Arthur J. Bassin - Aug 10, 2023 Form 4 Insider Report for SALISBURY BANCORP, INC. (SAL)

Role
Director
Signature
/s/ Arthur J. Bassin
Stock symbol
SAL
Transactions as of
Aug 10, 2023
Transactions value $
$0
Form type
4
Date filed
8/14/2023, 09:43 AM
Previous filing
May 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAL Common Stock Award $0 +1.94K +35.93% $0.00 7.34K Aug 10, 2023 Direct F1
transaction SAL Common Stock Disposed to Issuer -7.34K -100% 0 Aug 11, 2023 Direct F2
transaction SAL Common Stock Disposed to Issuer -27.6K -100% 0 Aug 11, 2023 By Trust F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Arthur J. Bassin is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Award of restricted stock pursuant to the Issuer's 2017 Long Term Incentive Plan. 800 shares were granted on 5/19/21 and 1,140 shares were granted on 5/18/22, subject to three-year cliff vesting. The shares vested on 8/10/2023, subject to accelerated vesting upon certain change in control events.
F2 Each share of Issuer common stock was converted into and became exchangeable for the right to receive 0.7450 shares of NBT Bancorp Inc. ("Buyer") common stock.
F3 Shares owned by the Arthur J. Bassin and Susan B. Bassin Revocable Agreement of Trust.

Remarks:

This "Exit" Form 4 is voluntarily filed to report that the Reporting Person is no longer serving in the role as the Company's director, effective as of August 11, 2023, and therefore is no longer subject to Section 16 reporting for Salisbury.