HI Form 4: 175,565.745-Share Sale by CEO with Multiple RSU Awards

Rhea-AI Filing Summary

Kimberly K. Ryan, listed as President & CEO and a Director of Hillenbrand, Inc. (HI), reported transactions with an earliest transaction date of 09/30/2025. The filing shows a reported disposition of 175,565.745 shares of common stock (Code V), reducing her direct holdings. On the same date she acquired several restricted stock unit awards that convert into common shares: 83, 237, 432, and 312 RSUs, which correspond to 10,116, 28,788, 52,423, and 37,829 shares beneficially owned following each reported award, respectively. Vesting schedules and the matching RSU framework are disclosed in the filing.

Positive

• 83, 237, 432, and 312 RSUs granted on 09/30/2025 with explicit vesting schedules
• RSUs include dividend equivalent rights and a Matching RSU that vests on 03/31/2028

Negative

• Disposal of 175,565.745 shares of common stock reported on 09/30/2025 (Code V)
• Filing does not state the reason for the 175,565.745 share disposition

Insights

Corporate Governance Expert

Large open-market or other disposition reported alongside new RSU grants on 09/30/2025.

The filing reports a disposition of 175,565.745 shares (Code V), which is material as it reflects a sizeable change in the CEO's direct common-stock holdings. The filing does not specify the reason for the disposition or whether proceeds were used for taxes, diversification, or other purposes.

The form is signed by an attorney-in-fact on 10/02/2025, confirming the reporting. This transaction is clearly disclosed but the filing contains no explanation for the sale that would clarify intent.

Compensation & Equity Awards Expert

Multiple RSU awards were acquired and include clear vesting schedules.

The report lists acquisitions of 83, 237, 432, and 312 restricted stock units on 09/30/2025, each entitling the holder to one share upon vesting and carrying dividend equivalent rights. The filing specifies staggered vesting dates for the awards and that the Matching RSUs vest on 03/31/2028 and may settle in shares or cash depending on conditions.

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

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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^*

RYAN KIMBERLY K

(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)
	President & CEO

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								175,565.745	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)		83		(3)	(3)	Common Stock	83	$0	10,116	D
Restricted Stock Units (Deferred Stock Award 12/7/2023)	(1)	09/30/2025		A(2)		237		(4)	(4)	Common Stock	237	$0	28,788	D
Restricted Stock Units (Deferred Stock Award 12/5/2024)	(1)	09/30/2025		A(2)		432		(5)	(5)	Common Stock	432	$0	52,423	D
Restricted Stock Units (Matching RSU Framework 03/31/2025)	(1)	09/30/2025		A(2)		312		(6)	(6)	Common Stock	312	$0	37,829	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 Kimberly K. Ryan	10/02/2025
	** 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).
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FAQ

What did Hillenbrand CEO Kimberly K. Ryan report on Form 4 (HI)?

The filing reports a disposition of 175,565.745 common shares on 09/30/2025 and acquisitions of 83, 237, 432, and 312 restricted stock units on the same date.

What does Code V mean in this Form 4 for HI?

Code V is the transaction code shown for the 175,565.745 share disposition in the filing; the form does not provide additional context for the code beyond standard Form 4 coding.

How many shares will the reported RSUs convert into for Kimberly K. Ryan?

Each reported RSU converts into one share; the filing lists underlying common-stock amounts of 10,116, 28,788, 52,423, and 37,829 beneficially owned following each respective award.

When do the RSUs vest according to the Form 4?

The filing discloses staggered vesting: earlier awards vest in thirds across specified December dates, the 2024 award vests one-third each December through 12/05/2027, and the Matching RSUs vest on 03/31/2028.

Who signed the Form 4 for Kimberly K. Ryan and when?

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