Guthrie Charles R. 4

What Happened

• Charles R. Guthrie, Vice Chairman of the Board at CB Financial Services, exercised stock option derivatives on Feb 6, 2026 to acquire 1,400 shares at $26.45 (cost $37,030) and 1,115 shares at $30.75 (cost $34,286), for a total of 2,515 shares acquired for ~$71,316.
• The filing also shows an open‑market sale that same day of 1,913 shares at $37.35, generating $71,451. The Form 4 lists two additional derivative disposition lines with N/A share counts and $0 value (see Key Details / footnotes).

Key Details

• Transaction date: 2026-02-06.
  • Exercises: 1,400 shares @ $26.45 = $37,030; 1,115 shares @ $30.75 = $34,286.
  • Sale: 1,913 shares @ $37.35 = $71,451.
  • Two additional derivative disposals reported with N/A/$0 (details not specified on excerpt).
• Shares owned after the reported transactions: not specified in the provided filing excerpt.
• Footnotes: F1–F4 note restricted stock awards that vest 20% per year commencing on Feb 16 of 2023, 2024, 2025, and 2026, respectively.
• Filing date: 2026-02-09. The filing appears timely based on the Feb 6 transaction date.

Context

• The insider both exercised options (an acquisition) and sold shares the same day. When exercises and same‑day sales occur together, it commonly reflects a cashless exercise or a sell‑to‑cover of taxes/fees, though the filing does not state the insider’s motive.
• Restricted stock footnotes indicate some holdings are subject to multi‑year vesting schedules and are separate from the exercised option shares.

Takeaway for retail investors: Guthrie acquired 2,515 shares via option exercise and sold a smaller number (1,913) the same day for roughly equal dollar value — a common insider pattern to cover exercise costs or taxes rather than a straightforward directional bet.