Form 4: Pathfinder Bancorp SVP Daniel R. Phillips Reports Beneficial Ownership Changes

Senior Vice President of Pathfinder Bancorp, Daniel R. Phillips, files a Form 4 detailing changes in his beneficial ownership of company stock, including ESOP allocations and holdings through 401(k) and spousal accounts.

Summary

• Daniel R. Phillips, a Senior Vice President at Pathfinder Bancorp, filed a Form 4 with the SEC on March 19, 2024, reporting changes in his beneficial ownership of the company's stock.
• The report indicates direct ownership of 21,272 shares of common stock.
• Phillips also holds 13,408 shares indirectly through an ESOP, 6,021 shares through a 401(k), and 730 shares through a POA for his spouse.
• He also owns stock options for 7,237 shares with an exercise price of $10.81, exercisable from April 1, 2017, and expiring on April 1, 2026.
• Additionally, he holds stock options for 15,816 shares with an exercise price of $11.35, exercisable from May 6, 2017, and expiring on May 6, 2026.
• The filing reflects ESOP shares allocated in March 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.

Stakeholder Impact

• Shareholders can use this information to understand the ownership stake of a key executive.
• Employees participating in the ESOP and 401(k) plans are indirectly impacted by the value of the company's stock.

Key Dates