German American Bancorp (NASDAQ: GABC) CFO surrenders shares for taxes

Rhea-AI Filing Summary

German American Bancorp, Inc. President & CFO Bradley M. Rust reported three tax-withholding dispositions of Common Stock on March 16, 2026, totaling 2,154 shares at $40.07 per share. These shares were surrendered to cover tax obligations tied to vesting restricted stock awards.

The footnotes state the dispositions relate to vesting of 2,400, 2,551 and 1,807 restricted shares granted in March 2023, 2024 and 2025. After these transactions, Rust directly owns 84,278 shares, including 16,464 shares jointly owned with his spouse.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider RUST BRADLEY M

Role PRESIDENT & CFO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	765	$40.07	$31K
Tax Withholding	Common Stock	813	$40.07	$33K
Tax Withholding	Common Stock	576	$40.07	$23K

Holdings After Transaction: Common Stock — 85,667 shares (Direct)

Footnotes (1)

1. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 2,400 shares of restricted stock granted under a March 15, 2023 award. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 2,551 shares of restricted stock granted under a March 15, 2024 award. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 1,807 shares of restricted stock granted under a March 15, 2025 award. This amount also includes 16,464 shares that the Reporting Person jointly owns with his spouse.

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^*

RUST BRADLEY M

(Last) (First) (Middle)

711 MAIN STREET

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT & CFO

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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	03/16/2026		F		765(1)	D	$40.07	85,667	D
Common Stock	03/16/2026		F		813(2)	D	$40.07	84,854	D
Common Stock	03/16/2026		F		576(3)	D	$40.07	84,278(4)	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. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 2,400 shares of restricted stock granted under a March 15, 2023 award.

2. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 2,551 shares of restricted stock granted under a March 15, 2024 award.

3. Reflects shares surrendered by the Reporting Person to satisfy tax withholding obligations upon the vesting of 1,807 shares of restricted stock granted under a March 15, 2025 award.

4. This amount also includes 16,464 shares that the Reporting Person jointly owns with his spouse.

	/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.

FAQ

What insider transaction did GABC executive Bradley Rust report?

Bradley M. Rust reported surrendering 2,154 shares of German American Bancorp common stock to cover tax withholding. The transactions used Form 4 code F, indicating payment of tax liabilities by delivering already-owned shares, not an open-market stock sale.

Why did the GABC CFO surrender 2,154 shares of stock?

The 2,154 shares were surrendered to satisfy tax withholding obligations on vesting restricted stock awards. Footnotes explain the shares relate to vesting of 2,400, 2,551 and 1,807 restricted shares granted in March 2023, March 2024 and March 2025, respectively.

At what price were the GABC tax-withholding shares valued?

The surrendered German American Bancorp shares were valued at $40.07 per share for tax-withholding purposes. Three separate entries show 765, 813 and 576 shares, each priced at $40.07, matching the description of payment of tax liabilities using company stock.

How many GABC shares does Bradley Rust hold after these transactions?

After the reported tax-withholding dispositions, Bradley M. Rust directly holds 84,278 German American Bancorp shares. A footnote clarifies this total includes 16,464 shares that he jointly owns with his spouse, providing context for his overall equity stake.

Do the GABC Form 4 transactions represent an open-market sale?

The transactions do not represent an open-market sale. They are coded F, meaning shares were surrendered to pay tax obligations on vesting restricted stock. This is a routine, compensation-related event rather than a discretionary purchase or sale in the market.

What restricted stock awards triggered the GABC tax-withholding events?

The tax-withholding events relate to vesting of restricted stock granted under awards dated March 15, 2023, March 15, 2024 and March 15, 2025. The vesting amounts were 2,400, 2,551 and 1,807 shares, respectively, according to the Form 4 footnotes.