Form 4: Horizon Bancorp Executive Vice President Sells 19,439 Shares Due to Retirement Plan Change

An executive vice president at Horizon Bancorp sold 19,439 shares of common stock due to changes in the company's Supplemental Executive Retirement Plan.

Summary

• Mark E. Secor, an Executive Vice President at Horizon Bancorp, sold 19,439 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 Mr. Secor's plan account within the SERP.
• The sale price was $17.99 per share.

Sentiment

Score: 5

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

Industry Context

This is a routine filing 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 similar supplemental retirement plans, and adjustments to these plans can trigger stock sales by executives.
• The sale of 19,439 shares is not unusual for an executive at a company of Horizon Bancorp's size.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale related to a retirement plan change.
• The sale does not indicate any change in the company's financial health or future prospects.

Key Dates

Keywords

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