Timothy K. Woofter - Nov 1, 2021 Form 4 Insider Report for CORTLAND BANCORP INC (CLDB)

Role: Director
Signature: Timothy K. Woofter
Stock symbol: CLDB
Transactions as of: Nov 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 11/1/2021, 04:49 PM
Previous filing: Sep 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Shares	Change %	Date	Ownership	Footnotes
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-13.1K	-100%	Nov 1, 2021	Direct	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-2K	-100%	Nov 1, 2021	Self Directed IRA/Spouse/Street Name	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-1.49K	-100%	Nov 1, 2021	Joni Trust/Street Name	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-59.2K	-100%	Nov 1, 2021	Tim Woofter Family Trust/Street Name	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-16.9K	-100%	Nov 1, 2021	Tim & Joni Woofer Family Foundation/Street Name	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-617	-100%	Nov 1, 2021	Woofter Family Trust/Joni Trustee	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Timothy K. Woofter is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Disposed of pursuant to the Agreement and Plan of Merger, dated June 22, 2021 (the "Agreement"), by and among Cortland Bancorp ("Cortland"), Farmers National Banc Corp. ("Farmers") and FMNB Merger Subsidiary, IV, LLC ("FMNB"), pursuant to which Cortland merged with and into Farmers (the "Merger") on November 1, 2021 (the "Closing Date"). Pursuant to the Agreement, each share of Cortland common stock issued and outstanding immediately prior to the effective time of the Merger (the "Effective Time") (other than certain shares held by Cortland or Farmers) was converted into the right to receive 1.75 shares (the "Exchange Ratio") of Farmers common stock. The price of Farmers common stock on NASDAQ on the Closing Date was $18.95.

Content

Disposed of pursuant to the Agreement and Plan of Merger, dated June 22, 2021 (the "Agreement"), by and among Cortland Bancorp ("Cortland"), Farmers National Banc Corp. ("Farmers") and FMNB Merger Subsidiary, IV, LLC ("FMNB"), pursuant to which Cortland merged with and into Farmers (the "Merger") on November 1, 2021 (the "Closing Date"). Pursuant to the Agreement, each share of Cortland common stock issued and outstanding immediately prior to the effective time of the Merger (the "Effective Time") (other than certain shares held by Cortland or Farmers) was converted into the right to receive 1.75 shares (the "Exchange Ratio") of Farmers common stock. The price of Farmers common stock on NASDAQ on the Closing Date was $18.95.