Form 4: Horizon Bancorp Executive Sells 590 Shares Due to Retirement Plan Change

A Horizon Bancorp executive sold 590 shares of common stock due to changes in the company's Supplemental Executive Retirement Plan.

Summary

• Todd A. Etzler, an Executive Vice President & General Counsel at Horizon Bancorp, sold 590 shares of the company's common stock on December 4, 2024.
• The sale occurred because Horizon Bancorp eliminated its common stock as an investment option within its 2005 Supplemental Executive Retirement Plan (SERP).
• The 590 shares were liquidated, and the cash value was credited to Mr. Etzler's plan account under the SERP.
• The shares were sold at a price of $17.99 per share.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to an executive's retirement plan, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction related to changes in executive compensation plans, which is common in the financial industry.

Comparison to Industry Standards

• Executive stock sales due to changes in retirement plans are a common occurrence across the financial industry.
• Many financial institutions offer supplemental executive retirement plans, and adjustments to these plans can lead to similar transactions.
• The sale of 590 shares is relatively small and unlikely to have a significant impact on the overall market.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive due to a retirement plan change.
• The change in the retirement plan may have a minor impact on the executive's personal finances.

Key Dates

Keywords

Horizon Bancorp, Executive Stock Sale, SERP, Todd A. Etzler, Stock Liquidation, Retirement Plan