Lynch Michael D 4

What Happened
Michael D. Lynch, EVP & Chief Financial Officer of Ameriserv Financial, exercised derivative securities (stock options) on January 23, 2026. The filing shows 3,000 shares were acquired on exercise at $2.96 per share (total $8,880) and 3,000 shares were disposed the same day at $2.96 per share (total $8,880). This pattern indicates an exercise with an immediate sale of an equal number of shares (commonly done to cover exercise costs or tax withholding).

Key Details

• Transaction date: 2026-01-23. Price reported: $2.96 per share. Values: 3,000 × $2.96 = $8,880 (acquired) and 3,000 × $2.96 = $8,880 (disposed).
• Transaction type code: M = exercise/conversion of derivative (stock options).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes:
  • F1 — The common shares are held jointly with Mr. Lynch’s spouse.
  • F2 — The options exercised vest in three equal annual installments beginning April 11, 2017 (subject to acceleration or forfeiture in certain cases).
• Filing timeliness: No late-filing flag provided in the excerpt.

Context
When an insider both acquires shares via option exercise and sells the same number the same day, it is often a cashless or partial cashless exercise (shares sold to cover the exercise price and/or taxes). Such transactions are routine and do not necessarily signal a change in the insider’s view of the company.