Tompkins Financial (TMP) EVP Diane Torcello Exercises SARs

What Happened

• Diane D. Torcello, EVP and President of Tompkins WNY, exercised 250 stock appreciation rights (SARs) on July 27, 2026. The exercise resulted in 250 shares reported as acquired (250 @ $76.90 = $19,225). Simultaneously, 214 shares were withheld to cover taxes/option costs (214 @ $99.68 = $21,332). The derivative instrument was reported as converted/settled (250 shares, $0 reported for the derivative line).
• Net effect: 250 shares issued minus 214 shares withheld = 36 net shares issued to the insider.

Key Details

• Transaction date: 2026-07-27; Form 4 filed 2026-07-29 (timely filing).
• Reported lines and codes: M = exercise/conversion of derivative (SARs); F = shares withheld to pay tax/option costs.
• Prices and values reported: 250 shares acquired @ $76.90 (total $19,225); 214 shares withheld @ $99.68 (total $21,332); derivative conversion line shown at $0.
• Shares owned after the transaction: not provided in the data you supplied.
• Footnotes: F1 notes shares withheld for option costs and taxes. F2 describes the SARs: granted under the Tompkins Financial 2009 Equity Plan, settled in common stock, five‑year vesting (0% year 1, 25% years 2–5), and 10‑year expiration.

Context

• This was an exercise/settlement of SARs that were paid in company stock with shares withheld to cover tax/option costs (a common cashless-type settlement). Such withholding is routine and reflects tax obligations rather than an active market sale by the insider.
• The filing is routine for an executive equity settlement and was filed promptly after the transaction.