Hillenbrand (NYSE: HI) director discloses updated RSU holdings

Rhea-AI Filing Summary

Hillenbrand, Inc. director Dennis W. Pullin reported changes in his equity holdings as of 12/31/2025. Table I shows he held zero shares of common stock directly after the reported transactions, while Table II details multiple grants of restricted stock units (RSUs) tied to prior deferred stock awards from 2021 through 2025. The RSUs were credited at a price of $0 per unit, reflecting non-cash awards.

Each RSU represents the right to receive one share of Hillenbrand common stock and carries dividend equivalent rights that accrue on dividend record dates. These RSUs vest at the earlier of the next annual shareholder meeting or one year from grant, with accelerated vesting and share delivery upon a change in control, the director’s death or permanent disability, or shortly after the director leaves the board.

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).

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^*

Pullin Dennis W

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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								0	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 5/7/21)	(1)	12/31/2025		A(2)		8		(3)	(3)	Common Stock	8	$0	1,208	D
Restricted Stock Units (Deferred Stock Award 2/10/22)	(1)	12/31/2025		A(2)		20		(3)	(3)	Common Stock	20	$0	2,882	D
Restricted Stock Units (Deferred Stock Award 2/24/23)	(1)	12/31/2025		A(2)		20		(3)	(3)	Common Stock	20	$0	2,933	D
Restricted Stock Units (Deferred Stock Award 2/20/24)	(1)	12/31/2025		A(2)		22		(3)	(3)	Common Stock	22	$0	3,187	D
Restricted Stock Units (Deferred Stock Award 2/18/25)	(1)	12/31/2025		A(2)		29		(3)	(3)	Common Stock	29	$0	4,151	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. These Restricted Stock Units vest on the earlier to occur of the issuer's next annual meeting of shareholders or one year from the date of grant; provided, that these Restricted Stock Units will immediately vest upon, and in any case delivery of the shares underlying these Restricted Stock Units will not occur until, the occurrence of one of the following: a change in control of the issuer, the director's death or permanent and total disability, or one day after the date the director ceases to be a director of the issuer.

Remarks:

	/s/ Allison A. Westfall, Attorney-in-Fact for Dennis W. Pullin	01/05/2026
	** 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 insider activity at Hillenbrand (HI) is reported in this Form 4?

The filing reports that director Dennis W. Pullin updated his holdings to show zero shares of Hillenbrand common stock held directly and multiple positions in restricted stock units (RSUs) linked to prior deferred stock awards.

What type of securities did the Hillenbrand (HI) director acquire or hold?

The director holds restricted stock units from deferred stock awards dated 5/7/21, 2/10/22, 2/24/23, 2/20/24, and 2/18/25, each representing the contingent right to receive one share of Hillenbrand common stock.

At what price were the Hillenbrand (HI) restricted stock units recorded?

The RSUs reported in Table II were acquired or credited at a price of $0 per unit, indicating they are non-cash equity awards rather than open-market purchases.

When do the Hillenbrand (HI) director’s restricted stock units vest?

The RSUs vest on the earlier of Hillenbrand’s next annual meeting of shareholders or one year from the date of grant. They will immediately vest, and delivery of shares will occur upon a change in control, the director’s death or permanent and total disability, or one day after the director ceases to be a director.

Do the Hillenbrand (HI) restricted stock units pay dividends?

The RSUs are entitled to dividend equivalent rights, which accrue on dividend record dates, effectively mirroring the dividends that would be paid on the underlying common shares.

Does the Hillenbrand (HI) director still own any common stock directly?

Table I indicates an amount of 0 common shares beneficially owned directly following the reported transactions, with the director’s economic interest reflected through RSU holdings instead.