Form 4: Financial Institutions Inc. Executive Kevin B. Quinn Reports Stock Transactions
SEC Form 4 Filing
Senior Vice President Kevin B. Quinn of Financial Institutions Inc. reports acquisition and disposal of common stock and restricted stock units on March 19, 2024.
Summary
- On March 19, 2024, Kevin B. Quinn, a Senior Vice President at Financial Institutions Inc. (FISI), reported transactions involving the company's stock.
- These transactions included the acquisition of 3,653 shares of common stock through the conversion of restricted stock units.
- Quinn also disposed of 1,308 shares to cover tax obligations at a price of $18.29 per share.
- Following these transactions, Quinn directly owns 3,305 shares of FISI common stock.
- Additionally, Quinn holds 2,177 restricted stock units, each representing a contingent right to receive one share of FISI common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent a small portion of the overall shares outstanding.
- However, transparency in insider transactions is important for maintaining investor confidence.
Key Dates
| Date | Description |
|---|---|
| 03/19/2024 | Date of earliest transaction: Acquisition and disposal of common stock and restricted stock units. |
| 03/21/2024 | Date of signature by power of attorney. |
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