Form 4: Tompkins Financial Corp Executive Susan M. Valenti Reports Changes in Beneficial Ownership

Susan M. Valenti, EVP of Corporate Marketing at Tompkins Financial Corp, reports transactions involving common stock and Stock Appreciation Rights (SARs) due to retirement.

Summary

• Susan M. Valenti, EVP of Corporate Marketing at Tompkins Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
• The transactions occurred on August 2, 2024, and include the acquisition of 3,475 shares of common stock through the exercise of Stock Appreciation Rights (SARs) at a price of $49.22.
• Valenti also disposed of shares to cover taxes upon vesting of restricted stock (3,071 shares at $63.80 and 1,637 shares at $58.85) and forfeited 762 restricted stock shares due to retirement.
• Following these transactions, Valenti directly owns 16,038.414 shares of common stock and indirectly owns 2,877.443 shares through 401(k)/ESOP.
• Ms. Valenti retired from Tompkins Financial Corporation effective 8/2/2024 and is no longer an insider.

Sentiment

Score: 5

Explanation: The document is neutral, simply reporting transactions related to an executive's retirement. There is no inherent positive or negative sentiment.

Negatives

• The forfeiture of 762 restricted stock shares could be seen as a negative, although it is directly related to the executive's retirement.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Executive retirement and associated stock transactions are common events.

Management Changes

Stakeholder Impact

• Shareholders may be interested in insider transactions as an indicator of management's view of the company's prospects.
• Employees may be affected by the change in management.

Key Dates