Form 4: Financial Institutions Inc. CEO Birmingham Reports Stock Purchase and Holdings
SEC Form 4 Filing
Financial Institutions Inc.'s CEO, Martin K. Birmingham, reported a purchase of 4,000 shares of common stock and disclosed his total holdings, including shares held directly, in an IRA, and in a 401k plan.
Summary
- Martin K. Birmingham, the President and CEO of Financial Institutions Inc., filed a Form 4 disclosing a recent transaction.
- On December 13, 2024, Mr. Birmingham purchased 4,000 shares of common stock at a price of $25 per share.
- Following this transaction, Mr. Birmingham directly owns 126,732 shares of common stock.
- He also indirectly owns 7,500 shares through an IRA and 14,221 shares through a 401k plan, which includes 613 shares acquired since his last report.
- The filing also includes a Limited Power of Attorney, dated August 6, 2024, authorizing Michael D. Grover, Sandra L. Byers, and William Jack Plants II to file Section 16 reports on his behalf.
Sentiment
Score: 6
Explanation: The document is a routine disclosure of insider trading activity, which is neither particularly positive nor negative. The CEO's purchase could be seen as a positive sign, but it's not a major event.
Positives
- The CEO's purchase of shares could be seen as a positive signal of confidence in the company's future prospects.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies and their executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for corporate insiders in the US, and this filing is consistent with those requirements.
- The level of detail provided is typical for these types of disclosures, including the number of shares, transaction price, and ownership structure.
Stakeholder Impact
- The CEO's stock purchase may have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 08/06/2024 | Date of the Limited Power of Attorney granted by Martin K. Birmingham. |
| 12/13/2024 | Date of the stock purchase transaction by Martin K. Birmingham. |
| 12/16/2024 | Date of the signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Purchase, Financial Institutions Inc, FISI, Martin K. Birmingham, CEO, Section 16, Securities Exchange Act, IRA, 401k
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