HILLS BANCORPORATION (HBIA) CFO acquires shares via employee stock purchase plan

Rhea-AI Filing Summary

HILLS BANCORPORATION senior executive receives small stock grant. SVP and Chief Financial Officer Anthony V. Roetlin acquired 57.1501 shares of Common Stock on July 2, 2026 at a price of $39.37 per share. The shares were acquired under the company’s employee stock purchase plan, bringing his direct holdings to 6,877.3649 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Roetlin Anthony V

Role SVP Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	57.15	$39.37	$2K

Holdings After Transaction: Common Stock — 6,877.365 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 57.1501 shares Transaction price: $39.37 per share Total holdings after: 6,877.3649 shares +2 more

5 metrics

Shares acquired 57.1501 shares Common Stock granted/awarded on July 2, 2026

Transaction price $39.37 per share Price for the 57.1501 Common Stock shares acquired

Total holdings after 6,877.3649 shares Direct Common Stock owned by CFO after transaction

Acquire transactions 1 transaction Non-derivative acquisition events in this Form 4

Net buy/sell shares 0 shares transactionSummary netBuySellShares reported as neutral

Key Terms

employee stock purchase plan, Grant, award, or other acquisition, Common Stock

3 terms

employee stock purchase plan financial

"Shares acquired under the Company's employee stock purchase plan on 7/2/2026"

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.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/06/2026 - 02:54 PM Accepted by SEC EDGAR 07/06/2026 - 02:54 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^*

Roetlin Anthony V

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026

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)	07/02/2026		A		57.1501	A	$39.37	6,877.3649	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 7/2/2026

Remarks:

	/s/ Anthony V. Roetlin by James C. Wacker	07/06/2026
	** 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 HILLS BANCORPORATION (HBIA) report for Anthony V. Roetlin?

HILLS BANCORPORATION reported that SVP and Chief Financial Officer Anthony V. Roetlin acquired 57.1501 shares of Common Stock. The acquisition occurred on July 2, 2026, and was reported as a grant, award, or other acquisition on Form 4.

At what price were the new HBIA shares acquired by the CFO on July 2, 2026?

The newly acquired HILLS BANCORPORATION shares were recorded at $39.37 per share. This price is shown as the transaction price per share for the 57.1501 Common Stock shares acquired by the company’s Chief Financial Officer on July 2, 2026.

How many HILLS BANCORPORATION shares does the CFO hold after this Form 4 transaction?

After this transaction, the Chief Financial Officer holds a total of 6,877.3649 HILLS BANCORPORATION Common Stock shares directly. This total includes the 57.1501 shares acquired on July 2, 2026, under the company’s employee stock purchase plan.

Was the HBIA CFO’s July 2, 2026 transaction an open-market purchase or a grant?

The transaction was reported as a grant, award, or other acquisition, not an open-market purchase. The footnote specifies that the 57.1501 shares were acquired under HILLS BANCORPORATION’s employee stock purchase plan on July 2, 2026.

Does the HILLS BANCORPORATION Form 4 show the CFO buying or selling HBIA shares?

The Form 4 shows the CFO acquiring, not selling, HILLS BANCORPORATION shares. It reports one non-derivative acquisition transaction and no sales, with the transaction classified as a grant, award, or other acquisition of Common Stock.

Is the HBIA CFO’s ownership shown as direct or indirect in this Form 4 filing?

The CFO’s ownership in this transaction is reported as direct. The Form 4 designates the nature of ownership as direct, with no indication of indirect holdings through entities such as trusts, partnerships, or family investment vehicles in the provided data.