Lekanides Phillip 4

What Happened Phillip Lekanides, Senior Vice President and Chief Accounting Officer of Rhinebeck Bancorp, exercised 500 stock options on 2026-05-04 to acquire 500 common shares at an exercise price of $6.57 per share, for a cash payment of $3,285. The Form 4 also reports a corresponding disposition entry for the derivative instrument at $0.00 — a routine reporting treatment when an option is converted into shares. Footnote F2 notes the options were fully vested.

Key Details

• Transaction date: 2026-05-04; Form 4 filed: 2026-05-05 (appears timely).
• Primary transaction: Exercise/conversion of derivative (code M) — 500 shares acquired at $6.57 each; total cost $3,285.
• Corresponding entry: 500-share disposition of the derivative instrument reported at $0.00 (typical when options are exercised).
• Shares owned after the transaction: Not specified on the filing.
• Footnotes: F1 — reflects transactions not required to be reported pursuant to Section 16; F2 — stock options are fully vested.

Context This was an option exercise (not an open-market purchase or sale). Lekanides paid cash to exercise the options (not a cashless sell-to-cover in the filing), resulting in an acquisition of 500 shares. Such exercises are commonly routine compensation actions and do not, by themselves, indicate a change in insider sentiment.