German American director buys via stock plan

German American Bancorp, Inc. director Susan J. Ellspermann reported a small open‑market style purchase of company stock.

Rhea-AI Filing Summary

German American Bancorp, Inc. director Susan J. Ellspermann reported a small open‑market style purchase of company stock. On 01/15/2026 she acquired 24.6278 shares of German American Bancorp common stock at a price of $40.6046 per share, coded as a purchase ("P").

The filing notes this transaction was made under a prior election to use a portion of her director compensation to buy shares through the company’s Dividend Reinvestment and Stock Purchase Plan. After this transaction, she beneficially owns 11,663.7682 shares of common stock in direct form.

Insider Trade Summary

Net Buyer: 24.6278 shares

Net Buy 1 txn

Insider Ellspermann Susan J

Role Director

Bought 24.6278 shs ($1K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	24.6278	$40.6046	$1K

Holdings After Transaction: Common Stock — 11,663.7682 shares (Direct)

Footnotes (1)

1. F1. The reported transaction was effected pursuant to a prior election made by the Reporting Person to use a portion of her director compensation to purchase shares of common stock through participation in the Issuer's Dividend Reinvestment and Stock Purchase Plan.

FAQ

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

What insider transaction did GABC director Susan J. Ellspermann report?

Director Susan J. Ellspermann reported a purchase of 24.6278 shares of German American Bancorp, Inc. (GABC) common stock on 01/15/2026, coded as a purchase ("P").

At what price were the German American Bancorp (GABC) shares purchased?

The reported transaction shows a purchase price of $40.6046 per share for the 24.6278 shares of German American Bancorp common stock.

How many GABC shares does the director own after this transaction?

Following the reported transaction, Susan J. Ellspermann beneficially owns 11,663.7682 shares of German American Bancorp common stock in direct ownership.

Was the GABC share purchase part of a compensation or stock plan?

Yes. The footnote explains that the transaction was made under a prior election to use a portion of her director compensation to buy common stock through the issuer’s Dividend Reinvestment and Stock Purchase Plan.

Is this GABC Form 4 filing for derivative securities or only common stock?

This filing reports activity in non-derivative common stock only. The table for derivative securities shows no entries for options, warrants, or other derivative instruments.

Is the ownership reported by the GABC director direct or indirect?

The Form 4 indicates the 11,663.7682 shares of German American Bancorp common stock are held with direct (D) ownership by the reporting person.

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

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Accepted by SEC EDGAR 01/16/2026 - 02:51 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^*

Ellspermann Susan J

(Last) (First) (Middle)

711 MAIN ST

P O BOX 810

(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)
01/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/15/2026	01/16/2026	P		24.6278(1)	A	$40.6046	11,663.7682	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 her 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	01/16/2026
	** 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.