Tompkins Financial Corp: EVP David M DeMilia exercised 255 shares

What happened David M DeMilia, executive vice president and president of TCB Hudson Valley, exercised 255 SARs/options on Oct 16, 2026, acquiring 255 common shares at $76.90 per share for a total cash amount of $19,610. The filing shows 227 shares were withheld to cover option cost and taxes, reported as a disposal of 227 shares at $97.58 per share for $22,151. The filing also reports five small acquisitions through the company plan: purchases of 1.092, 1.084, 0.995, 1.002 and 1.042 shares for $100 each on Jun 12, Jul 14, Aug 12, Sep 14 and Oct 14, 2026.

Key details

• Transaction dates and prices:
  • Jun 12, 2026: acquired 1.092 shares @ $91.61 for $100 (marked L)
  • Jul 14, 2026: acquired 1.084 shares @ $92.29 for $100 (marked L)
  • Aug 12, 2026: acquired 0.995 shares @ $100.51 for $100 (marked L)
  • Sep 14, 2026: acquired 1.002 shares @ $99.84 for $100 (marked L)
  • Oct 14, 2026: acquired 1.042 shares @ $95.97 for $100 (marked L)
  • Oct 16, 2026: exercised 255 shares @ $76.90, acquired for $19,610 (derivative exercise)
  • Oct 16, 2026: 227 shares withheld to pay exercise cost/taxes @ $97.58, disposed for $22,151 (tax/withholding)
  • Oct 16, 2026: derivative entry showing disposal of 255 SARs @ $0.00
• Shares owned after the transactions: the filing does not state total shares owned after these transactions.
• Relevant footnotes from the filing:
  • F1: optional cash purchases through Tompkins Financial dividend reinvestment and stock purchase and sale plan (applies to the five $100 purchases).
  • F2: shares withheld for option cost and taxes (applies to the 227-share withholding).
  • F3: SARs granted under the company 2009 equity plan; SARs vest over five years and are settled in common stock.
• Timeliness: the five small purchases are marked with transactionTimeliness = "L" (late).

Why it may matter

• The filing shows an exercise of SARs/options and that 227 shares were withheld to cover option cost and taxes, which reflects a net (withholding) settlement rather than a market sale of all exercised shares.
• The five small purchases were made via the company plan (optional cash purchases).
• A filing does not show why the insider traded or why the company acted.