Bawel Zachary W 4

What Happened

• Zachary W. Bawel, a director of German American Bancorp, acquired 24.703 shares of common stock on March 17, 2026, at $40.48 per share for a total reported value of $1,000.
• The purchase was made through the issuer’s Dividend Reinvestment and Stock Purchase Plan using a portion of his director compensation (a routine plan-based purchase rather than an open-market cash buy).

Key Details

• Transaction date: 2026-03-17
• Transaction type/code: Purchase (P)
• Shares acquired: 24.703 at $40.48 each; total value reported: $1,000
• Shares owned after transaction: Not specified in the provided filing details
• Footnotes: (F1) Transaction effected pursuant to a prior election to use director compensation to purchase shares through the Dividend Reinvestment Plan. (F2) Includes additional shares acquired pursuant to the Dividend Reinvestment Plan.
• Filing timeliness: Report filed on 2026-03-17 (same day as the reported transaction)

Context

• This purchase was made via a dividend reinvestment/stock purchase plan tied to director compensation, which is a routine way insiders accumulate shares and does not necessarily reflect a new discretionary market buy.
• Purchases are generally more informative to investors than gifts or routine tax withholdings, but this filing reflects plan participation rather than an ad-hoc market signal.