Form 4: Erie Indemnity Executive Cody Cook Reports Acquisition of Class A Common Stock
SEC Filing
Executive Vice President Cody Cook reports acquiring Class A Common Stock through a 401(k) plan and Incentive Compensation Deferral Plan.
Summary
- Cody Cook, an Executive Vice President at Erie Indemnity Co, filed a Form 4 on March 3, 2025, reporting changes in beneficial ownership of the company's stock.
- On February 28, 2025, Cook acquired 2.545 shares of Class A Common Stock at a price of $428.07 per share through a participant-directed transaction under the 401(k) Plan.
- Cook also holds 1,255.409 Share Credits under the Incentive Compensation Deferral Plan, which represent the right to receive an equivalent number of Class A common stock shares upon retirement or separation from the company.
- Following the reported transactions, Cook beneficially owns 1,066.128 shares of Class A Common Stock directly and 1,255.409 Share Credits indirectly.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The filing reflects an executive's ongoing investment in the company, which can be seen as a positive signal, but it's a routine transaction.
Positives
- The executive's participation in the 401(k) plan and Incentive Compensation Deferral Plan demonstrates confidence in the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates an executive's continued investment in the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include stock options, restricted stock units, or deferred compensation plans to align management's interests with those of shareholders.
- Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring compliance with SEC regulations.
Stakeholder Impact
- The transaction may have a minor positive impact on shareholder sentiment, as it reflects an executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/28/2025 | Date of transaction: Acquisition of Class A Common Stock. |
| 03/03/2025 | Date of Form 4 filing. |
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