# EDGAR Filing Document

**Accession Number:** 0000909108
**File Stem:** 0000950103-26-001111
**Filing Date:** 2026-1
**Character Count:** 21182
**Document Hash:** 7395ce37a81e5ea7386260bc4abf1d34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-26-001111.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000950103-26-001111

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260128

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIAMOND HILL INVESTMENT GROUP INC
- **CENTRAL INDEX KEY:** 0000909108
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 650190407
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24498
- **FILM NUMBER:** 26573682

**BUSINESS ADDRESS:**
- **STREET 1:** 325 JOHN H MCCONNELL BLVD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 6142553333

**MAIL ADDRESS:**
- **STREET 1:** 325 JOHN H MCCONNELL BLVD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANC STOCK GROUP INC
- **DATE OF NAME CHANGE:** 19971016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HEARTLAND GROUP OF COMPANIES INC
- **DATE OF NAME CHANGE:** 19940301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HEARTLAND FINANCIAL GROUP INC
- **DATE OF NAME CHANGE:** 19930714

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** **Washington, D.C. 20549**

____________________________

**FORM 8-K**

____________________________

**CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**Date of report (Date of earliest event reported): January 28, 2026 (January 28, 2026)**

____________________________

**Diamond Hill Investment Group, Inc.** 

**(Exact name of registrant as specified in its charter)**

____________________________

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| | | |
|:---|:---|:---|
| **Ohio** | **000-24498** | **65-0190407** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission<br> File Number)** | **(I.R.S. Employer<br> Identification No.)** |

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**325 John H. McConnell Blvd, Suite 200 Columbus, Ohio 43215 (Address of Principal Executive Offices) (Zip Code)**

**Registrant's Telephone Number, Including Area Code: (614) 255-3333**

**Not Applicable (Former Name or Former Address, if Changed Since Last Report)**

____________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☒ Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common shares, no par value | DHIL | The Nasdaq Stock Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** 

As previously disclosed, on December 10, 2025, Diamond Hill Investment Group, Inc., an Ohio corporation (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with First Eagle Investment Management, LLC, a Delaware limited liability company ("Purchaser"), and Soar Christopher Holdings, Inc., an Ohio corporation and a wholly owned subsidiary of Purchaser ("Merger Sub"). Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the "Merger"), whereupon the separate existence of Merger Sub will cease, and the Company surviving will be the surviving corporation as a wholly-owned subsidiary of Purchaser.

The Merger is expected to close by the third quarter of 2026, subject to the satisfaction or waiver of customary closing conditions, including approval of the Company's shareholders, receipt of the requisite client consents based on revenue run rate and receipt of regulatory approvals (the "Closing").

On January 28, 2026, in connection with Thomas E. Line's role as the Chief Financial Officer of the Company and in consideration of his commitment to the Company as it works towards the Closing and the ongoing operation of the Company's business, the Compensation Committee of the Board of Directors of the Company approved a cash retention bonus award to Mr. Line, in an amount equal to $500,000 (the "Retention Bonus"), pursuant to a retention bonus award agreement (the "Retention Bonus Award Agreement"). The Retention Bonus will vest in two equal installments upon: (i) the Closing, and (ii) the six-month anniversary of the Closing, subject to his continued employment by the Company through each of the applicable vesting dates. If Mr. Line's employment is terminated by the Company, Purchaser or their applicable affiliates without "cause", or if he resigns for "good reason" prior to the applicable vesting date, the full amount of the Retention Bonus will be payable as soon as administratively practicable following his termination date, subject to his timely execution and non-revocation of a separation agreement and a release of claims in favor of the Company, Purchaser and their affiliates.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the Retention Bonus Award Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

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| | |
|:---|:---|
| **Exhibit <br> No.** | **Description** |
| [10.1](dp240409_ex1001.htm) | [Retention Bonus Award Agreement, dated January 28, 2026, by and between Diamond Hill Capital Management, Inc. and Thomas E. Line.](dp240409_ex1001.htm) |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**Forward-Looking Statements**

This communication, the documents incorporated herein by reference and statements, whether oral or written, made from time to time by representatives of the Company, may contain or incorporate "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated operating results, prospects and levels of assets under management, technological developments, economic trends (including interest rates and market volatility), expected transactions and similar matters. These forward-looking statements may include, without limitation, any statements preceded by, followed by or including words such as "may," "could," "can have," "believe," "expect," "aim," "anticipate," "target," "goal," "project," "assume," "budget," "potential," "estimate," "guidance," "forecast," "outlook," "would," "will," "continue," "likely," "should," "hope," "seek," "plan," "intend," and variations of such words and similar expressions. Similarly, descriptions of the Company's objectives, strategies, plans, goals, or targets are also forward-looking statements. Such forward-looking statements include but are not limited to statements about the proposed Merger, including the expected timetable for completing the Merger and statements that are not historical facts.

Forward-looking statements are based on the Company's expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. While the Company believes that the assumptions underlying its forward-looking statements are reasonable, investors are cautioned that any of the assumptions could prove to be inaccurate and, accordingly, the Company's actual results and experiences may differ materially from the anticipated results or other expectations expressed in its forward-looking statements. Factors that may cause the Company's actual results or experiences to differ materially from results discussed in forward-looking statements include, but are not limited to the factors discussed in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, each as filed with the Securities and Exchange Commission ("SEC"), and any factors discussed in the section entitled "Risk Factors" in any of our subsequently filed SEC filings, and the following: (i) the occurrence of any event, change, or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive transaction agreement between the Company and Purchaser, including in circumstances requiring the Company to pay a termination fee; (ii) potential litigation relating to the Merger that could be instituted against the parties to the definitive transaction agreement or their respective directors or officers, including the effects of any outcomes related thereto; (iii) the possibility that the Merger does not close when expected or at all because required regulatory, shareholder, or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all; (iv) reputational risk and potential adverse reactions of clients, employees or other business partners and the businesses generally, including those resulting from the announcement of the Merger, including any resulting reduction in the Company's AUM or AUA and the withdrawal, renegotiation or termination of any investment advisory agreements; (v) the risk that any announcements relating to the Merger could have adverse effects on the market price of the Company Common Shares; (vi) significant transaction costs associated with the Merger; and (vii) the diversion of management's attention and time from ongoing business operations and opportunities on Merger-related matters.

Forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and in the Company's other public documents on file with the SEC. New risks and uncertainties arise from time to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict these events or how they may affect it. The Company undertakes no obligation to update any forward-looking statements after the date they are made, whether as a result of new information, future events, changes in its expectations or developments or otherwise, except as required by law, although it may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.

**Additional Information and Where to Find It**

This Form 8-K does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities. This communication relates to the Merger. In connection with the Merger, the Company filed with the SEC a proxy statement on Schedule 14A (the "Proxy Statement"). This communication is not a substitute for the Proxy Statement or any other document that the Company may file with the SEC and send to its shareholders in connection with the Merger. The Merger will be submitted to the Company's shareholders for their consideration. Before making any voting decision, the Company's shareholders are urged to read all relevant documents filed or to be filed with the SEC, including the Proxy Statement, as well as any amendments or supplements to those documents, when they become available, because they will contain important information about the Company and the Merger.

**The Company's shareholders may obtain a free copy of the Proxy Statement, as well as other filings containing information about the Company, free of charge, at the SEC's website (www.sec.gov). Copies of the Proxy Statement and other documents filed by the Company with the SEC may be obtained, without charge, by contacting the Company through its website at www.diamond-hill.com.**

**Participants in the Solicitation**

The Company, its directors, executive officers and other persons related to the Company may be deemed to be participants in the solicitation of proxies from the Company's shareholders in connection with the Merger. Information about the directors and executive officers of the Company and their ownership of Company Common Shares is set forth in the section entitled "Executive Officer Stock Ownership and Retention Guidelines" in the Company's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on March 14, 2025 (and which is available at [https://www.sec.gov/ix?doc=/Archives/edgar/data/0000909108/000090910825000014/dhil-20250311.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000909108/000090910825000014/dhil-20250311.htm)). To the extent that holdings of the Company's securities by its directors or executive officers have changed since the amounts printed in the Company's proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 and Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Proxy Statement and other relevant materials to be filed with the SEC in connection with the Merger when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: January 28, 2026 | DIAMOND HILL INVESTMENT GROUP, INC. | DIAMOND HILL INVESTMENT GROUP, INC. |
|  | By: | /s/ Thomas E. Line |
|  |  | Thomas E. Line, Chief Financial Officer and Treasurer |

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## Exhibit 10.1

**EXHIBIT 10.1**

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| | |
|:---|:---|
| ![](image_002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 John H. McConnell Blvd<br> Suite 200<br> Columbus, Ohio 43215<br> 614.255.3333<br> diamond-hill.com |

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January 28, 2026

Dear Tom Line,

On December 10, 2025, Diamond Hill Investment Group, Inc. ("Diamond Hill") entered into a merger agreement with First Eagle Investment Management, LLC ("First Eagle"). The closing of the merger will not occur until required regulatory, shareholder, and other approvals are complete. Until the merger closes, which we expect to occur by the third quarter of 2026, Diamond Hill and First Eagle will continue to operate as two separate and independent companies.

**<u>Retention Bonus</u>**:

Diamond Hill is offering you a cash retention bonus in recognition of your valuable contributions and to encourage your continued focus and commitment to Diamond Hill as we work towards the successful closing of the merger and the ongoing operation of Diamond Hill's business. Details of the retention bonus are below.

**Total Retention Bonus** (earned in two equal installments)

The total amount of your retention bonus will be equal to **$500,000** and will be paid to you in two equal installments.

**50%** of your retention bonus will vest and become payable to you upon the closing of the merger and **50%** will vest and become payable to you on the six-month anniversary of the closing. You must be actively employed on each of the applicable vesting dates to receive your retention bonus installment, and each payment is contingent on satisfactory job performance, meeting expectations and compliance with company policies. Your retention bonus installment will be paid on or as soon as reasonably practicable following the applicable vesting date. This retention bonus is not part of your regular wages and will not be included for benefits or compensation calculations.

If your employment with Diamond Hill, First Eagle or any of their affiliates is terminated without "cause" (as defined in the Diamond Hill 2025 Equity and Cash Incentive Plan) or for "good reason"<sup>1</sup> prior to any vesting date, then the full amount of such retention bonus will be paid to you in a lump sum as soon as administratively practicable following your employment termination date, so long as you timely execute and do not revoke a release of claims in favor of Diamond Hill, First Eagle and their affiliates.

<sup>1</sup> For purposes of this retention bonus agreement, "Good Reason" means the occurrence without your written consent of the following event: a requirement that you relocate your principal place of employment to a location that is more than fifty (50) miles from the location of your principal place of employment immediately prior to such relocation.

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| | |
|:---|:---|
| ![](image_004.jpg) | diamond-hill.com |

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![](image_003.jpg)

We value the important role you play in our organization and appreciate your continued support throughout the merger and beyond. Your dedication and professionalism are instrumental in ensuring a smooth and successful transition.

Please note that nothing in this letter constitutes a guarantee of employment for any specific period of time. Your employment with Diamond Hill remains at will, meaning that either you or Diamond Hill may terminate the employment relationship at any time, with or without cause or notice, consistent with applicable law.

We recognize that periods of transition can bring uncertainty, and we sincerely appreciate your continued commitment and support as we move forward together into this next chapter.

**MISCELLANEOUS PROVISIONS** 

Any payments made or benefits provided to you under this letter agreement shall be paid to you net of all applicable withholdings or deductions required by applicable law.

It is intended that the provisions of this letter agreement comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") (together with the regulations and other interpretive guidance issued thereunder, "Section 409A"), and all provisions of this letter agreement will be construed and interpreted in a manner consistent with such intent. In no event shall Diamond Hill, First Eagle or any of their affiliates be liable for any additional tax, interest or penalty that may be imposed on you by Section 409A. For purposes of Section 409A, each right to a payment hereunder will be deemed a "separate payment" within the meaning of Treas. Reg. Section 1.409A-2(b)(iii). With respect to the timing of payments of any deferred compensation payable upon a termination of employment hereunder, references in this letter agreement to "termination of employment" (and substantially similar phrases) mean "separation from service" within the meaning of Section 409A.

Should you need any additional information, please contact Heather Brilliant via email at hbrilliant@diamond-hill.com or by phone at (614) 255-3355.

Sincerely,

**Diamond Hill Capital Management, Inc.**

![](image_001.jpg)

Jill Williams, CEBS, SPHR

Director – HR Operations, Compensation & Benefits

THE AFOREMENTIONED TERMS HAVE BEEN EXPLAINED TO ME AND THE OPPORTUNITY TO ASK QUESTIONS AND DISCUSS ANY PROVISIONS THAT I DID NOT UNDERSTAND HAS BEEN PROVIDED TO ME.

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| | |
|:---|:---|
| /s/ Tom Line | January 28, 2026 |
| Employee Signature | Date |

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|:---|:---|
| ![](image_004.jpg) | diamond-hill.com |

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