Form 4: Tompkins Financial Corp Director Acquires Phantom Stock

Daniel J. Fessenden, a director of Tompkins Financial Corp, acquired phantom stock representing deferred stock compensation.

Summary

• On October 2, 2024, Daniel J. Fessenden, a director of Tompkins Financial Corp, acquired 304.89 shares of phantom stock at a price of $59.1853 per share.
• Following the transaction, Fessenden directly owns 9,221.502 shares of common stock.
• The phantom stock represents deferred stock compensation under the Amended and Restated Retainer Plan for Eligible Directors of Tompkins Financial Corporation and its Wholly-Owned Subsidiaries.
• These shares are held in a rabbi trust pending distribution upon the occurrence of certain events specified in the Plan.
• The reporting person has no voting or investment power over the shares prior to such distribution.

Sentiment

Score: 6

Explanation: The document indicates a routine transaction of phantom stock acquisition by a director, suggesting a neutral sentiment. It reflects standard compensation practices and doesn't inherently imply positive or negative implications for the company's performance.

Positives

• The acquisition of phantom stock by a director signals confidence in the company's future performance.

Industry Context

Directors receiving stock compensation is a common practice in the financial industry to align their interests with those of shareholders.

Stakeholder Impact

• The transaction aligns the director's interests with those of the shareholders.

Key Dates