Robert J. Mccormick - Nov 15, 2023 Form 4 Insider Report for TRUSTCO BANK CORP N Y (TRST)

Role
CHAIRMAN, PRESIDENT & CEO, Director
Signature
/S/ MICHAEL M. OZIMEK, BY POWER OF ATTORNEY
Stock symbol
TRST
Transactions as of
Nov 15, 2023
Transactions value $
-$87,103
Form type
4
Date filed
11/16/2023, 03:42 PM
Previous filing
Nov 13, 2023
Next filing
Nov 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRST COMMON STOCK Options Exercise $0 +3.07K +1.14% $0.00 272K Nov 15, 2023 Direct F1, F2, F3
transaction TRST COMMON STOCK Disposed to Issuer -$87.1K -3.07K -1.13% $28.40 269K Nov 15, 2023 Direct F1, F3
holding TRST COMMON STOCK 89K Nov 15, 2023 BY FAMILY

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TRST RESTRICTED STOCK UNIT Options Exercise $0 -3.07K -33.33% $0.00 6.13K Nov 15, 2023 COMMON STOCK 3.07K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Reflects cash settlement of restricted stock units that settled only for cash.
F2 Each restricted stock unit represents a contingent right to receive a payment in cash equal to the value of one share of Issuer Common Stock on the settlement date.
F3 One third of the restricted stock units awarded November 15, 2022 "vested" on November 15, 2023 and were settled in cash.

Remarks:

ADDITIONAL SHARES ACQUIRED BY REPORTING PERSON'S PARTICIPATION IN DIVIDEND REINVESTMENT AND/OR EMPLOYEE BENEFIT PLAN WITH DIVIDEND REINVESTMENT FEATURE.