Peoples Bancorp director boosts stake with 429 shares in compensation

Rhea-AI Filing Summary

Peoples Bancorp Inc. (PEBO) – Form 4 filing dated 07/02/2025

Non-employee director Kevin R. Reeves reported the receipt of 429 shares of PEBO common stock on 06/30/2025. The shares, valued at $30.54 each (≈ $13.1 k total), were issued in lieu of cash for quarterly retainer and meeting fees, as disclosed in the footnote. Following the transaction, Reeves’ direct ownership stands at 11,367.84 shares. No derivative securities were transacted, and there were no dispositions.

The filing signals a modest increase in insider equity alignment, though the purchase was compensation-related rather than an open-market buy, limiting its signaling strength for investors.

Positive

• Director’s holdings increased, signaling continued equity alignment with shareholders.

Negative

• Transaction is compensation-based rather than an elective open-market purchase, reducing its signaling value.
• Size is immaterial (≈$13 k) relative to company market capitalization.

Insights

Financial Analyst

TL;DR – Small, compensation-related share issuance moderately enhances insider alignment; immaterial to valuation.

The reported 429-share award (≈0.003% of PEBO’s 34 m shares outstanding) reflects routine director compensation, not an opportunistic purchase. While any increase in insider ownership is directionally positive, the dollar value is negligible relative to the company’s market cap (~$1 bn). No derivatives, sales, or multiple insiders are involved, so the filing has minimal market impact. Investors may view the continued acceptance of equity instead of cash as a nod to confidence, but it should not alter earnings or capital forecasts.

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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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).

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^*

Reeves Kevin R

(Last) (First) (Middle)

138 PUTNAM STREET

(Street)

MARIETTA OH 45750

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PEOPLES BANCORP INC [ PEBO ]

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)
06/30/2025

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	06/30/2025		A(1)		429	A	$30.54	11,367.84	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. Represents Board meeting fees and quarterly retainer paid in stock as part of non-employee director compensation.

Remarks:

	/s/ Jason A. Silcott, attorney-in-fact for Mr. Reeves	07/02/2025
	** 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).
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 PEBO shares did Director Kevin R. Reeves acquire on 06/30/2025?

He received 429 shares of common stock.

What was the price per share reported in the Form 4 filing?

The shares were valued at $30.54 each.

Is this an open-market purchase?

No. The shares were issued as .

What is Kevin R. Reeves’s total direct ownership after the transaction?

He now directly owns 11,367.84 PEBO shares.

Were any derivative securities involved in this Form 4?

No derivative securities were acquired or disposed of in the reported transaction.