Form 4: Tompkins Financial Corp Director Patricia A. Johnson Reports Stock Ownership Change

Director Patricia A. Johnson of Tompkins Financial Corp reports a change in beneficial ownership of common stock and phantom stock due to a distribution under the Director's Deferred Stock Retainer Agreement.

Summary

• Patricia A. Johnson, a director at Tompkins Financial Corp, filed a Form 4 indicating a change in her beneficial ownership of the company's stock.
• The transaction occurred on January 15, 2025, and involved both common stock and phantom stock.
• 710.531 shares of common stock were transferred from indirect to direct ownership as part of a distribution under the Director's Deferred Stock Retainer Agreement.
• This distribution also involved 710.531 shares of phantom stock, which are economically equivalent to common stock but held in a rabbi trust until certain events occur.
• Following the transaction, Ms. Johnson directly owns 5,218.444 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard transaction, and does not indicate any positive or negative sentiment.

Industry Context

This filing is a routine disclosure of a change in beneficial ownership by a company director, which is a common occurrence in publicly traded companies. It does not indicate any unusual activity or significant change in the company's financial position.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, as required by the Securities and Exchange Commission (SEC).
• The reporting of changes in beneficial ownership by directors is a common occurrence across all publicly traded companies.
• The use of deferred stock retainer agreements and rabbi trusts for director compensation is also a common practice in the financial industry.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine transfer of shares related to director compensation.

Key Dates

Keywords

Tompkins Financial Corp, Patricia A. Johnson, Form 4, Beneficial Ownership, Common Stock, Phantom Stock, Director's Deferred Stock Retainer Agreement, Stock Distribution, Rabbi Trust