Tompkins Financial EVP David DeMilia Receives Award, Sells Shares

What Happened David M. DeMilia, EVP and President of TCB Hudson Valley at Tompkins Financial (TMP), received a 730‑share performance‑based award on 2026‑05‑18 and had 264 shares withheld to cover taxes (disposed) at $84.18 for $22,224. He also made four small open‑market purchases between 2026‑02‑13 and 2026‑05‑13 totaling about $400 (roughly 4.9 shares across four buys).

Key Details

• Transactions filed on Form 4 dated 2026‑05‑20 covering activity from 2026‑02‑13 through 2026‑05‑18. Several small purchases are marked “L” indicating late reporting.
• Open‑market purchases (optional cash purchases via the company DRIP/Stock Purchase Plan, footnote F1):
  • 2026‑02‑13: 1.200 shares @ $83.32 = $100
  • 2026‑03‑12: 1.342 shares @ $74.49 = $100
  • 2026‑04‑14: 1.183 shares @ $84.50 = $100
  • 2026‑05‑13: 1.208 shares @ $82.75 = $100
• Award and tax withholding (footnotes):
  • 2026‑05‑18: 730 performance‑based stock units (PSUs) granted @ $0.00 (F2 explains vesting is performance‑contingent over a three‑year period).
  • 2026‑05‑18: 264 shares withheld for taxes @ $84.18 = $22,224 (F3).
• Shares owned after the transactions: not specified in the provided filing details.
• Footnotes: F1 = purchases via Dividend Reinvestment & Stock Purchase Plan; F2 = PSUs vest based on multi‑year performance metrics; F3 = shares withheld to satisfy tax withholding.

Context

• The 730‑share entry is a performance‑based award (PSUs) that convert to common shares only if performance goals are met over the performance period; it is not an immediate free cash purchase.
• The 264‑share disposal was a tax withholding related to the award (routine), not an open‑market sale. The small purchases are modest and likely routine participation in the company’s DRIP/stock purchase plan.
• Filing was submitted on 2026‑05‑20 while some purchases date back to February and are marked late (L), which indicates delayed reporting of those small acquisitions.