Form 4: Pathfinder Bancorp Executive Ronald Tascarella Reports Changes in Beneficial Ownership Following Retirement
SEC Form 4 Filing
Ronald Tascarella, a retired Executive Vice President of Pathfinder Bancorp, reports changes in his beneficial ownership of company stock following his retirement.
Summary
- Ronald Tascarella, a retired Executive Vice President of Pathfinder Bancorp, filed a Form 4 on March 3, 2025, reporting changes in his beneficial ownership of the company's stock.
- The report indicates that Tascarella directly owns 47,203 shares of Pathfinder Bancorp common stock.
- He also indirectly owns 9,690 shares through an ESOP, 20,292 shares through a 401K, and 5,000 shares through his spouse.
- Tascarella also holds options for 15,816 shares of common stock with an exercise price of $11.35, exercisable from May 6, 2017, and expiring on May 6, 2026.
- Ronald T. Tascarella retired as Executive Vice President and Chief Banking Officer from Pathfinder Bank on November 30, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and the sentiment is neutral. It simply reports changes in beneficial ownership following an executive's retirement.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing reflects changes due to retirement and does not necessarily indicate a change in the company's overall outlook.
Comparison to Industry Standards
- Form 4 filings are standard practice across publicly traded companies, including competitors of Pathfinder Bancorp.
- The reported holdings and transactions are typical for executives at similar financial institutions.
- Executive compensation packages often include stock options, aligning management's interests with those of shareholders.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Executive Vice President and Chief Banking Officer | Ronald T. Tascarella | 11/30/2024 | Retirement |
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings of a key executive.
- The retirement of Ronald Tascarella may impact employees and customers, depending on the transition plan and his replacement.
Key Dates
| Date | Description |
|---|---|
| 05/06/2017 | Date stock options became exercisable |
| 11/30/2024 | Ronald T. Tascarella retired as Executive Vice President and Chief Banking Officer from Pathfinder Bank |
| 03/03/2025 | Date of the reported transaction and filing of Form 4 |
| 05/06/2026 | Expiration date of stock options |
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