Form 4: Horizon Bancorp Executive Vice President Sells 14,909 Shares Due to Retirement Plan Change

An executive vice president at Horizon Bancorp sold 14,909 shares of common stock due to changes in the company's Supplemental Executive Retirement Plan.

Summary

• Kathie A. DeRuiter, an Executive Vice President at Horizon Bancorp, sold 14,909 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 shares were liquidated, and the cash value was credited to DeRuiter's plan account under the SERP.
• The sale price was $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 and is not indicative of broader industry trends.

Comparison to Industry Standards

• Executive stock sales due to retirement plan changes are common across various industries.
• Many companies offer supplemental retirement plans that may include company stock as an investment option.
• Changes to these plans are not unusual and are often part of regular plan administration.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale related to a retirement plan change.

Key Dates

Keywords

Horizon Bancorp, HBNC, Executive Vice President, Kathie A. DeRuiter, SERP, stock sale, common stock, retirement plan, liquidation