Form 4: CFO McKim Sells CHMG Shares for Tax Obligations

Chemung Financial Corp's EVP, CFO & Treasurer, Dale M. McKim III, disposed of 147 shares of common stock to cover tax liabilities.

Summary

• Dale M. McKim III, EVP, CFO & Treasurer of Chemung Financial Corp, reported a transaction on February 27, 2026.
• McKim disposed of 147 shares of common stock at a price of $55.52 per share.
• This transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged sale.
• Following this transaction, McKim directly beneficially owns 6,933 shares of Chemung Financial Corp common stock.
• The disposition was coded 'F', typically indicating shares withheld for tax purposes related to the vesting or exercise of securities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine insider sale for tax purposes under a pre-arranged plan, which typically does not reflect a change in sentiment regarding the company's prospects.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to tax obligations or pre-arranged plans like Rule 10b5-1, are common and generally do not signal a change in management's outlook on the company's fundamentals. Such sales are often part of routine compensation and tax planning for executives.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine tax-related sale by an executive, not indicative of a change in company fundamentals or a large divestment.

Key Dates

Recommendation

This Form 4 filing reports a routine insider transaction for tax purposes under a Rule 10b5-1 plan. Such transactions are generally not indicative of a change in the company's fundamental performance or future outlook. Therefore, it does not provide new information that would warrant a change in investment recommendation.

Keywords

Chemung Financial Corp, CHMG, Form 4, Insider Transaction, Stock Sale, CFO, Tax Withholding, Rule 10b5-1