Erie Indemnity (ERIE) director reports more deferred share credits, large trust holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Erie Indemnity Company director Jonathan Hirt Hagen reported updated holdings of Erie Indemnity Class A and Class B securities. The main new activity was the acquisition of 39.475 Directors' Deferred Compensation share credits at a reference price of $253.63 per credit under the Directors' Deferred Compensation Plan, bringing his deferred share-credit balance to 16,896.473 credits.
These share credits represent the right to receive an equivalent number of Class A common shares when his board service ends, with no exercise or expiration dates. The filing also lists direct ownership of 223,130 Class A shares, small indirect Class A positions held by a son and daughter for which he disclaims beneficial ownership, and significant indirect Class B holdings through trusts. According to the company’s charter, each Class B share is convertible at any time into Class A stock at a rate of 2,400 Class A shares for each Class B share.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Hagen Jonathan Hirt
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Directors' Deferred Compensation Share Credits | 39.475 | $253.63 | $10K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Directors' Deferred Compensation Share Credits — 16,896.473 shares (Direct, null);
Class B Common Stock — 2,400 shares (Direct, null);
Class B Common Stock — 1,404,000 shares (Indirect, Contingent Beneficiary & Co-Trustee, Trust (#1));
Class A Common Stock — 223,130 shares (Direct, null);
Class A Common Stock — 200 shares (Indirect, By Daughter)
Footnotes (1)
- Held by family member. The Reporting Person disclaims beneficial ownership of these reported securities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for the purposes of Section 16 or for any other purpose. Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan. Acquired under Directors' Deferred Compensation Plan. The shares subject to this reporting are Share Credits which are periodically credited to the accounts of certain Directors of Erie Indemnity Company pursuant to its Outside Directors' Stock 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's service as a Director of the Company ends. There are no exercisable or expiration dates for these securities. Pursuant to the Articles of Incorporation of the Company, as amended, shares of Class B Common Stock (voting) of Erie Indemnity Company are convertible at any time to shares of Class A Common Stock (non-voting) at a conversion rate of 2,400 shares of Class A Stock for each share of Class B Stock. There are no exercise or expiration dates associated with this conversion feature and no specific exercise price when a Class B share is converted into Class A shares.
Key Figures
Deferred share credits acquired: 39.475 credits
Reference price per share credit: $253.63 per credit
Deferred share credits balance: 16,896.473 credits
+5 more
8 metrics
Deferred share credits acquired
39.475 credits
Directors' Deferred Compensation Plan transaction on Class A basis
Reference price per share credit
<money>$253.63</money> per credit
Directors' Deferred Compensation Plan transaction
Deferred share credits balance
16,896.473 credits
Total Directors' Deferred Compensation share credits after transaction
Direct Class A holdings
223,130 shares
Class A common stock directly owned after reported transactions
Indirect Class B trust position
2,808,000 underlying shares
Class A underlying shares from one Class B trust holding
Additional indirect Class B trust position
1,404,000 underlying shares
Class A underlying shares for each of two other trusts
Direct Class B holdings
2,400 underlying shares
Class A underlying shares from directly held Class B stock
Class B to Class A conversion rate
2,400:1
2,400 Class A shares for each Class B share under charter
Key Terms
Directors' Deferred Compensation Plan, Outside Directors' Stock Plan, Share Credits, Class B Common Stock, +1 more
5 terms
Directors' Deferred Compensation Plan financial
"Conversion price is not applicable to shares granted under the Outside Directors' Deferred Compensation Plan."
Outside Directors' Stock Plan financial
"credited to the accounts of certain Directors of Erie Indemnity Company pursuant to its Outside Directors' Stock Plan."
Class B Common Stock financial
"shares of Class B Common Stock (voting) of Erie Indemnity Company are convertible at any time"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these reported securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What did ERIE director Jonathan Hirt Hagen report in his latest Form 4 filing?
He reported updated holdings and a compensation-related transaction. Hagen acquired 39.475 Directors’ Deferred Compensation share credits, increasing his deferred balance to 16,896.473 credits, each representing a future right to receive one Erie Indemnity Class A common share when his board service ends.
What direct Class A common stock holdings in ERIE does Jonathan Hirt Hagen report?
He reports direct ownership of 223,130 Class A common shares. This figure reflects his personal holdings recorded in the Form 4 and is separate from indirect interests through family members, trusts, or deferred compensation share credits disclosed elsewhere in the same filing.