1ST SOURCE CORP (SRCE) chair reports bona fide gift of 2,000 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
1ST SOURCE CORP Executive Chairman Christopher J. Murphy III reported a bona fide gift of 2,000 shares of the company’s common stock on June 12, 2026. Following this gift, he directly holds 493,885 common shares.
The filing also lists substantial additional common stock held indirectly through an LLC, limited partnerships, a corporation, a 401(k) plan, and his spouse. Footnotes explain that Murphy disclaims beneficial ownership of shares held by these entities beyond his pecuniary interest, so these indirect positions are largely attributed to the respective entities rather than to him personally.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,000 shares gifted
Mixed
7 txns
Insider
MURPHY CHRISTOPHER J III
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 2,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 493,885 shares (Direct, null);
Common Stock — 2,513,812 shares (Indirect, By Spouse)
Footnotes (1)
- Mr. Murphy disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Murphy is the beneficial owner of the securities for purpose of Section 16 or for any other purpose. Mr. Murphy disclaims beneficial ownership of those shares held by the partnership exceeding his pecuniary interest, and this report shall not be deemed an admission that Mr. Murphy is the beneficial owner of such excess shares for purposes of Section 16 or for any other purpose. Mr. Murphy's spouse is a voting member, and Mr. Murphy is a non-voting member, of the LLC. Mr. Murphy disclaims beneficial ownership of those shares held by the LLC exceeding his pecuniary interest, and this report shall not be deemed an admission that Mr. Murphy is the beneficial owner of such excess shares for purposes of Section 16 or for any other purpose.
Key Figures
Shares gifted: 2,000 shares
Direct holdings after gift: 493,885 shares
Indirect holdings via LLC: 584,600 shares
+5 more
8 metrics
Shares gifted
2,000 shares
Bona fide gift of common stock on June 12, 2026
Direct holdings after gift
493,885 shares
Common stock directly owned after June 12, 2026 transaction
Indirect holdings via LLC
584,600 shares
Common stock held indirectly through LLC
Indirect holdings via Ltd. Partnership
214,770 shares
Common stock held indirectly through limited partnership
Indirect holdings via ERCO III Partnership
282,119 shares
Common stock held indirectly through ERCO III Partnership
Indirect holdings via Corporation
125,893 shares
Common stock held indirectly through corporation
Indirect holdings via 401(k)
66,023 shares
Common stock held indirectly via 401(k) plan
Indirect holdings via spouse
2,513,812 shares
Common stock reported as held by spouse
Key Terms
bona fide gift, beneficial ownership, pecuniary interest, Section 16
4 terms
bona fide gift financial
"The transaction code G is described as a bona fide gift."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
beneficial ownership financial
"Mr. Murphy disclaims beneficial ownership of these securities."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of those shares held by the partnership exceeding his pecuniary interest"
Section 16 regulatory
"for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What insider transaction did SRCE’s Christopher J. Murphy III report?
Christopher J. Murphy III reported a bona fide gift of 2,000 shares of 1ST SOURCE CORP common stock. The transaction used code G, indicating a gift rather than a market sale, and reflects a non-cash transfer of ownership to another party.
What indirect holdings of SRCE stock are associated with Murphy?
The Form 4 lists indirect holdings of 1ST SOURCE CORP common stock through an LLC, limited partnerships, a corporation, a 401(k) plan, and his spouse. Each entry shows shares held by these entities, with Murphy reported as having indirect ownership interests.
How do the footnotes affect Murphy’s reported SRCE ownership?
Footnotes state that Murphy disclaims beneficial ownership of certain shares held by partnerships and the LLC beyond his pecuniary interest. They clarify that this filing should not be considered an admission that he beneficially owns those excess shares for Section 16 purposes.