ERIE Director J. Ralph Borneman Receives 65 Share Credits

What Happened J. Ralph Borneman, a director of Erie Indemnity Company (ERIE), received 65 share credits on 2026-07-31 valued at $242.04 each (total ≈ $15,733). The filing reports an "other acquisition" (code J) of a derivative interest — these are Share Credits under the Outside Directors' Deferred Compensation Plan rather than an immediate open-market purchase of Class A shares.

Key Details

• Transaction date and filing: Acquired 65 share credits on 2026-07-31; Form 4 filed 2026-08-03 (filed within the required reporting window).
• Price and value: $242.04 per share-equivalent; total value about $15,733.
• Transaction type: Code J — Other acquisition (derivative Share Credits).
• Shares owned after transaction: Not reported as immediately owned common stock; these are deferred-share credits (see footnote).
• Relevant footnotes:
  • F1: Conversion price not applicable to shares under the Outside Directors' Deferred Compensation Plan.
  • F2: Acquisition was made under the Directors' Deferred Compensation Plan.
  • F3: The reported Share Credits represent the right to receive an equivalent number of Erie Class A shares when the director's service ends; there are no exercisable or expiration dates for these credits.

Context This is a routine director compensation event (deferred stock credit), not an open-market buy or sale. Share Credits give the director the right to receive company stock in the future upon termination of service and are not immediately tradable — they should be viewed as deferred compensation rather than an immediate insider purchase signal.