CONNELL EUGENE C 4
Research Summary
AI-generated summary
ERIE Director Eugene Connell Receives 39.474 Deferred Share Credits
What Happened
- Eugene C. Connell, a director of Erie Indemnity Company (ERIE), had 39.474 share credits credited to his account on Jan 31, 2026. The transaction is reported as an "other acquisition" (code J) of a derivative security at an attributable value of $283.01 per share credit, totaling $11,172. This was an acquisition of deferred compensation share credits — not an open-market stock purchase.
Key Details
- Transaction date and price: Jan 31, 2026; 39.474 share credits @ $283.01 each (total $11,172).
- Security type: Derivative — "Share Credits" under the Outside Directors' Deferred Compensation / Stock Plan.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnotes of note:
- F3/F4: Credits were granted under the Directors' Deferred Compensation / Outside Directors' Stock Plan and represent the right to receive an equivalent number of Class A shares when the director's service ends; no exercise or expiration dates.
- F2: Conversion/exercise price not applicable to these deferred-share credits.
- F1: Some shares are held by the reporting person's children living in his household; the reporting person disclaims beneficial ownership of those reported securities.
- Filing timeliness: Transaction dated Jan 31, 2026; Form 4 filed Feb 2, 2026 — filing appears timely.
Context
- These are deferred-compensation share credits (derivative rights), meaning Connell did not receive tradable shares immediately; the credits convert to actual Class A common stock upon the end of his service per plan terms. Such grants are routine for directors and reflect compensation arrangements rather than immediate market buys or sales.