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ERIE INDEMNITY CO FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits
Edgar Glimpses
Item 1.01 Entry into a Material Definitive Agreement.
OnDecember 7, 2021 ,Erie Indemnity Company (the "Company") entered into an Agreement for Purchase and Sale of Real Estate (the "Purchase Agreement") with Erie Insurance Exchange (the "Seller"), a reciprocal insurance exchange. The Company is the attorney-in-fact for the Seller. The Purchase Agreement provides that the Company will purchase from the Seller certain real property including office buildings, parking facilities and vacant land located at and in the vicinity of the Company'sHome Office campus inErie, Pennsylvania (the "Property"). The purchase price of the Property is$97,500,000 and will be paid in cash at the closing which is expected to occur onDecember 31, 2021 . The foregoing summary of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Executive Vice President
OnDecember 9, 2021 , the Company issued a press release (the "Press Release") announcing thatBrian W. Bolash , 56, has been appointed an Executive Vice President of the Company. Since joining the Company in 2000,Mr. Bolash has held several leadership positions and currently serves as Senior Vice President, Secretary and General Counsel. The appointment becomes effectiveJanuary 1, 2022 andMr. Bolash will continue to serve as the Company's General Counsel and Corporate Secretary. There is no family relationship betweenMr. Bolash and any other executive officer or member of the board of directors of the Company, and there are no related party transactions with regard toMr. Bolash that are reportable under Item 404(a) of Regulation S-K. Mr. Bolash is not a party to any plan, contract, or arrangement in connection with his appointment as an Executive Vice President of the Company.
See the Press Release attached as Exhibit 99.1.
Item 8.01 Other Events.
a) The Press Release also reported that, onDecember 7, 2021 , the Company's Board of Directors set the management fee rate charged by the Company toErie Insurance Exchange and approved an increase in shareholder dividends. See the Press Release attached as Exhibit 99.1. b) OnDecember 7, 2021 , the Board of Directors of the Company also approved the following regular quarterly dividend on shares of Erie Indemnity Company Class A common stock. Dividend Number: 366 Class A Rate Per Share:$1.11 Declaration Date:December 7, 2021 Ex-Dividend Date:January 4, 2022 Record Date:January 5, 2022 Payable Date:January 20, 2022
Item 9.01 Financial Statements and Exhibits.
Exhibit 10.1 Agreement for Purchase and Sale of Real Estate made as ofDecember 7, 2021 betweenErie Insurance Exchange and Erie Indemnity Company Exhibit 99.1 Press Release datedDecember 9, 2021 Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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Exhibit Index
Exhibit No. Description
10.1 Agreement for Purchase and Sale of Real
Estate made as of
between Erie Insurance Exchange and Erie Indemnity Company
99.1 Press Release dated December 9, 2021
104 Cover Page Interactive Data File (embedded
within the Inline XBRL document)
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