Form 4: ChoiceOne Director Gifts Shares to Grandchild
Insider Transaction Report
Steven T. Krause, a Director and 10% Owner of ChoiceOne Financial Services Inc., reported gifting 660 shares of common stock valued at $30.38 per share to a grandchild.
Summary
- Steven T. Krause, a Director and 10% Owner of ChoiceOne Financial Services Inc. (COFS), reported a gift transaction.
- On August 13, 2025, Krause gifted 660 shares of COFS common stock.
- The shares were valued at $30.38 per share at the time of the gift.
- Following the transaction, Krause's direct beneficial ownership is 32,815.1533 shares.
- Indirect beneficial ownership includes 15,067.7408 shares held by a trust and 15,642 shares held by grandchildren (comprising 5,491, 5,492, 3,499, and the recently gifted 660 shares).
- The total beneficial ownership after the gift is 63,024.8941 shares.
Sentiment
Score: 5
Explanation: A gift transaction is generally neutral for the company's operational performance or stock valuation. It reflects personal financial planning by an insider.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Delegation of Authority | Steven T. Krause granted a Limited Power of Attorney to Kelly J. Potes, Michael J. Burke Jr., Adom J. Greenland, Charlie Goode, Sarah A. Harper, Malaina W. Snyder, and Christian D. Rhoades to execute and file SEC forms on his behalf, including Forms 3, 4, 5, 144, 13D, and 13G. | 2025-06-26 | Enhances compliance efficiency for insider reporting requirements for Steven T. Krause. |
Related Party Transactions
- Steven T. Krause gifted 660 shares of common stock to a grandchild, which is a related party transaction.
Stakeholder Impact
- Shareholders: Minimal direct impact as it is a personal transaction by an insider, not a sale into the open market. It slightly reduces the director's direct ownership but maintains overall beneficial interest within the family.
Key Dates
| Date | Description |
|---|---|
| 2025-06-26 | Date of Limited Power of Attorney granted by Steven T. Krause. |
| 2025-08-13 | Date of common stock gift transaction by Steven T. Krause. |
| 2025-08-14 | Date Form 4 was signed by Power of Attorney. |
Keywords
ChoiceOne Financial Services, COFS, Steven T. Krause, Insider Transaction, Form 4, Beneficial Ownership, Stock Gift, Director, 10% Owner
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