Form 4: Tompkins Financial Corp Director Alexander John E. Reports Change in Beneficial Ownership
SEC Form 4 Filing
Director John E. Alexander reports the expiration of his term and changes in beneficial ownership of Tompkins Financial Corp stock, including common stock and phantom stock.
Summary
- John E. Alexander, a director of Tompkins Financial Corporation, filed a Form 4 on May 14, 2024, reporting changes in his beneficial ownership of the company's securities.
- Alexander's term as a director expired on May 14, 2024, and he is no longer considered a Section 16 insider.
- The report details his direct ownership of 55,403.3008 shares of common stock and indirect ownership of 676.549 shares held by his spouse.
- He also holds 24,433.549 shares of phantom stock, which represents deferred stock compensation under the Amended and Restated Retainer Plan for Eligible Directors.
- These phantom stock shares are held in a rabbi trust and will be distributed upon the occurrence of certain events specified in the Plan, with Alexander having no voting or investment power over them prior to distribution.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence in the financial industry.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | John E. Alexander | N/A | 05/14/2024 | Term expiration |
Stakeholder Impact
- The expiration of a director's term could lead to changes in the board's composition and potentially influence the company's strategic direction.
Key Dates
| Date | Description |
|---|---|
| 05/14/2024 | Date of earliest transaction and expiration of Mr. Alexander's term as a director. |
| 05/14/2024 | Date of report filing. |
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