Form 4: HBNC Executive Sells Shares for Tax Obligations

Horizon Bancorp Executive Vice President Mark E. Secor disposed of 250 shares of common stock to cover tax withholding obligations.

Summary

• Executive Vice President Mark E. Secor of Horizon Bancorp Inc. (HBNC) reported a transaction involving the disposition of common stock.
• On March 18, 2026, Secor disposed of 250 shares of HBNC common stock.
• The shares were sold at a price of $15.71 per share.
• This transaction, indicated by code 'F', represents a disposition to the issuer to satisfy tax withholding obligations.
• Following this transaction, Mark E. Secor directly beneficially owns 39,283 shares of common stock.
• Additionally, Secor indirectly beneficially owns 21,238 shares of common stock through a Thrift Plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the disposition of shares is for tax withholding purposes, which is a standard practice and not a discretionary sale reflecting management's view on the stock.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those marked with transaction code 'F' for tax withholding, are common and generally not indicative of management's sentiment towards the company's future prospects. Such transactions are often pre-scheduled or mandatory to cover tax liabilities arising from equity awards.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine tax-related transaction by an executive, not a discretionary sale.

Key Dates

Recommendation

The transaction reported is a routine disposition of shares to satisfy tax withholding obligations, not a discretionary sale. As such, it does not provide new information that would significantly alter the investment thesis for Horizon Bancorp Inc. and therefore a 'hold' recommendation is maintained.

Keywords

Horizon Bancorp, HBNC, Mark E. Secor, Insider Transaction, Form 4, Tax Withholding, Executive Compensation