SRCE 1ST SOURCE CORP

MIXED Impact: 6/10 8-K
Horizon months Filed Apr 24, 2026 Processed 1mo ago SEC 0000034782-26-000034
8-K context-dependent: Items 5.02
Latest settled — T+20d
SRCE ▲ +1.44% at T+20d
NEUTRAL call ✓ call won +1.44% · α vs SPY -3.52% · entry $73.37 → $74.42
Next anchor: T+60d in 5w
Last close $78.52 (close Jun 12) · +7.03% from $73.37 entry
Entry anchored
Apr 24, 03:59 PM ET
via Databento tick
T+1d
+1.38%
call +1.38% · α +1.87%
$74.38
settled 7w ago
T+5d
-0.42%
call -0.42% · α -0.82%
$73.06
settled 6w ago
T+20d
+1.44%
call +1.44% · α -3.52%
$74.42
settled 24d ago
T+60d
—
call — · α —
—
in 5w

Price Chart

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Executive Summary

1st Source Corporation held its 2026 annual shareholder meeting, where shareholders approved amendments to three equity incentive plans and elected four directors to the board, including two nominees contested by ISS. The proxy fight context and approval of equity plan amendments under opposition signal governance tensions.

Actionable Insight

Monitor insider transaction patterns and future earnings calls for commentary on equity grant activity. The contested proxy vote and ISS opposition suggest ongoing governance scrutiny, which could resurface if performance lags.

Key Facts

  • Shareholders approved amendments to the 1982 Executive Incentive Plan (EIP), increasing the share reserve to 1,250,000 shares
  • Amendments to the Strategic Deployment Incentive Plan (SDIP) and Restricted Stock Award Plan approved, reserving 100,000 and 500,000 shares respectively
  • Directors Timothy Ozark and Todd Schurz were re-elected despite ISS recommending votes against them due to bylaw concerns
  • ISS opposed the EIP amendment, citing excessive share usage, but management rebutted with corrected dilution metrics
  • The EIP primarily issues book value shares (85.5% historically), which are non-tradable and redeemable only under specific conditions

Financial Impact

Up to 1,845,293 shares reserved under amended plans, with EIP accounting for 1.25M shares. Historical data shows ~85.5% of EIP shares issued as book value shares, limiting immediate market dilution.

dilutionshare countexecutive compensation

Risk Factors

  • Potential for increased share dilution over time as reserved shares are granted
  • Ongoing governance concerns from institutional investors regarding bylaws and equity plan design

Market Snapshot

Exchange
Nasdaq
Sector
State Commercial Banks
Analyst Consensus
67% bullish (9 analysts)

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0000034782-26-000034
Exhibit: exhibit10c1stsourcecorpora.htm0000034782-26-000034
Exhibit: exhibit10d1stsourcecorpora.htm0000034782-26-000034
Exhibit: exhibit10e1stsourcecorpora.htm0000034782-26-000034
Document: 0000034782-26-000034-index-headers.html0000034782-26-000034
Document: 0000034782-26-000034-index.html0000034782-26-000034
Document: 0000034782-26-000034.txt0000034782-26-000034
3 reports for SRCE
Performance horizon
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Reports for SRCE — sortable, filterable
Type Now
May 1, 2026
6w ago
8-K
NEUTRAL ★ 3/10
$73.43 $72.93▼ −0.67%▼ −5.96%$78.52 (+6.94%)
Apr 24, 2026
7w ago
8-K
MIXED ★ 6/10
$73.37 $74.42▲ +1.44%▼ −3.52%$78.52 (+7.03%)
Apr 23, 2026
7w ago
8-K
NEUTRAL ★ 5/10
$73.47 $73.48▲ +0.02%▼ −4.61%$78.52 (+6.88%)
Showing 3 of 3

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