Form 4: Tompkins Financial Corp Director Jennifer R. Tegan Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Jennifer R. Tegan reports acquisition of phantom stock in Tompkins Financial Corp on April 2, 2024.
Summary
- On April 2, 2024, Jennifer R. Tegan, a director of Tompkins Financial Corp, acquired phantom stock representing deferred stock compensation.
- The transactions involved the acquisition of 196.78 and 176.369 shares of phantom stock at a price of $47.7692 per share.
- Following these transactions, Tegan directly owns 6,234.869 and 6,411.238 shares of phantom stock.
- The phantom stock is held in a rabbi trust and represents deferred stock compensation under the Amended and Restated Retainer Plan for Eligible Directors.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, neither inherently positive nor negative.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The acquisition of phantom stock by a director could be viewed positively by shareholders as it aligns the director's interests with the long-term performance of the company.
Key Dates
| Date | Description |
|---|---|
| 04/02/2024 | Date of phantom stock acquisition. |
| 04/03/2024 | Date of report filing. |
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