ERIC W. SCHRECK - 21 Nov 2024 Form 4 Insider Report for TRUSTCO BANK CORP N Y (TRST)

Role
EVP & TREASURER
Signature
/S/MICHAEL M. OZIMEK, BY POWER OF ATTORNEY
Issuer symbol
TRST
Transactions as of
21 Nov 2024
Net transactions value
-$14,524
Form type
4
Filing time
25 Nov 2024, 17:59:50 UTC
Previous filing
19 Nov 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRST COMMON STOCK Options Exercise $0 +1,107 +4% $0.000000 28,630 21 Nov 2024 Direct F1
transaction TRST COMMON STOCK Tax liability $14,524 -395 -1.4% $36.77 28,235 21 Nov 2024 Direct F2
holding TRST COMMON STOCK 212 21 Nov 2024 BY WIFE

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 -1,107 -33% $0.000000 2,215 21 Nov 2024 COMMON STOCK 1,107 $0.000000 Direct F1, F3, F4
holding TRST RESTRICTED STOCK UNIT 877 21 Nov 2024 COMMON STOCK 877 $0.000000 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting and settlement of restricted stock units ("RSUs"), which convert into common stock of the Issuer on a one-for-one basis.
F2 In an exempt transaction pursuant to Rule 16b-3(e), shares of the Issuer's common stock were withheld by the Issuer for the payment of withholding taxes due upon the vesting of RSUs.
F3 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.
F4 The RSUs vest in three equal annual installments beginning on November 21, 2024, the first anniversary of the date of the grant.
F5 The RSUs "vest" in three equal annual installments beginning on November 15, 2023, the first anniversary of the date of the grant.
F6 Each restricted stock unit represents a contingent right to receive a payment in cash to the fair market value of issued common stock, as determined on the date of the vesting of the restricted stock unit.

Remarks:

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