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 - Insurance News | InsuranceNewsNet

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December 9, 2021 Newswires
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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.


On December 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's Home Office campus in Erie, 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 on December 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


On December 9, 2021, the Company issued a press release (the "Press Release")
announcing that Brian 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 effective January 1, 2022
and Mr. Bolash will continue to serve as the Company's General Counsel and
Corporate Secretary.

There is no family relationship between Mr. 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 to Mr. 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, on December 7, 2021, the Company's
Board of Directors set the management fee rate charged by the Company to Erie
Insurance Exchange and approved an increase in shareholder dividends. See the
Press Release attached as Exhibit 99.1.


b) On December 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 of December
7, 2021 between Erie Insurance Exchange and Erie Indemnity Company
Exhibit 99.1 Press Release dated December 9, 2021
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)


--------------------------------------------------------------------------------

  Top of the Form
                                 Exhibit Index

Exhibit No.                 Description

10.1                          Agreement for Purchase and Sale of Real

Estate made as of December 7, 2021

                            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)

--------------------------------------------------------------------------------

Top of the Form

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