David J. Lucido - 01 Nov 2021 Form 4 Insider Report for CORTLAND BANCORP INC

Role: SVP & CFO
Signature: David J. Lucido
Issuer symbol: N/A
Transactions as of: 01 Nov 2021
Net transactions value: $0
Form type: 4
Filing time: 02 Nov 2021, 15:23:44 UTC
Previous filing: 27 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Shares	Change %	Date	Ownership	Footnotes
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-15,478	-100%	01 Nov 2021	401-K/Unitized Fund	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-15,892	-100%	01 Nov 2021	David J. Lucido/Tina M. Lucido Revocable Grantor Trust	F1
transaction	CLDB	Cortland Bancorp Common Stock	Disposed to Issuer	-1,096	-100%	01 Nov 2021	Tina M. Lucido/David J. Lucido Revocable Grantor Trust	F1
holding	CLDB	Cortland Bancorp Common Stock				01 Nov 2021	Direct

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

David J. Lucido 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.