Form 4: Horizon Bancorp EVP Sells Shares for Tax Obligations

Horizon Bancorp's Executive Vice President and General Counsel, Todd A. Etzler, reported the disposition of 1,280 common stock shares to cover tax withholding obligations at a price of $16.28 per share.

Summary

• Todd A. Etzler, Executive Vice President & General Counsel of HORIZON BANCORP INC (HBNC), reported a transaction involving the company's common stock.
• The transaction, dated March 23, 2026, involved the disposition of 1,280 shares of common stock.
• The shares were disposed of at a price of $16.28 per share.
• This disposition was made to satisfy tax withholding obligations, indicated by transaction code 'F'.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Todd A. Etzler directly beneficially owns 28,069 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The disposition of shares is for tax withholding purposes and is part of a pre-arranged plan, not a discretionary sale, thus it does not reflect a change in management's confidence or outlook.

Future Outlook

The filing indicates a planned future transaction on March 23, 2026, under a Rule 10b5-1 plan, which suggests a pre-scheduled disposition rather than a discretionary sale.

Industry Context

StockSavvy.ai notes that routine insider transactions, particularly those related to tax withholding or pre-arranged 10b5-1 plans, are common across the financial services industry. These types of dispositions are generally not indicative of management's sentiment towards the company's future prospects, unlike open market sales.

Related Party Transactions

• The filing details a transaction between an executive officer (Todd A. Etzler) and the issuer (HORIZON BANCORP INC), which is inherently a related party transaction.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a small, non-discretionary transaction for tax purposes, not a signal of executive sentiment.
• Reporting Person: Reduces direct beneficial ownership by 1,280 shares, fulfilling tax obligations related to equity compensation.

Key Dates

Keywords

Horizon Bancorp, HBNC, Insider Trading, Form 4, Stock Sale, Executive Compensation, Rule 10b5-1, Tax Withholding