Form 4: TrustCo Bank Director Settles RSUs, Disposes Shares

TrustCo Bank Corp NY Director Thomas O. Maggs settled 550 restricted stock units for cash and disposed of 550 common shares on November 19, 2025.

Summary

• Director Thomas O. Maggs reported the settlement of 550 restricted stock units (RSUs) for cash.
• The RSUs, awarded on November 19, 2024, vested on November 19, 2025, and were settled in cash, with each unit representing a contingent right to receive cash equal to the value of one share of TrustCo Bank Corp NY common stock.
• Concurrently, Maggs disposed of 550 shares of common stock at a price of $39.7 per share.
• Following these transactions, Maggs' direct beneficial ownership of common stock is 17,469 shares, with an additional 228 shares owned indirectly by family.
• Additional shares were acquired by the reporting person through participation in dividend reinvestment and/or an employee benefit plan with a dividend reinvestment feature.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction related to executive compensation and a share disposition, which is neither inherently positive nor negative for the company's operational or financial performance.

Future Outlook

The filing does not provide any forward-looking statements or guidance.

Industry Context

This filing details a routine insider transaction involving the settlement of restricted stock units and a disposition of common stock, which is a standard practice for executive compensation and personal financial management within the banking sector.

Comparison to Industry Standards

• This is a standard restricted stock unit (RSU) settlement and share disposition event, common across industries for executive compensation and personal financial management. No specific comparable companies, projects, or results are mentioned or implied within the filing.

Related Party Transactions

• The reported transactions involve a director of the company, Thomas O. Maggs, settling restricted stock units and disposing of common stock, which constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine compensation and personal financial management event for a director.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine cash settlement of restricted stock units for a director and a subsequent disposition of common stock. This is a standard compensation event and does not provide new information to alter an investment thesis for TrustCo Bank Corp NY. It is a neutral event that does not warrant a change in investment recommendation based solely on this filing.

Keywords

TRUSTCO BANK CORP N Y, TRST, Form 4, Insider Transaction, Restricted Stock Units, Cash Settlement, Director Compensation, Beneficial Ownership, Share Disposition