Form 4: Director Gencarella Reports Indirect Share Acquisition

Washington Trust Bancorp Director Joseph P. Gencarella reported an indirect acquisition of 39 common shares through inheritance, held by MidwayFour, LLC.

Summary

• Joseph P. Gencarella, a Director of Washington Trust Bancorp Inc. (WASH), reported an acquisition of 39 shares of common stock.
• The shares were acquired on December 3, 2025, through inheritance from a family member.
• These shares are held indirectly by MidwayFour, LLC, an entity of which Mr. Gencarella is a member.
• Mr. Gencarella disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
• The acquisition is exempt from Section 16(b) under Rule 16b-5.
• Mr. Gencarella voluntarily reported this transaction earlier than required under Rule 16a-3(a).
• Following this transaction, Mr. Gencarella indirectly owns 452.0767 shares via MidwayFour, LLC and directly owns 4,505.228 shares.
• Both direct and indirect balances include shares acquired through dividend reinvestments, which are exempt from Form 4 reporting under Rule 16a-11.

Sentiment

Score: 5

Explanation: Neutral. This is a routine disclosure of an insider's change in beneficial ownership due to inheritance, not a strategic or operational announcement. The voluntary early reporting is a minor positive for transparency.

Positives

• Director Gencarella's total beneficial ownership increased, albeit indirectly, by 39 shares.
• The voluntary early reporting of the transaction demonstrates transparency.

Negatives

• No direct purchase of shares by the director, indicating no direct investment decision at this time.

Future Outlook

This filing is a disclosure of a past transaction and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• Mr. Gencarella disclaims beneficial ownership of the shares held by MidwayFour, LLC except to the extent of his pecuniary interest therein.
• The reporting person is voluntarily reporting this transaction on Form 4 earlier than required under Rule 16a-3(a).

Industry Context

This Form 4 filing is a routine insider transaction disclosure for a director of a financial institution. It does not provide broader industry context or competitive analysis.

Comparison to Industry Standards

• This filing is a standard insider transaction report and does not contain information suitable for comparison to industry benchmarks or specific comparable companies/projects.

Stakeholder Impact

• Shareholders: Minor increase in director's indirect ownership, potentially signaling continued alignment of interests, though not a direct investment decision.

Next Steps

• No specific future actions or milestones are mentioned in this Form 4 filing beyond the reporting of the transaction.

Key Dates

Keywords

Washington Trust Bancorp, WASH, Form 4, Insider Trading, Beneficial Ownership, Director, Share Acquisition, Inheritance, MidwayFour LLC