acquired shares were funded through a prior election by Zachary W. Bawel to use part of his director compensation. That compensation was directed into German American Bancorp’s Dividend Reinvestment and Stock Purchase Plan to purchase additional common stock automatically over time.

What is Zachary W. Bawel’s direct ownership in GABC after this Form 4?

After the reported transaction, Zachary W. Bawel directly owns 24,508.4084 German American Bancorp common shares. This reflects the addition of 22.9463 shares purchased at $43.58 per share under the company’s Dividend Reinvestment and Stock Purchase Plan linked to his director compensation.

What indirect GABC holdings are reported for Zachary W. Bawel?

The filing shows 2,748.0000 German American Bancorp common shares held indirectly by a revocable trust. These shares are reported as indirect ownership, separate from Zachary W. Bawel’s 24,508.4084 directly held shares following the most recent stock purchase transaction.

Was Zachary W. Bawel’s GABC share purchase a discretionary trade?

The purchase was executed under a prior election to use director compensation in the Dividend Reinvestment and Stock Purchase Plan. That structure indicates it was a pre-arranged, compensation-driven acquisition rather than a spontaneous open-market trade based solely on current market conditions.