HBIA CEO awarded 30.7 shares via stock plan

HILLS BANCORPORATION President and CEO Lisa A. Shileny acquired additional company stock through an employee program.

Accepted by SEC EDGAR 04/03/2026 - 12:07 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

HILLS BANCORPORATION President and CEO Lisa A. Shileny acquired additional company stock through an employee program. On April 1, 2026, she received 30.6748 shares of Common Stock at $73.35 per share under the company’s employee stock purchase plan. Following this grant, she directly holds 9,305.5281 Common Stock shares.

This was a compensation-related acquisition rather than an open-market purchase, reflecting ongoing participation in the company’s employee stock purchase plan rather than a discretionary trade.

Insider Trade Summary

Grant/Award: 30.6748 shares

Grant/Award 1 txn

Insider Shileny Lisa A

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	30.6748	$73.35	$2K

Holdings After Transaction: Common Stock — 9,305.5281 shares (Direct)

Footnotes (1)

1. F1. Shares acquired under the Company's employee stock purchase plan on 4/1/2026

Key Figures

Shares acquired: 30.6748 shares Acquisition price: $73.35 per share Total direct holdings after transaction: 9,305.5281 shares

3 metrics

Shares acquired 30.6748 shares Common Stock acquired on April 1, 2026 under employee stock purchase plan

Acquisition price $73.35 per share Price for Common Stock acquired on April 1, 2026

Total direct holdings after transaction 9,305.5281 shares Common Stock directly owned by Lisa A. Shileny after grant

Key Terms

employee stock purchase plan, Common Stock, grant/award acquisition, Form 4

4 terms

employee stock purchase plan financial

"Shares acquired under the Company's employee stock purchase plan on 4/1/2026"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

Common Stock financial

"security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What insider transaction did HILLS BANCORPORATION (HBIA) report for Lisa A. Shileny?

HILLS BANCORPORATION reported that President and CEO Lisa A. Shileny acquired 30.6748 shares of Common Stock. The shares were obtained on April 1, 2026 at $73.35 per share under the company’s employee stock purchase plan, reflecting compensation-related stock ownership.

Was the HBIA insider transaction an open-market buy or a stock grant?

The HBIA insider transaction was a stock grant under an employee plan, not an open-market buy. Lisa A. Shileny acquired 30.6748 Common Stock shares at $73.35 per share through the company’s employee stock purchase plan, which is a structured compensation-related acquisition.

How many HILLS BANCORPORATION shares does Lisa A. Shileny own after this Form 4?

After this transaction, Lisa A. Shileny directly owns 9,305.5281 shares of HILLS BANCORPORATION Common Stock. This total reflects her holdings following the April 1, 2026 acquisition of 30.6748 shares through the company’s employee stock purchase plan at $73.35 per share.

What price was paid per share in the HBIA employee stock purchase plan transaction?

The shares were acquired at $73.35 per share in the HILLS BANCORPORATION employee stock purchase plan. On April 1, 2026, Lisa A. Shileny received 30.6748 Common Stock shares at this price as part of a compensation-related grant reported on Form 4.

What does the Form 4 code "A" mean in the HBIA insider filing?

The Form 4 code “A” indicates a grant, award, or other acquisition of securities. In this HBIA filing, it shows that Lisa A. Shileny acquired 30.6748 Common Stock shares on April 1, 2026 through the company’s employee stock purchase plan rather than buying on the open market.

Is the HBIA Form 4 transaction for Lisa A. Shileny classified as direct ownership?

Yes, the transaction is classified as direct ownership. The Form 4 lists the ownership type as direct, meaning the 30.6748 Common Stock shares acquired on April 1, 2026 at $73.35 per share are held directly by Lisa A. Shileny after the employee stock purchase plan grant.

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

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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^*

Shileny Lisa A

(Last) (First) (Middle)

C/O HILLS BANCORPORATION

131 E. MAIN ST., PO BOX 160

(Street)

HILLS IOWA 52235

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HILLS BANCORPORATION [ HBIA.PK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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(1)	04/01/2026		A		30.6748	A	$73.35	9,305.5281	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. Shares acquired under the Company's employee stock purchase plan on 4/1/2026

Remarks:

	/s/ Lisa A. Shileny by James C. Wacker	04/03/2026
	** 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)