Form 4: Chemung Financial Officer Sells Shares Under 10b5-1 Plan

Sentiment:

Insider Transaction Report 22 December 2025 12:41 PM

Chemung Financial's President of Capital Bank Division, Daniel D. Fariello, reported the disposition of common stock shares on December 19, 2025, under a Rule 10b5-1 plan.

Summary

Daniel D. Fariello, President of the Capital Bank Division at CHEMUNG FINANCIAL CORP (CHMG), reported transactions involving common stock.
On December 19, 2025, Fariello disposed of a total of 215 shares (102 + 113) of common stock at a price of $57.81 per share.
These dispositions were made pursuant to a Rule 10b5-1 plan, which allows insiders to set up pre-planned transactions.
Following these transactions, Fariello directly beneficially owns 8,213 shares and 8,100 shares, and indirectly owns 1,825.488 shares through a Qualified Plan, which includes dividends from the Issuer's Dividend Reinvestment Plan.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-planned disposition of shares by an insider, likely for tax withholding purposes, under a Rule 10b5-1 plan, which is generally considered neutral.

Positives

The transactions were conducted under a Rule 10b5-1 plan, indicating pre-planned sales and reducing concerns about opportunistic insider selling.

Negatives

The disposition of 215 shares by an officer slightly reduces insider ownership in the company.

Future Outlook

Industry Context

This is a company-specific insider transaction report and does not provide broader industry context or trends.

Stakeholder Impact

Shareholders: A minor reduction in insider ownership, but generally viewed as a routine, pre-planned transaction with minimal impact.

Key Dates

Date	Description
2025-07-16	Date of Power of Attorney for Kathleen E. Cook.
2025-12-19	Date of common stock disposition transactions.
2025-12-22	Signature date of the reporting person's attorney-in-fact.

Recommendation

hold

The Form 4 details a routine, pre-planned disposition of shares by an officer, likely for tax purposes, under a Rule 10b5-1 plan. This type of transaction is generally not considered a significant indicator for a change in investment thesis and does not provide sufficient new information to alter a 'hold' recommendation based solely on this filing.

Keywords

CHEMUNG FINANCIAL CORP, CHMG, Form 4, insider transaction, beneficial ownership, stock disposition, Daniel D. Fariello, Rule 10b5-1

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