Form 4: First Internet Bancorp COO Receives RSU Grant

First Internet Bancorp's President & COO, Nicole S. Lorch, was granted 8,084 Restricted Stock Units, vesting over three years.

Summary

• Nicole S. Lorch, President & COO of First Internet Bancorp (INBK), was granted 8,084 Restricted Stock Units (RSUs).
• The RSUs were granted under the First Internet Bancorp 2022 Equity Incentive Plan.
• These RSUs are scheduled to vest in substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029.
• Following this transaction, Nicole S. Lorch beneficially owns 78,449 shares of common stock.
• This total includes 136 shares acquired between November 28, 2025, and January 16, 2026, through the Dividend Reinvestment and Stock Purchase Plan.
• It also includes 23 shares acquired between November 28, 2025, and January 16, 2026, through the Employee Stock Purchase Plan.

Sentiment

Score: 7

Explanation: The RSU grant is a positive sign of executive retention and alignment with shareholder interests, reflecting standard compensation practices. It's not a major market-moving event but indicates stability in executive incentives.

Positives

• Grant of 8,084 Restricted Stock Units (RSUs) to a key executive, aligning management's interests with shareholders.
• Continued participation in the Dividend Reinvestment and Stock Purchase Plan and Employee Stock Purchase Plan, indicating ongoing investment by the executive.

Future Outlook

The granted Restricted Stock Units are scheduled to vest in substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029, indicating a future commitment and incentive structure for the executive.

Industry Context

This filing reflects a standard practice in the banking and financial services industry where executive compensation often includes equity grants like RSUs to align leadership incentives with long-term company performance and shareholder value.

Related Party Transactions

• Grant of 8,084 Restricted Stock Units to Nicole S. Lorch, President & COO, under the First Internet Bancorp 2022 Equity Incentive Plan.

Stakeholder Impact

• Shareholders: The RSU grant aligns the interests of a key executive with long-term shareholder value creation, potentially leading to improved performance and retention of talent.
• Employees: The existence of an Employee Stock Purchase Plan (ESPP) indicates opportunities for broader employee ownership and engagement.

Next Steps

• Vesting of RSUs in substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029.

Key Dates

Recommendation

This Form 4 filing details a routine executive equity grant and minor share acquisitions through employee plans. While positive for executive alignment, it does not provide sufficient new information to warrant a change in investment recommendation for First Internet Bancorp. It confirms ongoing executive compensation practices.

Keywords

First Internet Bancorp, INBK, Nicole S. Lorch, Restricted Stock Units, RSU, Equity Incentive Plan, Insider Transaction, Executive Compensation, Beneficial Ownership, Dividend Reinvestment Plan, Employee Stock Purchase Plan