DeRuiter Kathie A 4

What Happened
Kathie A. DeRuiter, Executive Vice President of Horizon Bancorp (HBNC), was granted 3,604 restricted shares on March 17, 2026 (acquired at $0.00). To satisfy tax withholding related to that award, 339 shares were withheld/disposed on March 18, 2026 at $15.71 per share, totaling about $5,326. The award vests in three annual installments per the restricted stock agreement.

Key Details

• Transaction dates: Grant on 2026-03-17 (award); withholding/disposition on 2026-03-18 to cover tax liability.
• Prices and values: Awarded 3,604 shares at $0.00; 339 shares withheld at $15.71 each for ~$5,326.
• Vesting: 1,201 shares vest on 2027-03-17, 1,201 on 2028-03-17, and 1,202 on 2029-03-17 (Footnote F1).
• Footnote F2: Grant amount was adjusted to reflect additional shares allocated to the reporting person's benefit plan account after the last ownership report.
• Ownership after transaction: Not specified in the filing.
• Filing date and timeliness: Form 4 filed 2026-03-20 covering the March 17–18 transactions; the March 18 withholding was reported within two business days, while the March 17 grant is reported three days after the grant date (the filing itself does not include a late-code).

Context
This was a restricted stock award (A) with standard tax withholding (F). Withholding shares to cover taxes is routine and does not indicate an open-market sale or a directional bet by the insider. Restricted awards signal compensation or retention incentives and will only become free of restrictions as the scheduled vesting dates are reached.