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

Sandra J. Spencer files a Form 4 to report changes in her beneficial ownership of Auburn National Bancorporation shares due to the death of her mother, Ruth Spencer, and her appointment as Personal Representative of the Ruth Spencer Estate.

Summary

• Sandra J. Spencer, a director and 10% owner of Auburn National Bancorporation, filed a Form 4 with the SEC.
• The filing reports changes in her beneficial ownership of the company's common stock following the death of her mother, Ruth Spencer, on April 29, 2024.
• Sandra J. Spencer was confirmed as the Personal Representative of the Ruth Spencer Estate on May 21, 2024.
• The filing covers shares held directly and indirectly through various entities, including the Edward L. Spencer, Jr Estate, the Spencer 2008 Irrevocable Trust, the Estate of Ruth Spencer, Spencer LLC, and shares held by her spouse.
• The reporting person disclaims beneficial ownership of 11,333 shares formerly held under 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 routine regulatory filing related to changes in beneficial ownership due to inheritance, with no inherent positive or negative implications for the company's financial health or prospects.

Industry Context

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

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider ownership.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates