Form 4: Horizon Bancorp Director Lawrence E. Burnell Reports Changes in Beneficial Ownership

Director Lawrence E. Burnell reports adjustments to his holdings in Horizon Bancorp, including dividend reinvestments and deferred stock units.

Summary

• Lawrence E. Burnell, a director of Horizon Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The report indicates adjustments to his holdings due to dividend reinvestments.
• Burnell directly owns 9,484 shares of common stock.
• He indirectly owns 28,851 shares through a trust.
• He was granted 3,321 Deferred Stock Units (DSUs) on May 1, 2024, each equivalent to one share of common stock.
• The DSUs will be payable in cash, common stock, or a combination thereof, based on the Issuer's Directors Preferred Compensation Plan.
• Following the reported transactions, Burnell beneficially owns 18,041 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a standard regulatory filing. The director is increasing their stake in the company which is a positive sign.

Positives

• The report shows continued investment in the company by a director through dividend reinvestments and deferred stock units.

Future Outlook

The DSUs become payable in cash, common stock, or a combination of the two, at the discretion of the Issuer upon the conditions described in the Issuer's Directors Preferred Compensation Plan.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in ownership by a director, which is typical activity.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership stake of a company director.

Key Dates