John B. Connerton - Sep 9, 2021 Form 4 Insider Report for EVANS BANCORP INC (EVBN)

Role: Treasurer
Signature: /s/Jessica L. Brosius, Attorney in Fact for John B. Connerton
Stock symbol: EVBN
Transactions as of: Sep 9, 2021
Transactions value $: -$69,510
Form type: 4
Date filed: 9/10/2021, 05:02 PM
Next filing: Nov 18, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EVBN	Common Stock	Options Exercise	$46.5K	+3K	+20.99%	$15.50	17.3K	Sep 9, 2021	Direct
transaction	EVBN	Common Stock	Sale	-$116K	-3K	-17.35%	$38.67	14.3K	Sep 9, 2021	Direct	F1

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	EVBN	Option (right to buy)	Options Exercise	$0	-3K	-100%	$0.00^*	0	Sep 9, 2021	Common Stock	3K	$15.50	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The 3,000 shares were sold at an average price of $38.6747. The breakdown of this transaction is as follows: 2,488 shares at $38.66, 312 shares at $38.75, 200 shares at $38.74.
F2	The Stock Options shall be exercisable according to the following schedule, 25% of the shares of Common Stock subject to the Stock Option will vest on each of the first four anniversaries of the date of grant.