Erie Indemnity Director J. Ralph Borneman Acquires 140 Shares

What Happened
J. Ralph Borneman Jr., a director of Erie Indemnity Company (ERIE), recorded an acquisition on 2026-07-21 of 140.139 share credits at an implied price of $215.82 each, valuing the transaction at approximately $30,245. This was an other acquisition (code J) of derivative share credits rather than an open‑market stock purchase.

Key Details

• Transaction date: 2026-07-21; Form 4 filed 2026-07-22 (timely).
• Transaction type/code: Other acquisition (J) — derivative share credits.
• Quantity and price: 140.139 share credits at $215.82 per share; total ≈ $30,245.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F2: Acquired under dividend reinvestment for the Directors' Deferred Compensation Plan.
  • F3: These are Share Credits under the Outside Directors' Stock Plan — they represent the right to receive an equivalent number of Class A shares when the director’s service ends; there are no exercisable or expiration dates.
  • F1: Conversion price not applicable to shares under the Outside Directors' Deferred Compensation Plan.

Context
Share Credits are a form of deferred compensation for directors and are different from an immediate open‑market purchase — they represent a future right to receive shares (typically when service ends). This is a routine, modest-value director compensation event (~$30K) and should be viewed as administrative/compensation-related rather than a direct market sentiment signal.