Form 4: Evans Bancorp Treasurer Exercises Stock Options, Adjusts Holdings
SEC Form 4 Filing
John B. Connerton, Treasurer of Evans Bancorp, executed stock options and disposed of shares to cover tax obligations, resulting in a net adjustment to his holdings.
Summary
- On March 17, 2025, John B. Connerton, Treasurer of Evans Bancorp Inc., exercised restricted stock units and performance stock units, converting them into common stock.
- The transactions involved the conversion of 277 restricted stock units and 498 performance stock units at a price of $39.01 per share.
- Following the exercise of these units, Connerton disposed of 83 shares on March 18, 2025, at $39.0492 per share and 179 shares on March 18, 2025, at $39.0492 per share.
- These disposals appear to be related to covering tax obligations associated with the vesting of the stock units.
- After these transactions, Connerton's directly held common stock holdings amounted to 19,645.88 shares.
Sentiment
Score: 5
Explanation: The document reflects routine transactions by a company insider. It is neither particularly positive nor negative.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the Treasurer's transactions in company stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine insider activity.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | Reporting person was granted 831 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date and performance stock units, the earned units represent 60% of the total units granted |
| 03/17/2025 | Date of earliest transaction; exercise of restricted stock units and performance stock units. |
| 03/18/2025 | Disposal of common stock to cover tax obligations. |
| 03/19/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Evans Bancorp, EVBN, Insider Trading, Stock Options, Restricted Stock Units, Performance Stock Units, Connerton, Treasurer, Beneficial Ownership
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