Form 4: Chemung Financial Executive Reports Routine Stock Dispositions

Daniel D. Fariello, President of Capital Bank Div., reported routine dispositions of Chemung Financial Corp. common stock for tax purposes.

Summary

• Daniel D. Fariello, President of Capital Bank Div. at Chemung Financial Corp. (CHMG), reported two transactions involving the disposition of common stock.
• On December 15, 2025, Fariello disposed of 119 shares of common stock at a price of $59.3 per share, leaving a direct beneficial ownership of 8,386 shares.
• On December 16, 2025, an additional 71 shares of common stock were disposed of at a price of $59.57 per share, reducing direct beneficial ownership to 8,315 shares.
• Both dispositions were marked with transaction code 'F', indicating shares withheld to cover tax obligations.
• Fariello also holds 1,825.488 shares indirectly through a Qualified Plan, which includes dividends issued periodically under the Issuer's Dividend Reinvestment Plan.

Sentiment

Score: 5

Explanation: The filing reports routine, tax-related stock dispositions by an insider, which are neutral in sentiment and do not indicate any significant positive or negative developments for the company.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

These routine insider transactions, specifically tax-related dispositions (Code F), are common across the financial services industry when restricted stock units or other equity awards vest. They typically do not reflect a change in management's outlook on the company's prospects but rather a standard mechanism for covering tax liabilities.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine, tax-related dispositions and not significant open market sales that would signal a change in insider confidence.

Key Dates

Keywords

Chemung Financial Corp, CHMG, Form 4, Insider Transaction, Stock Disposition, Daniel D. Fariello, Capital Bank Div, Tax Withholding