Form 4: Financial Institutions Inc. Executive Reid A. Whiting Reports Changes in Beneficial Ownership
SEC Filing
Reid A. Whiting, Chief Banking Officer of Financial Institutions Inc., reports acquisition of common stock through the company's 401(k) plan and ownership of restricted stock units.
Summary
- Reid A. Whiting, Chief Banking Officer of Financial Institutions Inc. (FISI), filed a Form 4 with the SEC.
- The report details changes in Mr. Whiting's beneficial ownership of FISI securities.
- Mr. Whiting acquired 7 shares of common stock through the FISI 401(k) plan.
- He also owns 2,496 restricted stock units, each representing a contingent right to receive one share of FISI common stock, exercisable on 03/07/2027.
- These restricted stock units are directly owned.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices through stock options and 401k plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date of earliest transaction reported. |
| 03/07/2027 | Date restricted stock units become exercisable and expire. |
| 03/11/2024 | Date of signature on the report. |
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