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EdgarHawk

Ellspermann Susan J

Director

Director
18 filings analyzed · 1 company · Latest 2026-03-17

Companies

Company Buys Sells Direction
GERMAN AMERICAN BANCORP, INC. GABC 18 0 Net buying

Activity

March 2026
medium
Buy
49 shares
$2,000
Significance 5/10

Director Ellspermann bought 49 GABC shares at $40.48; stock down 10.4% from 52-week high; cluster of 4 insiders buying within 14 days

Ellspermann Susan J purchased 49 shares of GABC at $40.48, adding to her 11,788-share position, in a transaction that occurred amid a recent price decline of 10.4% from the 52-week high of $44.37. At the same time, 4 other insiders also acquired shares within the past 14 days, suggesting coordinated or simultaneous conviction among the board. Her prior trades at GABC show mixed timing outcomes: 1 of 3 measurable 90-day periods yielded positive returns, indicating inconsistent predictive power at this ticker. The company's fundamentals remain sound with P/E of 11.56, recent quarterly revenue of $126.5M, and net income of $35.1M, alongside strong annual growth of 37.8%. The current price of $39.75 represents a pullback from the transaction price, making the timing and intent of this small purchase ($2.0K total) difficult to characterize definitively given the modest position increase of 49 shares.

January 2026
medium
Buy
25 shares
$1,000
Significance 4/10

Director Susan J Ellspermann bought 24 shares of GABC at $40.60 on 2026-01-15; part of cluster of 2 other insider purchases in past 14 days

Ellspermann's purchase of 24 shares at $40.60 represents a modest addition to her 11,663-share position. The transaction occurs within a cluster of 2 other insider buys in the prior 14 days, indicating multiple board or management personnel are actively purchasing at current levels. At the fundamental level, GABC shows solid performance: annual revenue growth of +11.6% and a P/E of 15.10 on $35.1M net income (latest quarter), though the current price of $40.31 reflects a -3.9% decline from the 52-week high and a -2.5% 30-day pullback. Ellspermann's same-ticker history shows mixed outcomes—only 1 of 3 prior buy trades with measurable 90-day results were ultimately well-timed (that trade yielded positive 90d return), while the most recent buy on 2025-12-15 is still within its 30-day window at -3.8%.

December 2025
Buy
24 shares
$1,000
Significance 4/10

Director Ellspermann purchased 24 GABC shares at $41.45; post-transaction holdings 11,639 shares (+0.2%); cluster pattern with 2 other insiders buying within 14 days.

Director Susan J Ellspermann purchased 24 shares at $41.45 on 2025-12-15 with a total value of $1,000.00, adding to her post-transaction holdings of 11,639 shares. The stock currently trades at $41.23, slightly below the purchase price, and is down 8.7% from its 52-week high of $45.14. At the same-ticker level, Ellspermann's prior 5 trades at GABC show mixed outcomes: 1 of 3 measurable 90-day results was well-timed (the June 2025 purchase returned +8.3% at 90 days), while others underperformed or declined in the 90-day window. The purchase coincides with a broader pattern—2 other insiders also bought within the past 14 days—which may reflect confidence in near-term prospects, though the modest transaction size ($1.0K) and minimal portfolio addition (+0.2%) limit the signal strength. GABC fundamentals show revenue of $126.5M in the latest quarter, annual growth of +11.6%, and a P/E of 15.44, consistent with a stable mid-cap regional bank valuation.

October 2025
medium
Buy
28 shares
$1,100
Significance 5/10

Director Susan J Ellspermann buys 28 GABC shares at $38.97; stock down 19.2% from 52-week high, cluster buy pattern present.

Director Ellspermann purchased 28 shares of German American Bancorp at $38.97, adding to her position of 11,538 shares post-transaction. The purchase occurs within a cluster of three other insider buys in the past 14 days, suggesting coordinated acquisition interest at the current price level. Against a mixed backdrop—the stock has declined 19.2% from its 52-week high of $46.57 and fallen 7.0% over 30 days—her same-ticker history shows mixed results: of three measurable 90-day outcomes at GABC, two were positive returns (+8.3% and +1.5%) while one was negative (-6.0%), indicating a 2-of-3 success rate at the 90-day mark. The company's fundamentals remain solid with revenue of $123,168,000.00, net income of $31,361,000.00, and annual growth of +11.6%, though the current P/E of 16.37 and market cap of $1,411,608,550.95 provide context for valuation assessment.

September 2025
medium
Buy
223 shares
$9,100
Significance 6/10

Director Ellspermann bought 222 GABC shares at $40.86; cluster buy signal with 4 other insiders in 14 days

Director Susan J Ellspermann purchased 222 shares of German American Bancorp at $40.86 on 2025-09-15, expanding her position to 11,510 shares and representing a 2.0% increase in her holdings. The purchase occurs within a cluster of 4 other insider buys across the past 14 days, suggesting coordinated confidence in the stock at current levels. At the same-ticker level, Ellspermann's prior 5 GABC trades show mixed near-term timing (2 of 3 measurable 90-day outcomes were positive), though her cross-ticker track record across 20 buys averages a 90d return of +4.6% with a 66.67% win rate. The company's fundamentals remain solid with annual revenue growth of +11.6%, net income of $31.4M, and a moderate P/E of 17.58, though the stock trades 13.2% below its 52-week high, suggesting valuation may be a factor in the recent cluster activity.

August 2025
medium
Buy
503 shares
$20,000
Significance 6/10

Director Ellspermann buys 503 GABC shares at $39.74; 4 other insiders also bought within 14 days (cluster signal).

Ellspermann Susan J (Director) purchased 503 shares of German American Bancorp at $39.74 on 2025-08-15, increasing her holdings to 11,219 shares. This buy occurred as part of a broader cluster pattern: 4 other insiders also purchased within the past 14 days, suggesting coordinated confidence in the company at current levels. At the same ticker, Ellspermann's track record is mixed—only 1 of 5 prior buys (20%) were well-timed based on subsequent 90-day returns, indicating inconsistent execution. The company shows solid fundamentals with revenue of $123,168,000.00 and net income of $31,361,000.00 in the latest quarter, plus annual revenue growth of +11.6%, though the stock is currently -14.1% from its 52-week high.

July 2025
medium
Buy
494 shares
$20,000
Significance 5/10

Director Susan Ellspermann buys 493 GABC shares at $40.49; 4 other insiders bought within 14 days.

Susan J. Ellspermann (Director) purchased 493 shares of German American Bancorp at $40.49 on 2025-07-15, bringing her holdings to 10,716 shares (+4.8% increase from prior position). This transaction coincides with a cluster pattern: 4 other insiders also bought within the same 14-day window, suggesting coordinated activity across the executive group. However, the director's recent same-ticker track record at GABC shows mixed results—of 3 prior purchases with measurable 90-day outcomes, 0 were well-timed (the stock declined in each case, ranging from -2.0% to -12.9% over 90 days). The current price of $40.79 is modestly above the purchase price but remains 12.4% below the 52-week high, and the stock has appreciated 10.7% over 30 days and 14.5% over 90 days following this buy. The company's fundamentals remain stable (11.6% annual revenue growth, $111.1M latest quarterly revenue, P/E of 20.29), providing a reasonable backdrop for the open-market accumulation.

June 2025
medium
Buy
45 shares
$1,700
Significance 4/10

Director Susan J Ellspermann buys 44 GABC shares at $37.78; stock down 20.8% from 52-week high, cluster pattern with 4 other insiders in past 14 days

Director Susan J Ellspermann purchased 44 shares of German American Bancorp at $37.78 on 2025-06-15, growing her holdings to 8,924 shares. The transaction occurs amid a 20.8% decline from the 52-week high of $46.57, and notably, four other insiders also purchased shares within the past 14 days, suggesting coordinated accumulation at lower valuations. At GABC specifically, Ellspermann's track record shows 0 of 4 prior measurable buys generated positive 90-day returns, with a most recent prior purchase on 2025-05-15 showing -5.9% over 30 days. The company's fundamentals remain stable with annual revenue growth of +11.6%, $10.5M net income, and P/E of 18.34, indicating the sell-off reflects price movement rather than deteriorating business performance. The cluster pattern—multiple directors buying simultaneously into a depressed price—warrants investigation into whether recent weakness is value-driven or signals emerging concerns.

May 2025
medium
Buy
21 shares
$850
Significance 4/10

Director Susan J Ellspermann bought 21 GABC shares at $39.70; cluster buy by 2 other insiders within 14 days.

Director Susan J Ellspermann purchased 21 shares of GERMAN AMERICAN BANCORP, INC. at $39.70 on 2025-05-15, increasing her holdings to 8,823 shares. The purchase is part of a cluster pattern, with 2 other insiders also buying within the past 14 days. At the $39.53 current price, the stock trades -15.1% from its 52-week high of $46.57, yet has gained +11.2% over the past 30 days. However, Ellspermann's prior trades at GABC present a cautionary pattern: of 4 prior buys at this ticker with measurable 90-day outcomes, 0 were well-timed, with cumulative 90-day returns of -11.3%, -2.0%, -12.9%, -10.5%, and -6.3% respectively. The company shows solid fundamentals with $111.1M quarterly revenue and +11.6% annual growth, but the consistent underperformance following her prior purchases at this ticker warrants attention to whether the cluster activity represents informed conviction or coincidental timing.

March 2025
medium
Buy
44 shares
$1,700
Significance 4/10

Director Ellspermann buys 43 shares of GABC at $38.98; 4 other insiders bought within 14 days; stock down 6.1% in 90 days.

Director Susan J. Ellspermann purchased 43 shares at $38.98, increasing her holdings to 8,793 shares, in what appears to be part of a coordinated activity: 4 other insiders also bought within the past 14 days, forming a cluster buy pattern. However, her prior trades at GABC show mixed timing outcomes—only 1 of 4 prior buys returned positive 90-day results, suggesting mixed predictive value. The current stock price of $38.83 sits 16.6% below the 52-week high and has declined 6.1% over the past 90 days, placing the transaction in a down market environment. While the company shows solid fundamentals (revenue growth of +11.6%, net income of $21.0M, and a P/E of 18.14), the cluster activity and modest transaction size together present a signal worth monitoring but lack the scale or consistency to indicate high conviction on timing.

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