Form 4: Tompkins Financial Corp Executive Disposes of Shares to Cover Taxes

David Kershaw, SVP and PAO of Tompkins Financial Corp, disposed of shares to cover taxes upon vesting of restricted stock.

Summary

• David Kershaw, a Senior Vice President and Principal Accounting Officer at Tompkins Financial Corp, disposed of a total of 129 shares of common stock on November 9, 2024.
• The shares were disposed of at a price of $73.7 per share.
• These transactions were made to cover tax obligations arising from the vesting of restricted stock.
• Following these transactions, Mr. Kershaw directly owns 3,791.559 shares of common stock.
• He also indirectly owns 1,276.6359 shares through a 401(k) and 2,527.3923 shares through an ESOP.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to executive stock transactions and is common in the financial industry. It reflects the standard practice of executives managing their equity compensation and tax liabilities.

Comparison to Industry Standards

• Similar transactions are common among executives in publicly traded companies, particularly in the financial sector.
• The disposal of shares to cover tax obligations upon vesting of restricted stock is a standard practice.
• Other financial institutions such as M&T Bank and KeyCorp also see similar filings from their executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares by an executive to cover tax obligations.

Key Dates

Keywords

Tompkins Financial Corp, David Kershaw, stock disposal, SEC Form 4, insider trading, restricted stock, tax obligations, executive compensation