Form 4: CB Financial Officer Reports Routine Stock Disposition

CB Financial Services' Chief Credit Officer, Stephen Cobain, reported the sale of 39 common stock shares for tax purposes and detailed his remaining beneficial ownership and stock options.

Summary

• Stephen Cobain, Chief Credit Officer of CB Financial Services, Inc. (CBFV), filed a Form 4 reporting an insider transaction.
• On December 26, 2025, Mr. Cobain disposed of 39 shares of common stock at a price of $35.25 per share. This transaction, coded "F", indicates shares were withheld for tax liability related to the vesting or exercise of securities.
• Following this disposition, Mr. Cobain beneficially owns 3,078 shares of common stock.
• His holdings also include 4,480 stock options with an exercise price of $22.12, which become exercisable from February 16, 2025, and expire on February 16, 2034. These options vest at a rate of 20% per year commencing February 16, 2025.
• Additionally, he holds 5,000 stock options with an exercise price of $22.48, which became exercisable from November 30, 2023, and expire on November 30, 2032. These options vest at a rate of 20% per year commencing November 30, 2023.
• His beneficially owned common stock includes restricted stock which vests at a rate of 20% per year commencing on November 30, 2023, February 16, 2025, and February 16, 2026.

Sentiment

Score: 5

Explanation: A routine insider transaction filing with no significant positive or negative implications for the company's operational or financial performance.

Positives

• Ongoing equity incentive programs for management, including restricted stock and stock options, align management interests with shareholders.

Negatives

• Chief Credit Officer Stephen Cobain disposed of 39 shares of common stock, likely for tax withholding purposes related to equity vesting. While a disposition, it is a routine administrative transaction rather than a discretionary sale.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Stephen Cobain, Chief Credit Officer, disposed of 39 shares of company common stock, likely for tax withholding purposes related to equity compensation. This is a standard related-party transaction for executive compensation.

Stakeholder Impact

• Shareholders: Minor impact due to a small insider sale; provides transparency on executive holdings and compensation practices.

Key Dates

Recommendation

The filing is a routine insider transaction report for a minimal number of shares and does not provide sufficient information to alter an investment recommendation for CB Financial Services, Inc. The transaction is not indicative of significant changes in company fundamentals or outlook.

Keywords

CB Financial Services, CBFV, Stephen Cobain, Insider Transaction, Form 4, Stock Sale, Stock Options, Restricted Stock, Chief Credit Officer