O'Brien William D 4

What Happened

• William D. O'Brien, Senior Vice President of Pathfinder Bancorp (PBHC), exercised stock options on March 5, 2026 to acquire 3,647 shares at an exercise price of $10.81 per share, for a total cash cost of about $39,424. The filing also shows a related derivative entry disposing of 3,647 shares at $0.00 (reported as a derivative disposition).
• This was an option exercise (transaction code M), meaning O'Brien converted/options were exercised to obtain shares. No open-market sale of those shares is reported in the transaction entries provided.

Key Details

• Transaction date: 2026-03-05; Form filed: 2026-03-06 (appears timely — Form 4 is due within two business days).
• Exercise price: $10.81 per share; shares acquired: 3,647; cash paid ≈ $39,424.
• Related derivative disposition: 3,647 shares @ $0.00 reported (appears as part of the exercise/settlement).
• Shares owned after the transaction: not specified in the excerpt provided — check the full Form 4 for post-transaction holdings and footnotes.
• Transaction type code: M = exercise/conversion of derivative. No 10b5-1 plan, tax-withholding or other footnotes were provided in the summary data.

Context

• For retail investors: an option exercise is the insider converting the right to purchase shares into actual shares. The separate derivative disposal at $0.00 typically reflects conversion/settlement mechanics (for example, net share settlement or internal accounting) rather than an open-market sale — the filing does not report any sale proceeds.
• Purchases or exercises can indicate the insider chose to invest (or realize vested options), but filings do not state intent; this is a factual record of the transaction. Check the full Form 4 for complete holdings and any footnotes (tax withholding, net settlement) that explain the $0 disposal entry.