Form 4: Horizon Bancorp Executive Kathie A. DeRuiter Reports Acquisition of Restricted Stock

Kathie A. DeRuiter, an Executive Vice President at Horizon Bancorp, reported the acquisition of 3,525 shares of common stock granted under a Restricted Stock Agreement.

Summary

• On March 18, 2025, Kathie A. DeRuiter, an Executive Vice President of Horizon Bancorp, acquired 3,525 shares of common stock.
• These shares were granted under a Restricted Stock Agreement.
• The shares will vest in three tranches: 1,175 shares on March 18, 2026, 1,175 shares on March 18, 2027, and 1,175 shares on March 18, 2028.
• Following the transaction, DeRuiter directly owns 56,792 shares of Horizon Bancorp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The stock grant suggests confidence in the executive and the company's future, but it's a routine transaction.

Positives

• The grant of restricted stock to an executive aligns their interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

This type of stock grant is a common practice in the banking industry to incentivize and retain key executives.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in the financial services industry.
• Companies like JPMorgan Chase and Bank of America also use restricted stock units (RSUs) with vesting schedules to align executive incentives with long-term shareholder value.

Stakeholder Impact

• The stock grant aligns the executive's interests with those of the shareholders, potentially leading to better performance and increased shareholder value.

Key Dates

Keywords

Horizon Bancorp, Kathie A. DeRuiter, Restricted Stock, Executive Compensation, Beneficial Ownership, HBNC, Form 4