4/A: Financial Institutions Inc. Corrects Restricted Stock Unit Grant for Chief Legal Officer

An amended SEC filing reveals a correction to the number of restricted stock units granted to Financial Institutions Inc.'s Chief Legal Officer, Samuel J. Burruano, Jr., due to an administrative error.

Summary

• This is an amended SEC Form 4 filing by Samuel J. Burruano, Jr., Chief Legal Officer of Financial Institutions Inc. (FISI).
• The amendment, filed on March 21, 2025, corrects the number of restricted stock units (RSUs) granted to Burruano.
• The original calculation was incorrect due to an administrative error.
• The corrected filing shows that Burruano was granted 6,347 restricted stock units, each representing a contingent right to receive one share of FISI common stock.
• The RSUs vest on February 25, 2028.

Sentiment

Score: 7

Explanation: The document is a routine correction of an administrative error. While the error itself isn't positive, the prompt correction is reassuring.

Negatives

• The initial miscalculation of restricted stock units indicates a potential lapse in administrative oversight.

Industry Context

This type of filing is standard for publicly traded companies to disclose changes in beneficial ownership by officers and directors. The correction highlights the importance of accurate record-keeping in equity compensation.

Stakeholder Impact

• The correction ensures accurate reporting of executive compensation, which is important for shareholder transparency.

Key Dates

Keywords

restricted stock units, FISI, Financial Institutions Inc., SEC Form 4, amendment, Samuel J. Burruano Jr., Chief Legal Officer, stock options, equity compensation