Scheub Todd M. 4

What Happened
Todd M. Scheub, Executive Vice President of Finward Bancorp (FNWD), acquired a total of 568.183 shares through two transactions: a 39.183-share purchase at $35.56 on 2025-12-30 (≈ $1,393) and a 529-share grant/award at $36.60 on 2026-02-25 (≈ $19,361). Combined, these transactions represent roughly $20.8K of stock acquired. The 12/30 purchase was through the company’s Dividend Reinvestment Plan; the 2/25 entry was a grant/award.

Key Details

• Transaction dates and prices:
  • 2025-12-30: Purchase (P) — 39.183 shares @ $35.56 = $1,393 (acquired via DRIP; footnote F1)
  • 2026-02-25: Grant/Award (A) — 529 shares @ $36.60 = $19,361 (acquired)
• Total shares acquired: 568.183; total value ≈ $20,754.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: F1 — shares acquired from the Dividend Reinvestment Plan.
• Filing: Form filed 2026-02-27. The 12/30/2025 DRIP purchase appears to have been reported late (Form 4 is generally due within two business days of the transaction); the 2/25/2026 award was reported on 2/27/2026 (timely).

Context
A DRIP purchase means dividends were automatically used to buy additional shares (often fractional). A grant/award typically reflects compensation or an equity award; the filing does not detail whether award shares are restricted or subject to vesting. These are purchases/awards (insider acquisitions), which retail investors often view as more informative than routine sales, but filings alone do not explain the insider’s motivation.