Coletti Janet M. 4

What Happened Janet M. Coletti, a director of Tompkins Financial Corporation, was granted 20.136 phantom shares (a derivative award) on July 1, 2026. The per-share reference price shown is $96.84, giving a reported economic value of about $1,950. This was an award under the company’s director compensation plan (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-07-01; Form 4 filed 2026-07-06 (filed 5 days after the transaction; beyond the typical 2-business-day deadline).
• Transaction type/code: A — Award/Grant (derivative phantom stock).
• Shares granted: 20.136 phantom shares; reference price: $96.84; reported value ≈ $1,950.
• Shares owned after transaction: not disclosed in the filing.
• Footnote: These are phantom shares — economic equivalents of common shares held in a rabbi trust under the Amended and Restated Retainer Plan. The reporting person has no voting or investment power over these shares prior to distribution.

Context Phantom stock is deferred compensation that mirrors the economic value of actual shares but does not confer voting rights or direct ownership until distribution; it’s a routine form of director pay rather than a market purchase that signals personal conviction. Because this is a small-value, plan-based award and the filing was submitted several days after the grant, it should be viewed as routine compensation disclosure rather than a timely insider market move.