John B. Connerton - 09 Sep 2021 Form 4 Insider Report for EVANS BANCORP INC (EVBN)

Role: Treasurer
Signature: /s/Jessica L. Brosius, Attorney in Fact for John B. Connerton
Issuer symbol: EVBN
Transactions as of: 09 Sep 2021
Net transactions value: -$69,510
Form type: 4
Filing time: 10 Sep 2021, 17:02:01 UTC
Next filing: 18 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EVBN	Common Stock	Options Exercise	$46,500	+3,000	+21%	$15.50	17,290	09 Sep 2021	Direct
transaction	EVBN	Common Stock	Sale	$116,010	-3,000	-17%	$38.67	14,290	09 Sep 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	-3,000	-100%	$0.000000^*	0	09 Sep 2021	Common Stock	3,000	$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.