Cosgrove Peter K 4

What Happened

• Peter K. Cosgrove, Executive Vice President and Chief Credit Officer of Chemung Financial Corp (CHMG), had 119 shares withheld to satisfy tax obligations related to an equity transaction. The shares were valued at $55.52 each, totaling approximately $6,607. This was a tax-withholding disposition (not an open-market sale).

Key Details

• Transaction date: February 27, 2026; Filing date: March 2, 2026 (Form 4 accession 0001785682-26-000004).
• Price per share: $55.52; Shares withheld/disposed: 119; Total value: ~$6,607.
• Transaction code: F — shares withheld to cover tax withholding; typically follows an option exercise or equity award.
• Shares owned after the transaction: not specified in the provided filing summary.
• Filing timeliness: the Form 4 was filed on March 2, 2026 for a Feb 27 transaction; the filing does not indicate a late filing status.

Context

• This was a tax-withholding disposition (common after option exercises or restricted stock vesting), where the company withholds shares to pay required taxes. It is routine and does not reflect an open-market sale or an express buy/sell decision by the insider. Small dollar value (~$6.6k) makes this a routine administrative transaction rather than a material trade signal for investors.