Form 4: Chemung Financial EVP Disposes Shares for Tax

Kimberly A. Hazelton, Executive Vice President of Chemung Financial Corp, reported a disposition of 104 common shares for tax purposes under a Rule 10b5-1 plan.

Summary

• Kimberly A. Hazelton, Executive Vice President of Chemung Financial Corp (CHMG), reported a disposition of 104 shares of common stock.
• The transaction occurred on February 27, 2026, at a price of $55.52 per share.
• This disposition was coded as "F," indicating it was for the payment of tax liability incident to the vesting of an equity award.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, a pre-arranged trading plan.
• Following this transaction, Ms. Hazelton beneficially owns 8,162 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine, pre-planned disposition for tax purposes and does not indicate a change in management's confidence or company fundamentals.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned and automated disposition, which reduces concerns about opportunistic insider trading.

Negatives

• No specific negatives identified as this is a routine tax-related disposition.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• No direct management comments or notable quotes are provided in this Form 4 filing, beyond the details of the transaction itself.

Industry Context

StockSavvy.ai notes that routine insider transactions, particularly those for tax withholding purposes under a 10b5-1 plan, are common across the financial services industry. Such transactions typically do not signal a change in management's outlook on the company's prospects but rather reflect standard compensation and tax planning practices.

Comparison to Industry Standards

• StockSavvy.ai observes that a disposition of 104 shares for tax purposes by an executive is a relatively small, routine transaction.
• Compared to larger insider sales or purchases seen in the industry, such as significant open market purchases by CEOs at companies like JPMorgan Chase or Bank of America, this transaction is not indicative of a major shift in insider sentiment or a significant capital event.
• It aligns with standard practices for managing equity compensation.

Management Changes

Corporate Governance

Legal Proceedings

• No legal or regulatory matters are disclosed in this Form 4 filing.

Related Party Transactions

• This filing reports an insider transaction, which is a form of related party dealing, specifically the disposition of common stock by an executive. No other related party transactions are detailed.

Stakeholder Impact

• The impact on stakeholders is minimal. For shareholders, this is a routine, small-scale insider transaction for tax purposes, unlikely to significantly affect share price or company strategy. Employees, customers, suppliers, and creditors are not directly impacted by this specific filing.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing.

Key Dates

Keywords

Chemung Financial Corp, CHMG, Form 4, Insider Transaction, Stock Disposition, Kimberly A. Hazelton, Executive Vice President, Rule 10b5-1, Tax Withholding