Form 4: Erie Indemnity Co. Director Thomas Hagen Reports Changes in Beneficial Ownership

Director Thomas Hagen reports changes in beneficial ownership of Erie Indemnity Co. stock due to dividend reinvestment and holdings through estates and partnerships.

Summary

• Thomas Hagen, a director of Erie Indemnity Co., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The filing reflects shares held directly, indirectly through the Estate of Susan H. Hagen, the Family L.P., and the Susan Hagen Estate Settlement Trust.
• A dividend reinvestment under the Directors' Deferred Compensation Plan resulted in the acquisition of 45.081 share credits, representing the right to receive an equivalent number of Class A common stock shares when his service as a director ends.
• The reporting person disclaims beneficial ownership of securities held by the Estate of Susan H. Hagen and the Hagen FLP except to the extent of his pecuniary interest therein.
• 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.

Sentiment

Score: 6

Explanation: The document is a routine filing, indicating standard corporate governance practices. The dividend reinvestment is a mildly positive signal.

Positives

• The dividend reinvestment indicates a continued investment in the company by the director.

Future Outlook

The document does not contain specific forward-looking statements, but the dividend reinvestment suggests a continued commitment to the company.

Management Comments

• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.

Key Dates