Form 4: Chemung Financial Corp Executive Daniel D. Fariello Reports Stock Transaction

Daniel D. Fariello, President of Capital Bank Division at Chemung Financial Corp, reported a disposition of 119 shares of common stock at $54.16 per share.

Summary

• Daniel D. Fariello, President of the Capital Bank Division at Chemung Financial Corp, has reported a transaction involving the company's common stock.
• On December 13, 2024, Mr. Fariello disposed of 119 shares of common stock at a price of $54.16 per share.
• Following this transaction, Mr. Fariello directly owns 7,450 shares of common stock.
• Additionally, Mr. Fariello indirectly owns 1,729.646 shares through a qualified plan, which includes dividends issued periodically under the Issuer's Dividend Reinvestment Plan.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, reflecting a routine transaction. There is no indication of positive or negative sentiment.

Industry Context

This is a routine filing related to insider trading activity and is common for publicly traded companies. It provides transparency into the transactions of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The transaction is relatively small in volume, suggesting it is not a major event compared to large institutional trades or significant insider sales.
• Similar filings are made by executives at other financial institutions such as M&T Bank (MTB) and KeyCorp (KEY), which are also regional banks.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors due to the small volume of shares involved.

Key Dates

Keywords

Chemung Financial Corp, CHMG, stock transaction, insider trading, Form 4, Daniel D. Fariello, Capital Bank Division, share disposition, dividend reinvestment plan