Form 4: 1st Source Corp Exec Sells Shares, 401(k) Holdings Detailed
Insider Transaction Report
A 1st Source Corp executive vice president sold 1,900 shares of common stock for $66.01 per share, while also detailing 401(k) acquisitions.
Summary
- John B. Griffith, Executive Vice President and Secretary of 1st Source Bank, a subsidiary of 1st Source Corp, reported a sale of company common stock.
- On December 10, 2025, Mr. Griffith disposed of 1,900 shares of 1st Source Corp common stock at a price of $66.01 per share.
- This transaction was executed pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled sale.
- Following the sale, Mr. Griffith directly beneficially owns 65,976 shares of common stock.
- Additionally, Mr. Griffith indirectly beneficially owns 7,511 shares through a 401(k) plan.
- Between January 1, 2024, and December 31, 2024, Mr. Griffith acquired 281 shares of 1st Source Corporation common stock under the 401(k) plan, with this information based on a plan statement dated December 31, 2024.
Sentiment
Score: 4
Explanation: The sale of shares by an executive is generally viewed as a slight negative, even if pre-planned. However, the existence of a 10b5-1 plan mitigates the negative sentiment, and the continued significant direct and indirect holdings, along with 401(k) acquisitions, provide some balance.
Positives
- The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled sale rather than an immediate reaction to new information.
- Mr. Griffith continues to hold a significant number of shares, both directly (65,976 shares) and indirectly (7,511 shares via 401(k)), demonstrating ongoing alignment with shareholder interests.
- Mr. Griffith acquired 281 shares through the 401(k) plan during 2024, showing continued participation in employee stock ownership.
Negatives
- An executive officer sold 1,900 shares of company common stock.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future outlook.
Management Comments
- "This Power of Attorney does not relieve the undersigned from responsibility for compliance with the undersigned's obligations under the Exchange Act, including without limitation, the reporting requirements under Section 16 of the Exchange Act."
Industry Context
This Form 4 filing details an individual insider transaction and does not provide broader industry context or trends. Such transactions are common for executives managing their personal portfolios, especially when executed under a Rule 10b5-1 plan.
Comparison to Industry Standards
- This filing reports an individual insider transaction and does not contain information suitable for comparison to global industry benchmarks, specific comparable companies, projects, or results.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | John B. Griffith granted a Limited Power of Attorney to Andrea G. Short, Brian S. Duba, and Brett A. Bauer to handle his Section 16 reporting obligations (Forms 3, 4, and 5) for 1st Source Corporation securities. | 2025-09-23 | This streamlines the process for filing insider trading reports, ensuring timely compliance with SEC regulations. It does not alter the underlying responsibilities of the reporting person but delegates the administrative task of filing. |
Related Party Transactions
- The sale of common stock by an executive officer (John B. Griffith) is a transaction involving a related party.
- The acquisition of shares through a 401(k) plan is also a transaction involving a related party (employee benefit plan).
Stakeholder Impact
- Shareholders: The sale by an executive could be interpreted by some shareholders as a slight negative signal, though mitigated by the 10b5-1 plan. The continued significant holdings indicate ongoing alignment of interests.
- Employees: The 401(k) acquisitions demonstrate continued participation in employee benefit plans.
Next Steps
- The reporting person will continue to comply with Section 16 reporting obligations for future transactions.
Key Dates
| Date | Description |
|---|---|
| 2024-01-01 | Start date for the period during which Mr. Griffith acquired 281 shares of common stock under the 401(k) plan. |
| 2024-12-31 | End date for the period during which Mr. Griffith acquired 281 shares of common stock under the 401(k) plan, and the date of the 401(k) plan statement. |
| 2025-09-23 | Effective date of the Limited Power of Attorney granted by John B. Griffith. |
| 2025-12-10 | Date of the reported transaction (sale of common stock). |
| 2025-12-11 | Date the Form 4 was signed by the attorney-in-fact. |
| 2033-08-20 | Expiration date of the Notary Public's commission for the Limited Power of Attorney. |
Recommendation
holdThe filing details a routine insider stock sale executed under a pre-arranged 10b5-1 plan, which typically does not signal new material information about the company's prospects. While an executive sale can sometimes be a minor negative, the pre-planned nature and the executive's continued substantial direct and indirect holdings suggest no immediate cause for concern or significant change in investment thesis based solely on this filing. The 401(k) acquisitions further indicate ongoing participation in company stock ownership. Therefore, a 'hold' recommendation is appropriate as this filing does not present new information warranting a change in investment position.
Keywords
1st Source Corp, SRCE, Insider Trading, Form 4, Stock Sale, Executive Compensation, Rule 10b5-1, Common Stock, 401(k)
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