Form 4: Tompkins Financial Corp Executive Sells Shares to Cover Taxes After Stock Vesting

Stacie M. Mastin, SVP and Director of HR at Tompkins Financial Corp, disposed of shares to cover taxes upon the vesting of restricted stock.

Summary

• Stacie M. Mastin, a Senior Vice President and Director of HR at Tompkins Financial Corp, filed a Form 4 indicating a sale of company stock.
• The transactions occurred on November 9, 2024.
• A total of 55 shares were disposed of at a price of $73.7 per share.
• These sales were to cover tax obligations arising from the vesting of restricted stock.
• The reporting person still holds 1,009.464 shares directly, 917.9656 shares indirectly through an ESOP, and 0 shares indirectly through a spouse.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard practice of selling shares to cover tax liabilities upon vesting of restricted stock.

Comparison to Industry Standards

• Form 4 filings are a standard practice across all publicly traded companies in the US.
• The sale of shares to cover tax obligations upon vesting is a common practice for executives receiving stock-based compensation.
• The number of shares sold and the price are specific to this individual and company, and would need to be compared to other similar filings to determine if they are in line with industry norms.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Form 4, insider trading, stock sale, Tompkins Financial Corp, TMP, executive compensation, restricted stock, tax obligations