Form 4: Controller Sells CHMG Shares Under 10b5-1 Plan

Chemung Financial Corp's Controller, John J. Stempin, sold 20 shares of common stock for tax purposes under a pre-arranged 10b5-1 plan.

Summary

• John J. Stempin, Controller of Chemung Financial Corp (CHMG), reported changes in beneficial ownership.
• Stempin disposed of a total of 20 shares of common stock on December 19, 2025.
• The shares were disposed of at a price of $57.81 per share.
• These transactions were marked with transaction code 'F', typically indicating a disposition to satisfy tax withholding obligations upon the vesting of equity awards.
• Following these transactions, Stempin directly beneficially owns 360 shares of common stock.
• The transactions were conducted under a Rule 10b5-1 pre-arranged trading plan.

Sentiment

Score: 5

Explanation: Neutral. The filing reports routine insider transactions for tax purposes under a 10b5-1 plan, which is a common and generally non-eventful occurrence.

Positives

• Transactions were executed under a Rule 10b5-1 plan, indicating pre-planned sales and not necessarily a reaction to new, negative information.

Negatives

• Insider selling, even for tax purposes, reduces the insider's direct stake in the company.

Future Outlook

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

Industry Context

This Form 4 filing reflects routine insider stock transactions, specifically for tax withholding purposes, which are common in the financial services industry for executives receiving equity compensation. It does not indicate any specific industry trends or competitive shifts.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: Minor impact due to a small, routine insider sale for tax purposes. No significant change in ownership structure or company strategy is implied.

Key Dates

Recommendation

This Form 4 reports a routine insider sale for tax withholding purposes under a pre-arranged 10b5-1 plan. Such transactions are common and typically do not signal a change in the company's fundamentals or the insider's long-term view. Therefore, it provides no new information to warrant a change in investment recommendation.

Keywords

Chemung Financial Corp, CHMG, Insider Trading, Form 4, Stock Sale, Controller, 10b5-1 Plan, Equity Compensation, Financial Services