Reed Steven William 4

What Happened

• Steven W. Reed, a director of Horizon Bancorp, received an award of 2,681 derivative units (Deferred Stock Units/DSUs) on 2026-02-27. The units are valued at $16.74 each for a total reported value of $44,880. This was an award/compensation grant (Form 4 code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-27; Filing date: 2026-03-02.
• Award: 2,681 DSUs at $16.74 per unit; total value $44,880 (derivative).
• DSU treatment: Each DSU is the economic equivalent of one share and becomes payable in cash, stock, or a combination at the issuer’s discretion under the Directors Preferred Compensation Plan (see footnote F2).
• Footnote F1: The report notes inclusion of 1,024 shares acquired via the company’s Dividend Reinvestment Plan (DRIP) since the last Form 4; those DRIP shares were exempt from Section 16 reporting and short-swing profit provisions. Footnote F3 indicates share counts were adjusted to include DRIP purchases since the last ownership report.
• Shares owned after the reported transaction: Not specified in the materials provided.

Context

• This transaction is a compensation award (derivative DSUs) for a director — typically a routine, non-market purchase event. DSUs do not necessarily reflect an immediate change in voting stock or an open-market investment: they convert to cash and/or shares later per the plan's terms.