Ameriserv (ASRV) EVP David Finui Exercises Options, Sells 10,000 Shares

What Happened
David A. Finui, EVP — ASRV Wealth & Capital Management, exercised stock options and immediately sold the resulting 10,000 shares in cashless transactions. He exercised 3,498 shares on 2026-08-31 at $3.32/share (cost $11,613) and sold them the same day at a weighted average $5.11/share (proceeds $17,875). He exercised 6,502 shares on 2026-09-04 at $3.32/share (cost $21,587) and sold them the same day at $4.77/share (proceeds $31,015). Total exercise cost = $33,200; total sale proceeds = $48,890; net proceeds before taxes/fees ≈ $15,690. These were option exercises followed by sales (routine liquidity from vested options), not open-market purchases.

Key Details

• Transaction dates and prices:
  • 2026-08-31: exercised 3,498 options @ $3.32; sold 3,498 shares @ weighted avg $5.11 (multiple trades ranged $5.10–$5.1156).
  • 2026-09-04: exercised 6,502 options @ $3.32; sold 6,502 shares @ $4.77.
• Totals: 10,000 shares exercised and sold; proceeds $48,890; exercise cost $33,200; net ≈ $15,690.
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Footnotes:
  • F1: Options vest in three equal annual installments starting 9/29/2017 (vesting terms).
  • F2: Transaction relates to a cashless stock option exercise (options exercised and shares sold to cover exercise/taxes).
  • F3: 8/31 sale executed in multiple trades; reported price is weighted average; full trade details available on request.
• Filing date: Form 4 filed 2026-09-08. The filing does not indicate a late-report flag.

Context

• These were option exercises (derivative code M) followed by immediate sales — a cashless exercise pattern where shares from the exercise are sold to cover costs/taxes and provide liquidity. The separate "derivative disposed" entries reflect surrendered option interests consistent with a cashless exercise.
• Such insider sales after exercising vested options are common and often reflect routine compensation liquidity rather than a straightforward bearish signal. This filing is factual and does not indicate the insider's future view of the company.