Form 4: Tompkins Financial Corp Director Acquires Phantom Stock

Director Janet M. Coletti acquired 180.303 shares of phantom stock in Tompkins Financial Corp on July 2, 2024, at a price of $48.5293 per share.

Summary

• On July 2, 2024, Janet M. Coletti, a director of Tompkins Financial Corp, acquired 180.303 shares of phantom stock.
• The transaction occurred at a price of $48.5293 per share.
• Following the transaction, Coletti beneficially owns 180.303 shares of phantom stock directly.
• The phantom stock represents deferred stock compensation under the Amended and Restated Retainer Plan for Eligible Directors.
• These shares are held in a rabbi trust and will be distributed upon the occurrence of certain events specified in the Plan.
• Coletti has no voting or investment power over the shares prior to distribution.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan may help retain key personnel.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and are common across publicly traded companies.

Stakeholder Impact

• The acquisition of phantom stock by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates