David J. Nasca - 15 Mar 2023 Form 4 Insider Report for EVANS BANCORP INC (EVBN)

Role: President and CEO, Director
Signature: /s/Jessica L. Brosius, Attorney in Fact for David J. Nasca
Issuer symbol: EVBN
Transactions as of: 15 Mar 2023
Net transactions value: +$12,781
Form type: 4
Filing time: 16 Mar 2023, 15:49:56 UTC
Previous filing: 09 Feb 2023
Next filing: 24 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	$24,477	+706	+0.75%	$34.67	95,451	15 Mar 2023	Direct
transaction	EVBN	Common Stock	Tax liability	$11,696	-341	-0.36%	$34.30	95,110	16 Mar 2023	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	Restricted Stock Unit	Options Exercise	$0	-706	-33%	$0.000000	1,412	15 Mar 2023	Common Stock	706		Direct	F2, F3, F4

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

Explanation of Responses:

Id	Content
F1	The 341 shares were sold as follows: 40 shares at $34.30, 94 shares at $34.315, 64 shares at $34.325, 143 share at $34.33.
F2	Restricted stock units convert into common stock on a one-for-one basis.
F3	On March 15, 2022, the reporting person was granted 2,118 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
F4	No expiration date for this type of award