HBT Financial chair sells 15,742 shares in trust
HBT Financial, Inc. Executive Chairman Fred L. Drake reported an open-market sale of 15,742 shares of common stock on April 28, 2026 through the Fred L. Drake Revocable Trust.
Rhea-AI Filing Summary
HBT Financial, Inc. Executive Chairman Fred L. Drake reported an open-market sale of 15,742 shares of common stock on April 28, 2026 through the Fred L. Drake Revocable Trust.
The sale was executed at a weighted average price of $28.93 per share, with individual trades ranging from $28.75 to $29.10. Following this transaction, the revocable trust held 45,815 shares indirectly. Separately, a voting trust associated with Drake held 17,210,400 shares indirectly, and he also held 14,343 shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 15,742 shares
Net Sell
3 txns
Insider
DRAKE FRED L, HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/2016
Role
Executive Chairman | 10% Owner
Sold
15,742 shs ($455K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $0.01 par value | 15,742 | $28.93 | $455K |
| holding | Common Stock, $0.01 par value | -- | -- | -- |
| holding | Common Stock, $0.01 par value | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.01 par value — 45,815 shares (Indirect, By the Fred L. Drake Revocable Trust);
Common Stock, $0.01 par value — 14,343 shares (Direct);
Common Stock, $0.01 par value — 17,210,400 shares (Indirect, See footnote)
Footnotes (2)
- F1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.75 to $29.10, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.
- F2. Consists of shares of common stock held by the Heartland Bancorp, Inc. Voting Trust U/A/D May 4, 2016 (the "Voting Trust"). Mr. Drake is the trustee of the Voting Trust and exercises sole voting and investment control over the common stock held thereby. Mr. Drake may be deemed to be the beneficial owner of securities held by the Voting Trust to the extent that he or his immediate family members are beneficiaries of such trust. Mr. Drake disclaims beneficial ownership of the shares held by the Voting Trust except to the extent of his pecuniary interest therein.
Key Figures
Shares sold: 15,742 shares
Weighted average sale price: $28.93/share
Sale price range: $28.75–$29.10/share
+3 more
6 metrics
Shares sold
15,742 shares
Open-market sale on April 28, 2026
Weighted average sale price
$28.93/share
Common stock sale by revocable trust
Sale price range
$28.75–$29.10/share
Multiple transactions within this range
Revocable Trust holdings after sale
45,815 shares
Indirect ownership following transaction
Voting Trust indirect holdings
17,210,400 shares
Shares held by Heartland Bancorp, Inc. Voting Trust
Direct holdings
14,343 shares
Common stock held directly by Fred L. Drake
Key Terms
Form 4, open-market sale, beneficial owner, voting and investment control, +2 more
6 terms
Form 4 regulatory
"footnote (1) to this 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.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
beneficial owner financial
"may be deemed to be the beneficial owner of securities"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
voting and investment control financial
"exercises sole voting and investment control over the common stock"
Revocable Trust financial
"By the Fred L. Drake 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.
Voting Trust financial
"Heartland Bancorp, Inc. Voting Trust U/A/D May 4, 2016"
A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did HBT (HBT Financial, Inc.) report?
HBT Financial reported an insider open-market sale of 15,742 shares. Executive Chairman Fred L. Drake, through his revocable trust, sold 15,742 common shares, as disclosed in a Form 4 insider trading report filed with regulators.
What indirect holdings in HBT Financial (HBT) are reported through the Heartland Bancorp Voting Trust?
The Heartland Bancorp, Inc. Voting Trust held 17,210,400 HBT Financial shares. Fred L. Drake serves as trustee, exercising sole voting and investment control over these shares, while disclaiming beneficial ownership beyond his pecuniary interest.
Was the HBT Financial (HBT) insider sale executed in a single trade or multiple trades?
The insider sale was executed in multiple trades within a price range. The Form 4 notes that shares were sold at prices between $28.75 and $29.10, resulting in a weighted average sale price of $28.93 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
