Form 4: TrustCo Bank Corp N Y Executive Exercises Stock Options and Disposes of Shares
SEC Form 4 Filing
Robert J. McCormick, Chairman, President & CEO of TrustCo Bank Corp N Y, exercised stock options and disposed of shares on November 6, 2024.
Summary
- On November 6, 2024, Robert J. McCormick, Chairman, President & CEO of TrustCo Bank Corp N Y, executed multiple transactions involving the company's common stock.
- McCormick exercised options to buy 8,000 shares at $36.10 and 2,000 shares at $36.10.
- He also exercised options to buy 7,136 shares at $32.15 and 2,865 shares at $32.15.
- Following these transactions, McCormick directly owns 282,750 shares of TrustCo Bank Corp N Y common stock.
- Additionally, McCormick indirectly owns 89,053 shares through family holdings.
- A disposition of 18,832 shares occurred at $37.55.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions by an insider, which doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 11/18/2019 | Date when option award for shares purchased at $36.10 was fully vested. |
| 11/17/2020 | Date when option award for shares purchased at $32.15 was fully vested. |
| 11/06/2024 | Date of the reported transactions: exercising options and disposing of shares. |
| 11/08/2024 | Date of signature on the Form 4 filing. |
| 11/18/2024 | Expiration date for options to buy shares at $36.10. |
| 11/17/2025 | Expiration date for options to buy shares at $32.15. |
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