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

Daniel D Fariello, President of Capital Bank Div., sold 748 shares of Chemung Financial Corp. common stock under a pre-arranged plan.

Summary

• Daniel D Fariello, President of Capital Bank Div. at Chemung Financial Corp. (CHMG), reported a sale of common stock.
• The transaction involved the disposition of 748 shares of common stock at a price of $61.13 per share.
• The sale occurred on February 4, 2026, and was executed pursuant to a Rule 10b5-1(c) trading plan.
• Following the transaction, Mr. Fariello directly owns 7,110 shares and indirectly owns 1,842.645 shares through a Qualified Plan, which includes shares from a Dividend Reinvestment Plan.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a slightly negative signal due to an insider sale, though the Rule 10b5-1 plan mitigates immediate concerns about a sudden loss of confidence.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged trading schedule rather than an immediate reaction to new information.

Negatives

• An officer, Daniel D Fariello, disposed of 748 shares of common stock.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales, even when conducted under pre-arranged Rule 10b5-1 plans, are closely monitored by the market for potential signals regarding management's perspective on future company performance. In the financial services sector, such transactions are a common aspect of executive compensation and personal financial management.

Comparison to Industry Standards

• This filing reports an insider transaction, which does not directly compare to industry financial performance benchmarks. However, the practice of executives selling shares, often through 10b5-1 plans, is a standard occurrence across publicly traded companies in various industries.

Related Party Transactions

• Daniel D Fariello, an officer of Chemung Financial Corp., sold 748 shares of common stock at $61.13 per share.

Stakeholder Impact

• Shareholders may interpret the insider sale as a slightly negative signal, though the pre-arranged 10b5-1 plan suggests it is part of routine financial planning rather than a reaction to new adverse information.

Key Dates

Recommendation

The sale by an officer, while potentially perceived negatively, was conducted under a Rule 10b5-1 plan, indicating it was pre-scheduled and not necessarily a reaction to new negative information. Without additional company-specific news or broader market context, this single transaction does not warrant a change from a 'hold' position.

Keywords

Chemung Financial Corp, CHMG, Insider Trading, Form 4, Stock Sale, Daniel D Fariello, Officer Transaction, Capital Bank Div., 10b5-1 Plan