Form 4: Auburn National Bancorporation Director Sandra J. Spencer Reports Changes in Beneficial Ownership Following Mother's Death

Sandra J. Spencer, a director of Auburn National Bancorporation, filed a Form 4 detailing changes in her beneficial ownership of the company's stock following the death of her mother, Ruth Spencer, on April 29, 2024.

Summary

• Sandra J. Spencer, a director of Auburn National Bancorporation, filed a Form 4 with the SEC.
• The filing reports changes in her beneficial ownership of Auburn National Bancorporation stock due to the death of her mother, Ruth Spencer, on April 29, 2024.
• The power of attorney Sandra J. Spencer held from Ruth Spencer terminated upon Ruth's death.
• Sandra J. Spencer is the Personal Representative of the Ruth Spencer Estate and Trustee of the Spencer 2008 Revocable Trust.
• The filing covers 666,825 shares held as sole Personal Representative of Edward L. Spencer, Jr's estate, 47,882 shares held as sole Trustee of the Spencer 2008 Irrevocable Trust, 17,000 shares previously held under power of attorney from Ruth Spencer, 75.33 shares held by her spouse, 10,271.89 shares held directly, and 3,960 shares held by Spencer LLC.
• Sandra J. Spencer disclaims beneficial ownership of 11,333 shares formerly held under the power of attorney from Ruth Spencer, which will be distributed to trusts for the benefit of her two brothers.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in stock ownership due to an event (death). It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the stock ownership of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• The changes in beneficial ownership do not appear to have an immediate operational impact on the company.

Key Dates