Form 4: ICC Holdings CFO Disposes of Shares and RSUs Following Merger

Michael R. Smith, CFO of ICC Holdings, disposed of common stock and restricted stock units as a result of the merger with Mutual Capital Holdings, Inc. on March 13, 2025.

Summary

• Michael R. Smith, the Chief Financial Officer of ICC Holdings, Inc., filed a Form 4 on March 17, 2025, reporting changes in beneficial ownership.
• The filing pertains to transactions occurring on March 13, 2025, related to the merger between ICC Holdings, Inc. and Mutual Capital Holdings, Inc.
• As a result of the merger, Smith disposed of 8,131 shares of common stock, 18,953 shares held in a 401(k), 5,980 shares held by ESOP, and 27,280 shares held by IRA at a price of $23.50 per share.
• Additionally, Smith disposed of 500, 1,400 and 3,100 restricted stock units (RSUs) as part of the merger agreement.
• The merger resulted in ICC Holdings becoming a wholly-owned subsidiary of Mutual Capital Holdings, Inc.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports the execution of a previously announced merger. There are no indications of unexpected positive or negative outcomes.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a merger and acquisition (M&A) activity, where a company is being acquired by another. This is a common occurrence in various industries, including finance and insurance, where ICC Holdings operates. Such mergers can be driven by factors like market consolidation, strategic expansion, or financial restructuring.

Stakeholder Impact

• Shareholders received $23.50 per share as a result of the merger.
• Employees may experience changes as ICC Holdings becomes a wholly-owned subsidiary of Mutual Capital Holdings, Inc.

Key Dates