Kenneth D. Pawlak - Apr 21, 2025 Form 4 Insider Report for EVANS BANCORP INC (EVBN)

Role
EVP - Chief Growth Officer
Signature
/s/Jessica L. Brosius, Attorney in Fact for Kenneth D. Pawlak
Stock symbol
EVBN
Transactions as of
Apr 21, 2025
Transactions value $
-$48,414
Form type
4
Date filed
4/23/2025, 05:26 PM
Previous filing
Mar 25, 2025
Next filing
May 2, 2025
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 $38.5K +1.07K +15.58% $35.94 7.95K Apr 21, 2025 Direct
transaction EVBN Common Stock Options Exercise $73.2K +2.04K +25.6% $35.94 9.99K Apr 21, 2025 Direct
transaction EVBN Common Stock Tax liability -$48.4K -1.27K -12.7% $38.15 8.72K Apr 23, 2025 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 Restricted Stock Units Options Exercise -$38.5K -1.07K -50% $35.94 1.07K Apr 21, 2025 Common Stock 1.07K Direct F1, F2, F3
transaction EVBN Performance Stock Units Options Exercise -$73.2K -2.04K -50% $35.94 2.04K Apr 21, 2025 Common Stock 2.04K Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 The reporting person was granted 2,038 restricted stock units. The 1,072 shares in this event have been accelerated and will be the final vesting for this grant type.
F3 No expiration date for this type of award
F4 The reporting person was granted 2,036 performance stock units subject to a three-year cliff vesting schedule and subject to the satisfaction of certain performance criteria. The vest period was accelerated and the shares vested at 100% of target, resulting in the vesting of 2,036 shares of restricted stock, and were transferred to the executive on 4/21/2025.