Form 4: Horizon Bancorp Director Reports Changes in Beneficial Ownership

Director Lawrence E. Burnell reports changes in beneficial ownership of Horizon Bancorp Inc. shares, including acquisitions through a dividend reinvestment program and deferred stock units.

Summary

• Lawrence E. Burnell, a director of Horizon Bancorp Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The report indicates that Burnell directly owns 9,484 shares of common stock and indirectly owns 28,851 shares through a trust.
• He also acquired 2,470 deferred stock units (DSUs) on March 6, 2025, each equivalent to one share of common stock, at a price of $16.19.
• These DSUs will be payable in cash or common stock, or a combination of both, at the issuer's discretion, based on the Directors Preferred Compensation Plan.
• The report also reflects adjustments to shareholdings due to purchases made through a dividend reinvestment program since the last ownership report.
• Following the reported transactions, Burnell directly owns 20,511 derivative securities.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, indicating routine transactions. The sentiment is neutral as it simply reports changes in ownership.

Positives

• The acquisition of deferred stock units aligns the director's interests with the long-term performance of the company.
• Participation in the dividend reinvestment program demonstrates a continued investment in Horizon Bancorp.

Future Outlook

The deferred stock units will become payable in cash or 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 the director's holdings, which can be of interest to investors.

Stakeholder Impact

• Shareholders may be interested in the changes in ownership by a director, as it can reflect their confidence in the company's prospects.

Key Dates