Erie Indemnity (ERIE) credits 614.724 deferred share-plan units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Erie Indemnity Company executive vice president and chief information officer Srinivasa Parthasarathy reported an administrative compensation-related transaction involving deferred share credits. On the company’s Incentive Compensation Deferral Plan, he was credited with 614.724 share credits linked to Class A common stock from an Annual Incentive Plan award.
These share credits represent the right to receive an equivalent number of Class A common shares when he retires or otherwise leaves the company, and they have no exercise or expiration dates. Following this credit, his plan account reflects 1,922.715 share credits. This is a structured compensation deferral entry rather than an open-market stock purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Srinivasa Parthasarathy
Role
EVP, Chief Information Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Incentive Compensation Deferral Plan Share Credits | 614.724 | $246.91 | $152K |
Holdings After Transaction:
Incentive Compensation Deferral Plan Share Credits — 1,922.715 shares (Direct)
Footnotes (1)
- Conversion price is not applicable to shares granted under the Erie Indemnity Company Incentive Compensation Deferral Plan. Acquired under the Erie Indemnity Company Incentive Compensation Deferral Plan from an Annual Incentive Plan award. The shares subject to this reporting are Share Credits which are periodically credited to the accounts of a select group of management and highly compensated employees of Erie Indemnity Company pursuant to its Incentive Compensation Deferral Plan. These Share Credits represent the right to receive an equivalent number of shares of Erie Indemnity Company Class A common stock when the reporting individual retires or otherwise separates from service with the Company. There are no exercisable or expiration dates for these securities.