Correnti Salvatore 4

What Happened Salvatore Correnti, a director of Erie Indemnity Company (ERIE), was credited with 39.474 share credits on January 31, 2026. The filing values those derivative share credits at $283.01 each, for a notional total of $11,172. This was recorded as an "other acquisition" (transaction code J) under the Outside Directors' Deferred Compensation Plan — a non-cash deferred compensation credit rather than an open-market purchase.

Key Details

• Transaction date: 2026-01-31; reported on Form 4 filed 2026-02-02 (timely filing).
• Price/value reported: $283.01 per share credit; total value $11,172 (derivative).
• Shares credited: 39.474 share credits (fractional shares).
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes:
  • F1: Conversion price not applicable to shares under the Outside Directors' Deferred Compensation Plan.
  • F2: Acquired under Directors' Deferred Compensation Plan.
  • F3: These "Share Credits" represent the right to receive equivalent Class A common shares when the director’s service ends; no exercisable or expiration dates.
• Transaction code: J (other acquisition or disposition); this is a deferred-compensation credit, not a market trade.

Context Share credits under director deferred-comp plans are common and represent future delivery rights to company stock when service terminates; they are not immediate purchases of tradable shares. Such credits are routine compensation and should be viewed differently than open-market insider buys or sells.