Form 4: Chemung Financial Officer Reports Routine Stock Dispositions
Insider Transaction Report
Jeffrey P. Kenefick, Regional President of Chemung Financial Corp, reported the disposition of shares to cover tax withholding obligations.
Summary
- Jeffrey P. Kenefick, Regional President of Chemung Financial Corp (CHMG), filed a Form 4 detailing recent stock transactions.
- On December 15, 2025, Kenefick disposed of 106 shares of common stock at a price of $59.3 per share.
- On December 16, 2025, an additional 51 shares of common stock were disposed of at a price of $59.587 per share.
- These dispositions, indicated by transaction code 'F', were made to satisfy tax withholding obligations related to equity compensation.
- Following these transactions, Kenefick directly holds 10,390.39 shares and indirectly holds 2,987.555 shares through a Qualified Plan.
- The reported share amounts include dividends issued periodically under the Issuer's Dividend Reinvestment Plan.
Sentiment
Score: 5
Explanation: The filing is neutral as it reports routine, non-discretionary insider transactions for tax withholding purposes, which do not indicate a change in management's outlook or company performance.
Positives
- The transactions are routine dispositions for tax withholding (Code F), which are non-discretionary and typically do not signal a change in management's confidence in the company.
- Jeffrey P. Kenefick maintains a substantial beneficial ownership in Chemung Financial Corp, totaling 13,377.945 shares (direct and indirect) after these transactions.
Negatives
- A reduction in direct beneficial ownership of 157 shares due to tax withholding.
Future Outlook
NA
Industry Context
This Form 4 filing reports routine insider transactions for tax purposes, which is a common occurrence across all industries, including the financial sector. It does not provide specific insights into broader industry trends or competitive positioning for Chemung Financial Corp.
Stakeholder Impact
- Minimal direct impact on shareholders as the transactions are routine tax-related dispositions by an officer and do not signal a change in company fundamentals or strategy.
Key Dates
| Date | Description |
|---|---|
| July 16, 2025 | Date of Power of Attorney granted for filing purposes. |
| December 15, 2025 | Transaction date for the disposition of 106 shares of common stock. |
| December 16, 2025 | Transaction date for the disposition of 51 shares of common stock. |
| December 17, 2025 | Signature date of the reporting person for the Form 4 filing. |
Keywords
Chemung Financial Corp, CHMG, Form 4, Insider Trading, Stock Disposition, Tax Withholding, Jeffrey P. Kenefick, Officer Transaction, Regional President
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