Form 4: Erie Indemnity Director Acquires Deferred Share Credits

Erie Indemnity Director Elizabeth A. Vorsheck reported the acquisition of deferred compensation share credits and detailed her extensive beneficial ownership of Class A and Class B common stock.

Summary

• Elizabeth A. Vorsheck, a Director and 10% Owner of Erie Indemnity Co. (ERIE), reported changes in beneficial ownership.
• On October 31, 2025, Vorsheck acquired 39.474 Directors' Deferred Compensation Share Credits under the company's Outside Directors' Stock Plan.
• These Share Credits represent the right to receive an equivalent number of Erie Indemnity Company Class A Common Stock shares when Vorsheck's service as a Director ends.
• Following this transaction, Vorsheck directly beneficially owns 14,224.565 Directors' Deferred Compensation Share Credits.
• Vorsheck also reported direct beneficial ownership of 69,716 Class A Common Stock shares.
• Indirect beneficial ownership of Class A Common Stock totals 3,960,940 shares, held through various trusts (Audrey C. Hirt 1989/1990 Income Trust For E. Vorsheck, Elizabeth Vorsheck Revocable Trust, Frank William Hirt 1989/1990 Trust For E. Vorsheck) and VEIC Limited Partnership.
• Additionally, Vorsheck indirectly beneficially owns Class B Common Stock through trusts, which are convertible into Class A Common Stock at a rate of 2,400 Class A shares for each Class B share. These holdings include 1,170 Class B shares (underlying 2,808 Class A shares) and two separate holdings of 585 Class B shares each (underlying 1,404,000 Class A shares each).

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider filing reporting an acquisition of deferred compensation credits and existing beneficial ownership. It does not inherently indicate positive or negative company performance or significant new information beyond the compensation structure.

Positives

• The acquisition of Directors' Deferred Compensation Share Credits aligns the director's long-term interests with the company's performance, as the shares are received upon the end of service.

Future Outlook

The deferred compensation share credits represent a future right to receive Class A Common Stock upon the termination of the reporting individual's service as a Director, indicating a long-term incentive structure.

Industry Context

This Form 4 filing is a routine disclosure of insider holdings and compensation, common across publicly traded companies. The use of deferred compensation plans for outside directors is a standard practice to align director incentives with shareholder value over the long term.

Corporate Governance

Related Party Transactions

• The reporting person holds significant indirect beneficial ownership through various trusts, including the Audrey C. Hirt 1989/1990 Income Trust For E. Vorsheck, Elizabeth Vorsheck Revocable Trust, and Frank William Hirt 1989/1990 Trust For E. Vorsheck, as well as the VEIC Limited Partnership. These structures represent holdings by entities potentially related to the reporting person.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant insider's compensation structure and extensive beneficial ownership, which can influence perceptions of management alignment and control.

Next Steps

• Receipt of Class A Common Stock equivalent to the deferred compensation share credits upon the cessation of Elizabeth A. Vorsheck's directorship.

Key Dates

Keywords

Erie Indemnity, ERIE, Elizabeth A. Vorsheck, Form 4, beneficial ownership, director, 10% owner, deferred compensation, share credits, insider holdings