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

Alyssa H. Fontaine, EVP, General Counsel & CRO of Tompkins Financial Corp, disposed of shares to cover taxes upon vesting of restricted stock.

Summary

• Alyssa H. Fontaine, an executive at Tompkins Financial Corp, sold a total of 472 shares of common stock on November 9, 2024.
• The sales were executed to cover tax obligations arising from the vesting of restricted stock.
• The shares were sold at a price of $73.7 per share.
• Following these transactions, Ms. Fontaine directly owns 8,144.228 shares and indirectly owns 806.9296 shares through a 401K/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 transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover taxes are a common practice across the financial industry.
• Many companies use restricted stock units as part of their compensation packages, leading to similar tax-related sales by executives.
• The sale of 472 shares is not unusual for an executive at a company of Tompkins Financial Corp's size.

Stakeholder Impact

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

Key Dates

Keywords

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