Form 4: Tompkins Financial Corp Executive David M. DeMilia Reports Stock Transactions
SEC Form 4 Filing
David M. DeMilia, an executive at Tompkins Financial Corp, reported the acquisition and disposal of company stock and stock appreciation rights on November 14, 2024.
Summary
- David M. DeMilia, an EVP and President of TCB Hudson Valley at Tompkins Financial Corp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On November 14, 2024, DeMilia acquired 527 shares of common stock at $49.22 per share and 348 shares at $56.29 per share.
- He also disposed of 433 shares at $74.67 per share and 303 shares at $74.67 per share to cover option costs and taxes.
- Additionally, DeMilia acquired 527 stock appreciation rights (SARs) with an exercise price of $49.22 and 348 SARs with an exercise price of $56.29.
- These SARs vest over seven years and will be settled in common stock upon exercise.
- Following these transactions, DeMilia directly owns 5,888.867 shares of common stock and indirectly owns 154.9776 shares through a 401(k) and 1,908.8044 shares through an ESOP.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry and is required by the SEC.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
- The vesting schedule of the SARs, with a seven-year vesting period, is a common practice in executive compensation plans.
- The use of stock appreciation rights is a typical method for aligning executive interests with shareholder value.
Stakeholder Impact
- The transactions may be of interest to shareholders as they provide insight into executive stock ownership.
- The transactions do not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 11/14/2024 | Date of the stock and SAR transactions. |
| 11/15/2024 | Date the Form 4 was signed. |
| 11/21/2024 | Expiration date of some of the SARs. |
| 11/04/2025 | Expiration date of some of the SARs. |
Keywords
Tompkins Financial Corp, stock transactions, Form 4, stock appreciation rights, SARs, executive, insider trading, equity plan, common stock
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