Form 4: Tompkins Financial Corp Executive Matthew Tomazin Reports Stock Transactions

Executive Vice President, CFO & Treasurer of Tompkins Financial Corp, Matthew Tomazin, reports acquisition and disposition of company stock related to vesting of restricted stock.

Summary

• Matthew Tomazin, EVP, CFO & Treasurer of Tompkins Financial Corp, reported transactions involving the company's common stock.
• On November 12, 2024, Tomazin acquired 1,205 shares of common stock at a price of $74.62 per share.
• Also on November 12, 2024, 19 shares were disposed of at $74.62 per share to cover taxes related to the vesting of restricted stock.
• Following these transactions, Tomazin directly owns 3,539.108 shares and indirectly owns 682.1576 shares through a 401(k) and 237.8223 shares through an ESOP.

Sentiment

Score: 7

Explanation: The document reflects routine insider transactions related to stock vesting, which is neither particularly positive nor negative. It is a normal part of executive compensation and reporting.

Positives

• The acquisition of 1,205 shares indicates continued investment in the company by a key executive.

Negatives

• The disposition of 19 shares, while for tax purposes, slightly reduces the executive's direct holdings.

Risks

• There are no specific risks mentioned in this document.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting transactions in their company's stock. It is a routine part of corporate governance and transparency.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The vesting schedule of the restricted stock, with 0% in year one and 25% in years two through five, is a common structure for equity compensation plans.
• The tax-related disposition of shares upon vesting is also a typical occurrence in such plans.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation.

Key Dates

Keywords

Tompkins Financial Corp, Matthew Tomazin, stock transaction, restricted stock, insider trading, equity incentive plan, Form 4