Form 4: Pathfinder Bancorp CFO Justin K. Bigham Receives 24,000 Shares of Restricted Stock

Senior Vice President and CFO of Pathfinder Bancorp, Justin K. Bigham, acquired 24,000 shares of restricted common stock on January 31, 2025, which vest at a rate of 25% per year starting January 31, 2026.

Summary

• On January 31, 2025, Justin K. Bigham, Senior Vice President and CFO of Pathfinder Bancorp, Inc., acquired 24,000 shares of common stock.
• The shares were acquired directly.
• The acquisition was a grant of restricted stock.
• The restricted stock vests at a rate of 25% per year, commencing on January 31, 2026.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard executive compensation practice, indicating stability and alignment of interests.

Positives

• The acquisition of restricted stock aligns the CFO's interests with those of the shareholders.

Future Outlook

The vesting schedule of the restricted stock suggests a commitment from the CFO to remain with the company for at least four years.

Industry Context

Stock grants are a common form of executive compensation in the banking industry, used to incentivize performance and retain key personnel.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in the financial services industry.
• Companies like JPMorgan Chase & Co. and Bank of America often use similar equity-based compensation to align executive interests with shareholder value.

Stakeholder Impact

• The stock grant aligns the CFO's interests with those of the shareholders, potentially leading to better performance and increased shareholder value.

Key Dates