Form 4: Sandra J. Spencer Reports Beneficial Ownership Changes in Auburn National Bancorporation, Inc.

Sandra J. Spencer files a Form 4 to report changes in beneficial ownership of Auburn National Bancorporation, Inc. stock following her election as a director.

Summary

• Sandra J. Spencer filed a Form 4 with the SEC on March 29, 2024, regarding her beneficial ownership of Auburn National Bancorporation, Inc. (AUBN) stock.
• The filing indicates that Spencer was elected as a director of the Issuer on March 29, 2024.
• Spencer's reported beneficial ownership includes shares held directly and indirectly through various entities, including the Estate of Edward L. Spencer, Jr., the Spencer 2008 Irrevocable Trust, a Power of Attorney from Ruth Spencer, and Spencer LLC.
• The filing covers 10,271.89 shares held directly, 666,825 shares held as sole Personal Representative of the Estate of Edward L. Spencer, Jr., 47,882 shares held as sole Trustee of the Spencer 2008 Irrevocable Trust, 17,000 shares held pursuant to a Power of Attorney from Ruth Spencer, 75.33 shares held by the Reporting Person's Spouse and 3,960 shares held by Spencer LLC.
• The filing clarifies that it should not be deemed an admission that Spencer is the beneficial owner of all shares covered by the statement for purposes of Section 16 of the Act.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for corporate insiders (directors, officers, and principal stockholders) to report changes in their beneficial ownership of company stock, ensuring transparency and compliance with SEC regulations.

Management Changes

Stakeholder Impact

• Shareholders are informed about changes in insider ownership, which can influence investor confidence.
• The election of a new director may impact the strategic direction of the company.

Key Dates