German American Bancorp director buys at $49.89

A GERMAN AMERICAN BANCORP, INC. director increased his holdings through a compensation-based purchase under the company’s dividend reinvestment and stock purchase plan.

Rhea-AI Filing Summary

GERMAN AMERICAN BANCORP, INC. (GABC) reported that director Zachary W. Bawel purchased 400.8532 shares of common stock on September 15, 2026 at $49.8932 per share. The purchase was made by applying a portion of his director compensation through the company’s Dividend Reinvestment and Stock Purchase Plan. After this transaction, he holds 27,215.3229 shares directly, and a revocable trust associated with him holds 2,748 shares indirectly. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 400.8532 shares

Net Buy 2 txns

Insider Bawel Zachary W

Role Director

Bought 400.8532 shs ($20K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2	400.8532	$49.8932	$20K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 27,215.3229 shares (Direct); Common Stock — 2,748 shares (Indirect, Held by Revocable Trust)

Footnotes (2)

1. F1. 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. F2. Includes shares acquired pursuant to the Dividend Reinvestment Plan.

Key Figures

Shares purchased: 400.8532 shares Purchase price per share: $49.8932 per share Direct holdings after transaction: 27,215.3229 shares +2 more

5 metrics

Shares purchased 400.8532 shares Common stock bought on September 15, 2026

Purchase price per share $49.8932 per share Price paid for GABC common stock on September 15, 2026

Direct holdings after transaction 27,215.3229 shares GABC common stock held directly by Zachary W. Bawel after the reported purchase

Indirect holdings via revocable trust 2,748 shares GABC common stock held indirectly by revocable trust

Net shares bought in this filing 400.8532 shares Net buy transactions reported in this Form 4

Key Terms

Dividend Reinvestment and Stock Purchase Plan, Dividend Reinvestment Plan, Revocable Trust

3 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.

Dividend Reinvestment Plan financial

"pursuant to the Dividend Reinvestment Plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Revocable Trust financial

"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

GABC reported that director Zachary W. Bawel purchased 400.8532 shares of common stock on September 15, 2026, using a portion of his director compensation through the company’s Dividend Reinvestment and Stock Purchase Plan.

At what price were the GABC shares purchased in this Form 4 filing?

The reported purchase price was $49.8932 per share for 400.8532 shares of GABC common stock acquired on September 15, 2026.

How many GABC shares does Zachary W. Bawel hold after this transaction?

After the transaction, Zachary W. Bawel holds 27,215.3229 shares of GABC common stock directly. A separate revocable trust associated with him holds an additional 2,748 shares indirectly.

Were the new GABC shares bought through a dividend reinvestment plan?

Yes. The filing states the transaction was made pursuant to a prior election to use part of his director compensation to buy shares through the Dividend Reinvestment and Stock Purchase Plan, referred to as the Dividend Reinvestment Plan.

Does this GABC Form 4 indicate use of a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and there is no footnote stating that the transaction was made under a Rule 10b5-1 trading plan.

What indirect GABC holdings does the Form 4 show for Zachary W. Bawel?

In addition to his direct holdings, the Form 4 reports 2,748 shares of GABC common stock held indirectly in a Revocable Trust associated with him.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 04:27 PM Accepted by SEC EDGAR 09/16/2026 - 04:27 PM Learn about SEC filing dates

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)
09/15/2026

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	09/15/2026	09/16/2026	P		400.8532(1)	A	$49.8932	27,215.3229(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)
				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 (the "Dividend Reinvestment Plan").

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

	/s/ Bradley C. Arnett, Attorney-in-Fact	09/16/2026
	** 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)