Dugan Sean 4

What Happened

• Sean Dugan, Executive Vice President of Erie Indemnity Company (ERIE), was credited with 4.009 share credits on January 21, 2026. The report values these at $279.90 per share, totalling about $1,122.
• This was recorded as an "other acquisition" (derivative) under the company's Incentive Compensation Deferral Plan rather than an open-market purchase of Class A common stock.

Key Details

• Transaction date and price: 2026-01-21; 4.009 share credits at $279.90 each (total ≈ $1,122).
• Transaction code: J (other acquisition/disposition); treated as a derivative transaction (Share Credits).
• Shares owned after transaction: not specified in the Form 4 filing.
• Filing timeliness: Form 4 filed 2026-01-23 for the 2026-01-21 transaction (filed within the usual 2-business-day window).
• Notable footnotes:
  • F2: These credits were acquired via dividend reinvestment under the Deferral Plan.
  • F1: Conversion price not applicable to shares under the Deferral Plan.
  • F3: Share Credits represent a right to receive an equivalent number of Class A shares when the participant retires or separates from service; there are no exercisable or expiration dates.

Context

• These share credits are a deferred-compensation vehicle, not immediate stock ownership. They represent a promise to deliver equivalent shares in the future (typically upon separation), so they do not indicate an immediate bullish or bearish action by the insider.
• For retail investors, purchases or exercises that result in immediate stock ownership/sales can carry more near-term informational value; deferral plan credits are routine compensation adjustments.