HI Insider Ulrich Bartel Sells 24,179 Shares, Receives RSUs

Rhea-AI Filing Summary

Hillenbrand, Inc. director and Sr. VP & President, APS Ulrich Bartel filed a Form 4 disclosing transactions dated 09/30/2025. The filing reports a disposition of 24,179 shares of common stock (non-derivative) and the acquisition of restricted stock units (RSUs) settled in common shares on the same date. The RSU grants include 15, 46, 80, and 44 units from awards dated 12/7/2022, 12/7/2023, 12/5/2024, and 03/31/2025, respectively, with stated resulting beneficial ownership of 1,859, 5,637, 9,763, and 5,348 shares. The RSUs carry dividend equivalents and specified vesting schedules, including multi-year vesting tranches and a matching award that vests on 03/31/2028. The form is signed by an attorney-in-fact on behalf of Mr. Bartel on 10/02/2025.

Positive

• RSU awards totaling reported increments (15, 46, 80, 44) increase direct beneficial ownership
• Dividend equivalent rights on RSUs preserve economic value during vesting
• Matching RSU framework participation shows alignment with company compensation programs

Negative

• Disposition of 24,179 shares reduced reported non-derivative holdings on 09/30/2025
• No cash consideration or rationale for the sale is provided in the filing

Insights

Corporate Governance Analyst

Insider reported a share sale and multiple RSU awards on 09/30/2025.

The filing shows a disposition of 24,179 common shares and concurrent recognition of several RSU grants that increase reported beneficial ownership across four award schedules. All RSU holdings are reported as Direct ownership.

The RSUs include explicit vesting schedules and dividend equivalent rights, which are disclosed for each grant; the matching RSU vests on 03/31/2028.

Compensation Analyst

Filing details routine equity compensation vesting and matching plan participation.

Multiple RSU awards from 2022 through 2025 were recorded as acquired on 09/30/2025, with vesting spread over multi-year tranches (2023–2027 for various grants). The RSUs include dividend equivalents, indicating they accrue payouts tied to dividend record dates.

These entries document how equity-based pay is structured for this executive but do not state cash amounts or exercise prices beyond a $0 settlement price for the RSUs when converted to shares.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bartel Ulrich

(Last) (First) (Middle)

ONE BATESVILLE BOULEVARD

(Street)

BATESVILLE IN 47006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hillenbrand, Inc. [ HI ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP & President, APS

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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								24,179	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
Restricted Stock Units (Deferred Stock Award 12/7/2022)	(1)	09/30/2025		A(2)		15		(3)	(3)	Common Stock	15	$0	1,859	D
Restricted Stock Units (Deferred Stock Award 12/7/2023)	(1)	09/30/2025		A(2)		46		(4)	(4)	Common Stock	46	$0	5,637	D
Restricted Stock Units (Deferred Stock Award 12/5/2024)	(1)	09/30/2025		A(2)		80		(5)	(5)	Common Stock	80	$0	9,763	D
Restricted Stock Units (Matching RSU Framework 03/31/2025)	(1)	09/30/2025		A(2)		44		(6)	(6)	Common Stock	44	$0	5,348	D

Explanation of Responses:

1. Each Restricted Stock Unit represents the contingent right to receive one share of the issuer's common stock.

2. Restricted Stock Units are entitled to dividend equivalent rights which accrue on dividend record dates.

3. Restricted Stock Units scheduled to vest one-third on 12/7/2023, one-third on 12/7/2024, and one-third on 12/7/2025.

4. Restricted Stock Units scheduled to vest one-third on 12/7/2024, one-third on 12/7/2025, and one-third on 12/7/2026.

5. Restricted Stock Units scheduled to vest one-third on 12/5/2025, one-third on 12/5/2026, and one-third on 12/5/2027.

6. Represents Matching RSUs granted under the Company's Executive Share Match framework that will vest on March 31, 2028, and be settled in shares of the Company's common stock or cash to the extent the vesting conditions of the framework are satisfied.

Remarks:

	/s/ Allison A. Westfall, Attorney-in-Fact for Bartel Ulrich	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Hillenbrand (HI) insider Ulrich Bartel report on Form 4 dated 09/30/2025?

The filing reports a disposition of 24,179 common shares and acquisitions of RSUs of 15, 46, 80, and 44 units from awards dated 12/7/2022, 12/7/2023, 12/5/2024, and 03/31/2025.

How many shares does Ulrich Bartel beneficially own following the reported transactions?

The filing lists resulting beneficial ownership by grant of 1,859, 5,637, 9,763, and 5,348 shares for the respective RSU awards.

Do the reported RSUs include dividend rights or vesting schedules?

Yes. The RSUs carry dividend equivalent rights and have specified multi-year vesting schedules (examples include vesting tranches through 2027 and a matching award that vests on 03/31/2028).

When was the Form 4 signed and by whom?

The form was signed by Allison A. Westfall, Attorney-in-Fact for Ulrich Bartel on 10/02/2025.

Does the Form 4 state the cash proceeds or purpose of the 24,179-share disposition?

No. The filing records the disposition of 24,179 shares but does not disclose sale price rationale or cash proceeds.