Ellspermann Susan J 4

What Happened

• Susan J. Ellspermann, a director of German American Bancorp, Inc. (GABC), received a restricted stock award of 1,168 shares on 2026-06-29. The filing reports an acquisition (code A) at $0.00 per share (total recorded value $0).
• This award was issued as the annual non-employee director equity grant and will vest on July 1, 2027. This is a compensation grant (not an open-market purchase) and is routine for directors.

Key Details

• Transaction date: 2026-06-29; Filing date (Form 4): 2026-07-01 — filing appears timely.
• Price per share reported: $0.00; total reported value: $0.
• Shares involved: 1,168 restricted shares; vesting date: 2027-07-01 (per footnote).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote: award issued under the issuer’s non-employee director compensation arrangements (annual director equity grant).

Context

• Restricted stock awarded to directors is a common form of compensation and typically vests over time; it does not signal an outright market purchase or sale by the insider.
• Because this is a grant (not a purchase or sale), it should be viewed as routine compensation rather than an immediate expression of market sentiment.