Form 4: Pathfinder Bancorp Senior Vice President Exercises Stock Options, Disposes of Shares

Daniel R. Phillips, a Senior Vice President at Pathfinder Bancorp, exercised stock options and disposed of shares on November 20, 2024.

Summary

• On November 20, 2024, Daniel R. Phillips, a Senior Vice President at Pathfinder Bancorp, exercised stock options to acquire 13,266 shares of common stock at a price of $11.35 per share.
• Following the exercise of options, Mr. Phillips disposed of 38,270 shares of common stock.
• After these transactions, Mr. Phillips directly owns 0 shares, but indirectly owns 13,408 shares through an ESOP, 6,021 shares through a 401K, and 730 shares through a POA for his spouse.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing insider transactions, which is neither positive nor negative in itself. It is a neutral event.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders who trade their company's stock. It provides transparency into the transactions of company officers.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The exercise of stock options and subsequent sale of shares is a common occurrence for executives, often part of their compensation packages.
• The reported transactions are consistent with typical insider trading activities and are not unusual for a company of Pathfinder Bancorp's size and structure.

Stakeholder Impact

• The transactions may have a minor impact on the stock price due to the sale of shares by a company officer, but this is likely to be minimal given the relatively small volume of shares involved.

Key Dates

Keywords

stock options, insider trading, Form 4, Pathfinder Bancorp, PBHC, equity securities, beneficial ownership