Form 4: Chemung Financial EVP Sells Shares for Tax Liability

Chemung Financial Executive Vice President Thomas W. Wirth disposed of 1,396 shares of common stock at $52.75 per share for tax liability.

Summary

• Thomas W. Wirth, Executive Vice President of Chemung Financial Corp (CHMG), reported a disposition of common stock.
• The transaction involved 1,396 shares of common stock.
• The shares were disposed of at a price of $52.75 per share.
• The transaction occurred on October 1, 2025, and was coded as 'F', indicating payment of tax liability by delivering or withholding securities.
• Following this transaction, Mr. Wirth directly owns 3,259 shares and indirectly owns 19,387.603 shares through a Qualified Plan.
• The indirect ownership includes dividends issued periodically under the Issuer's Dividend Reinvestment Plan.
• The transaction was made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 5

Explanation: The transaction is a routine, pre-planned disposition of shares for tax purposes by an executive, which is generally neutral in sentiment. It does not indicate a change in company fundamentals or a lack of confidence.

Positives

• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned disposition and not a reaction to recent company performance.

Negatives

• An insider disposition of shares, even for tax purposes, reduces the executive's direct equity stake in the company.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction and does not provide broader industry context or trends.

Stakeholder Impact

• The disposition of a relatively small number of shares by an executive for tax purposes is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

Chemung Financial, CHMG, Insider Trading, Form 4, Stock Sale, Executive Compensation, Rule 10b5-1, Thomas W. Wirth