Form 4: Horizon Bancorp Executive Sells 1,748 Shares Due to Retirement Plan Change

A Horizon Bancorp executive sold 1,748 shares of common stock due to changes in the company's Supplemental Executive Retirement Plan.

Summary

• Lynn Kerber, an EVP & SCCO at Horizon Bancorp, sold 1,748 shares of common stock on December 4, 2024.
• The sale occurred because Horizon Bancorp eliminated its common stock as an investment option within its Supplemental Executive Retirement Plan (SERP).
• The shares were liquidated, and the cash value was credited to Kerber's plan account under the SERP.
• The transaction was executed at a price of $17.99 per share.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to a change in a retirement plan, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction related to changes in executive compensation plans, and is not indicative of broader industry trends.

Comparison to Industry Standards

• Executive stock sales due to retirement plan changes are common across the financial industry.
• Many companies offer stock as part of executive compensation packages, and these plans often have provisions for changes in investment options.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it is a small sale by an executive.
• The change in the retirement plan may affect other executives participating in the SERP.

Key Dates

Keywords

Horizon Bancorp, HBNC, Executive Stock Sale, SERP, Supplemental Executive Retirement Plan, Form 4, Insider Trading