Form 4: Horizon Bancorp Executive Secor Receives Stock Award
SEC Form 4 Filing
Executive Vice President Mark E. Secor of Horizon Bancorp received a stock award of 3,149 shares on March 18, 2025.
Summary
- Mark E. Secor, an Executive Vice President at Horizon Bancorp, received a stock award.
- The transaction occurred on March 18, 2025.
- Secor was awarded 3,149 shares of common stock.
- These shares were granted under a Restricted Stock Agreement.
- The shares will vest in three tranches: 1,049 shares on March 18, 2026, 1,050 shares on March 18, 2027, and 1,050 shares on March 18, 2028.
- Following the transaction, Secor beneficially owns 43,781 shares of Horizon Bancorp.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it simply reports a stock award, a common practice in executive compensation.
Positives
- The stock award could incentivize the executive to perform well, aligning his interests with those of the shareholders.
Industry Context
Stock awards are a common form of executive compensation in the banking industry, used to align management's interests with shareholder value and incentivize long-term performance.
Stakeholder Impact
- The stock award could potentially align the executive's interests with those of the shareholders, encouraging decisions that increase shareholder value.
Key Dates
| Date | Description |
|---|---|
| 03/18/2025 | Date of stock award transaction |
| 03/18/2026 | First vesting date for 1,049 shares |
| 03/18/2027 | Second vesting date for 1,050 shares |
| 03/18/2028 | Third vesting date for 1,050 shares |
| 03/19/2025 | Date of Form 4 filing |
Keywords
Horizon Bancorp, stock award, executive compensation, beneficial ownership, Form 4, Secor, HBNC, vesting
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