[Form 4] Horace Mann Educators Corporation Insider Trading Activity

Rhea-AI Filing Summary

First Mid Bancshares, Inc. (FMBH) Form 4 highlights

• Insider: Director Mary Westerhold
• Transaction date: 07 / 02 / 2025
• Action: Acquired 343.3178 common shares through the Company’s Deferred Compensation Plan at $38.966 per share (≈ $13.4 k).
• Post-transaction holdings: 13,987.9464 shares in the deferred plan and an estimated 317,523 total beneficial shares across IRAs, LLCs, trusts and direct ownership.
• Derivative activity: None reported.

The purchase is part of a scheduled quarterly acquisition under the deferred compensation arrangement, indicating continued participation rather than an opportunistic open-market buy. Although the number of shares added is small relative to Westerhold’s overall stake, cumulative insider ownership remains substantial, aligning the director’s economic interests with those of external shareholders.

Positive

• Insider accumulation: Director acquired additional shares, reinforcing confidence signal albeit modest.
• Strong alignment: Total beneficial ownership of ~317 k shares ties board member’s financial outcomes to shareholder value.

Negative

• Immaterial size: Purchase represents less than 0.1 % of Westerhold’s holdings and <0.002 % of shares outstanding, limiting market impact.
• Automatic plan trade: Acquisition occurred under a deferred compensation schedule, reducing discretionary insight into insider sentiment.

Insights

Financial Analyst

TL;DR: Small automatic insider buy; marginal positive, not thesis-changing.

The 343-share purchase (~$13 k) is immaterial against both Westerhold’s existing 317 k-share exposure and FMBH’s 16 m+ share count. Because the acquisition was executed via a pre-arranged deferred compensation plan, it supplies limited incremental information about management’s real-time sentiment. Still, the continued accumulation and large absolute insider stake provide modest comfort on alignment and downside risk.

Corporate Governance Expert

TL;DR: Governance neutral; scheduled plan buy confirms policy compliance.

The filing demonstrates proper Section 16 reporting and use of a 10b5-1-like mechanism, reducing litigation risk. Westerhold’s sizeable holdings (~2 % of shares outstanding) reinforce board-shareholder alignment. However, the tiny incremental purchase does not materially alter control dynamics or signal strategic shifts. Overall impact on governance perception is neutral.

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).

X

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^*

ZURAITIS MARITA

(Last) (First) (Middle)

1 HORACE MANN PLAZA

(Street)

SPRINGFIELD IL 62715

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HORACE MANN EDUCATORS CORP /DE/ [ HMN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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(1)	07/01/2025		S		5,000	D	$42.87	307,154.72(2)	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. The sale reported in this Form 4 was effected by a Rule 10b5-1 trading plan adopted by the Reporting Person on November 18, 2024.

2. Represents 210,840.720 vested restricted stock units and 96,314 shares of Common Stock.

Remarks:

	Linea K. Michael, Attorney in Fact for Marita Zuraitis	07/03/2025
	** 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).
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.

FAQ

How many FMBH shares did Director Mary Westerhold purchase on July 2 2025?

She acquired 343.3178 common shares at $38.966 each.

What is Mary Westerhold’s total beneficial ownership in First Mid Bancshares after the trade?

Approximately 317,523 shares across direct, IRA, LLC and trust accounts.

Was the FMBH insider purchase an open-market transaction?

No. The shares were bought through a scheduled Deferred Compensation Plan purchase.

Did the Form 4 report any derivative securities transactions?

No derivative securities were acquired or disposed of in this filing.

Does the filing indicate Mary Westerhold is still a director of FMBH?

Yes. The box for Director is checked, and no indication of departure is provided.