BORNEMAN J RALPH JR 4

What Happened
J. Ralph Borneman Jr, a director of Erie Indemnity Company (ERIE), was credited with 105.534 derivative shares (share credits) on 2026-01-21 at a reported per‑share value of $279.90, a notional value of $29,539. This was recorded as an "other acquisition or disposition (J)" — a non‑market acquisition of share credits under director compensation arrangements rather than an open‑market purchase.

Key Details

• Transaction date and price: 2026-01-21; 105.534 shares at $279.90 each (total ~$29,539).
• Transaction type: Code J — other acquisition/disposition (derivative share credits).
• Shares owned after transaction: Not specified in the report.
• Filing date: 2026-01-22 (filed one day after the transaction) — appears timely.
• Relevant footnotes from the filing:
  • F1: Conversion price not applicable to shares granted under the Outside Directors' Deferred Compensation Plan.
  • F2: Acquisition may reflect dividend reinvestment for the Directors' Deferred Compensation Plan.
  • F3: These are Share Credits under the Outside Directors' Stock Plan — rights to receive equivalent Class A shares when the director's service ends; no exercisable or expiration dates.

Context
Share Credits are a form of deferred compensation/stock plan accounting for outside directors; they represent the right to receive shares in the future rather than an immediate stock purchase. Such credits are routine for director pay and do not necessarily reflect a trading signal. Because this was a derivative crediting under company plans (not an open‑market buy or sale), it should be interpreted as compensation/deferral activity rather than an outright bullish insider purchase.