Gagas Adam C. 4

What Happened

• Adam C. Gagas, a director of Pathfinder Bancorp, exercised stock options on 2026-03-13 to acquire 8,787 shares at an exercise price of $11.35 per share, for a cash cost of $99,732. The filing also records the conversion/surrender of the derivative (the option) corresponding to those 8,787 shares.

Key Details

• Transaction date: 2026-03-13
• Exercise: 8,787 shares acquired at $11.35/share — total cash paid $99,732
• Derivative conversion: 8,787 option units were converted/surrendered (reported as a disposition of the derivative at $0.00)
• Shares owned after transaction: not disclosed in the provided filing details
• No 10b5-1 plan, tax-withholding, or late-filing flag noted in the supplied data

Context

• This was an options exercise (insider paid the exercise price to receive shares); the filing does not report any immediate open-market sale of the acquired shares. Purchases or exercises are generally more informative than sales, but filings alone don’t reveal the insider’s motivation.