John B. Connerton - 08 Feb 2023 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: 08 Feb 2023
Net transactions value: -$117
Form type: 4
Filing time: 09 Feb 2023, 12:52:00 UTC
Previous filing: 17 Mar 2022
Next filing: 16 Mar 2023
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	$25,754	+1,460	+9.2%	$17.64	17,258	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Tax liability	$25,794	-645	-3.7%	$39.99	16,613	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Options Exercise	$42,271	+1,710	+10%	$24.72	18,323	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Tax liability	$42,309	-1,058	-5.8%	$39.99	17,265	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Options Exercise	$77,500	+3,100	+18%	$25.00	20,365	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Tax liability	$77,501	-1,938	-9.5%	$39.99	18,427	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Options Exercise	$31,873	+1,390	+7.5%	$22.93	19,817	08 Feb 2023	Direct
transaction	EVBN	Common Stock	Tax liability	$31,912	-798	-4%	$39.99	19,019	08 Feb 2023	Direct

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	-1,460	-100%	$0.000000^*	0	08 Feb 2023	Common Stock	1,460	$17.64	Direct	F1
transaction	EVBN	Option (right to buy)	Options Exercise	$0	-1,710	-100%	$0.000000^*	0	08 Feb 2023	Common Stock	1,710	$24.72	Direct	F1
transaction	EVBN	Option (right to buy)	Options Exercise	$0	-3,100	-100%	$0.000000^*	0	08 Feb 2023	Common Stock	3,100	$25.00	Direct	F1
transaction	EVBN	Option (right to buy)	Options Exercise	$0	-1,390	-100%	$0.000000^*	0	08 Feb 2023	Common Stock	1,390	$22.93	Direct	F1

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

Explanation of Responses:

Id	Content
F1	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.