Form 4: Director Hagen's ERIE Stock Holdings Update

A recent SEC Form 4 filing details Director Jonathan Hirt Hagen's beneficial ownership and deferred compensation share credits in Erie Indemnity Co.

Summary

• Director Jonathan Hirt Hagen reported his beneficial ownership in Erie Indemnity Co. (ERIE).
• Directly owns 223,130 shares of Class A Common Stock.
• Indirectly owns 200 shares of Class A Common Stock through a daughter and 200 shares through a son, with the reporting person disclaiming beneficial ownership for these securities.
• Acquired 70.11 Directors' Deferred Compensation Share Credits on October 21, 2025, through dividend reinvestment under the Outside Directors' Deferred Compensation Plan.
• These share credits represent the right to receive an equivalent number of Class A Common Stock shares when his service as a Director of the Company ends, with no exercisable or expiration dates.
• The value of the acquired share credits was $325.89 per credit.
• Total beneficially owned Directors' Deferred Compensation Share Credits are 16,690.224.
• Directly owns 1 share of Class B Common Stock, which is convertible to 2,400 shares of Class A Common Stock.
• Indirectly owns 585 shares of Class B Common Stock as a Contingent Beneficiary & Co-Trustee of a Trust, convertible to 1,404,000 shares of Class A Common Stock.
• Indirectly owns 1,170 shares of Class B Common Stock as a Primary Beneficiary & Co-Trustee of a Trust, convertible to 2,808,000 shares of Class A Common Stock.
• Class B Common Stock is convertible to Class A Common Stock at a rate of 2,400 Class A shares for each Class B share, with no specific exercise price, exercise dates, or expiration dates associated with this conversion feature.

Sentiment

Score: 6

Explanation: Slightly positive due to the director's continued accumulation of deferred compensation share credits, indicating ongoing alignment with shareholder interests, though it's a routine compensation event rather than an open market purchase.

Positives

• Director Hagen increased his deferred compensation share credits by 70.11 units through dividend reinvestment, indicating continued participation in the company's long-term incentive plan.
• Significant direct and indirect holdings through trusts demonstrate substantial alignment of interests with shareholders.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• The reporting person disclaims beneficial ownership of securities held by family members for the purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure of insider holdings and deferred compensation, common across publicly traded companies, and does not provide specific industry-related insights beyond the company's internal compensation structure.

Related Party Transactions

• Indirect beneficial ownership through trusts where the reporting person is a contingent or primary beneficiary and co-trustee.
• Indirect beneficial ownership of Class A Common Stock held by immediate family members (daughter, son).

Stakeholder Impact

• Shareholders: Provides transparency into director's holdings and long-term incentives, potentially signaling confidence in the company's future.
• Employees: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing primarily details a director's beneficial ownership and the acquisition of deferred compensation share credits. While the accumulation of share credits indicates continued alignment of interests, it is a routine compensation event and not a significant open market purchase or sale that would warrant a change in investment recommendation based solely on this filing. The substantial existing holdings, both direct and indirect, suggest long-term commitment, supporting a 'hold' stance for existing investors.

Keywords

Erie Indemnity Co, ERIE, Form 4, Insider Ownership, Director Holdings, Beneficial Ownership, Deferred Compensation, Class A Common Stock, Class B Common Stock, SEC Filing