Form 4: Erie Indemnity Director Boosts Holdings via Share Credits

Elizabeth A. Vorsheck, a Director and 10% owner of Erie Indemnity Co., reported an acquisition of 74.737 Class A Common Stock equivalent share credits through dividend reinvestment.

Summary

• Elizabeth A. Vorsheck, a Director and 10% owner of Erie Indemnity Co. (ERIE), filed a Form 4 statement of changes in beneficial ownership.
• The filing reports the acquisition of 74.737 Directors' Deferred Compensation Share Credits, which are equivalent to Class A Common Stock.
• These share credits were acquired on January 21, 2026, through dividend reinvestment provisions of the Erie Indemnity Company Deferred Compensation Plan for Outside Directors.
• The reporting person's direct beneficial ownership of non-derivative Class A Common Stock is 69,716 shares.
• Indirect beneficial ownership of non-derivative Class A Common Stock totals 3,891,230 shares, held through various trusts and the VEIC Limited Partnership.
• Additionally, the reporting person indirectly beneficially owns 2,340 shares of Class B Common Stock, which are convertible into 5,616,000 shares of Class A Common Stock at a 2,400:1 ratio.
• Total direct beneficial ownership of derivative securities (Directors' Deferred Compensation Share Credits) is 14,299.302 credits.

Sentiment

Score: 6

Explanation: The filing reports a routine acquisition of share credits through dividend reinvestment by a director and 10% owner, which is a neutral to slightly positive indicator of continued insider alignment with shareholder interests.

Positives

• Director Elizabeth A. Vorsheck acquired additional share credits, indicating continued participation in the company's deferred compensation plan and alignment with shareholder interests.
• The acquisition was through dividend reinvestment, a routine event that often signals a long-term commitment to the company.
• The filing provides comprehensive transparency regarding a significant insider's beneficial ownership structure, detailing both direct and indirect holdings across various trusts and a limited partnership.

Corporate Governance

Related Party Transactions

• The reporting person holds significant indirect beneficial ownership 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 a limited partnership (VEIC Limited Partnership). These structures represent complex related-party holdings.

Stakeholder Impact

• **Shareholders**: Provides increased transparency regarding a significant insider's holdings and ongoing participation in equity compensation plans, with dividend reinvestment suggesting continued confidence.
• **Management**: Reinforces the alignment of a key director and 10% owner with the company's long-term performance through equity ownership, which can be viewed positively for corporate stability.

Next Steps

• Continued participation in the Erie Indemnity Company Deferred Compensation Plan for Outside Directors.
• Potential future conversion of Class B Common Stock to Class A Common Stock as per the company's Articles of Incorporation.

Key Dates

Keywords

Erie Indemnity, ERIE, Form 4, Beneficial Ownership, Director Holdings, Insider Trading, Share Credits, Dividend Reinvestment, Class A Common Stock, Class B Common Stock, Corporate Governance, Elizabeth A. Vorsheck