Form 4: Director Ellspermann Increases Stake in German American Bancorp

Susan J. Ellspermann, a director of German American Bancorp, acquired additional shares of common stock through a dividend reinvestment and stock purchase plan.

Summary

• On September 15, 2024, Director Susan J. Ellspermann acquired 21.4692 shares of German American Bancorp common stock at a price of $39.59 per share.
• The transaction was executed through the company's Dividend Reinvestment and Stock Purchase Plan.
• Following the transaction, Ellspermann directly owns 8,547.1831 shares of German American Bancorp.
• The reported transaction was effected pursuant to a prior election made by the Reporting Person to use a portion of her director compensation to purchase shares of common stock through participation in the Company's Dividend Reinvestment and Stock Purchase Plan.
• Includes additional shares purchased pursuant to German American's dividend reinvestment plan.

Sentiment

Score: 7

Explanation: Director's increased stake is a positive signal, but the transaction is part of a routine plan.

Positives

• Director's participation in the Dividend Reinvestment and Stock Purchase Plan signals confidence in the company.
• Increased ownership aligns director's interests with those of other shareholders.

Industry Context

Directors purchasing shares in their own companies is generally viewed positively in the financial industry, as it demonstrates confidence in the company's future prospects.

Comparison to Industry Standards

• Director ownership is a common practice in publicly traded companies.
• Comparing Ellspermann's ownership percentage to that of directors at peer banks would provide a more comprehensive assessment.
• For example, directors at similar regional banks like Old National Bancorp or First Financial Bancorp often participate in similar stock purchase plans.

Stakeholder Impact

• The increased stake could positively influence shareholder sentiment.
• The transaction has minimal impact on employees, customers, suppliers, and creditors.

Key Dates