Tompkins Financial (TMP) SVP David Kershaw Exercises SARs

What Happened

• David Kershaw, Senior Vice President and PAO of Tompkins Financial (TMP), exercised/converted 260 stock appreciation rights (SARs) on 2026-08-04. The filing shows 260 shares credited at $76.90 each (total $19,994).
• To cover option cost and taxes, 220 of those shares were withheld (reported as a disposition) at $101.54 each (total $22,339). After withholding, Kershaw retained a net of 40 common shares. The SARs/derivative position for 260 units was also reported as converted/cancelled.

Key Details

• Transaction date: 2026-08-04; Form 4 filed 2026-08-05 (timely).
• Reported entries: M = exercise/conversion of derivative; F = shares withheld for taxes/option cost.
• Specifics from the filing:
  • Exercise/Conversion (M): 260 shares @ $76.90 = $19,994 (acquired)
  • Withholding (F): 220 shares @ $101.54 = $22,339 (disposed to cover taxes/costs)
  • Derivative cancellation (M): 260 units @ $0.00 (derivative removed)
• Net effect: +40 common shares retained. Total shares owned after the transaction are not specified in the filing.
• Footnote: SARs were granted under the Tompkins Financial Corporation 2009 Equity Plan; SARs settle in common stock, have a five‑year vesting schedule (0% year 1, 25% years 2–5), and expire 10 years from grant.

Context

• This was a typical equity-settlement exercise of SARs with shares withheld to satisfy taxes and option costs (a cashless-style handling). Such withholding is routine and does not by itself indicate a change in insider sentiment. The filing appears timely (filed the business day after the transaction).