Downing Scott Lowell 4

What Happened
Downing Scott Lowell (Director) acquired 41,924 shares of Colony Bankcorp (CBAN) on February 23, 2026 via inheritance. The shares were recorded at $0.00 per share (code W — acquired by will/inheritance), so the reported purchase price and immediate cash value on the Form 4 are $0.

Key Details

• Transaction date: 2026-02-23; Form 4 filed: 2026-03-19 (filed late relative to the typical two-business-day requirement).
• Transaction type/code: W — acquisition by will/inheritance. Footnote F1 confirms these shares were inherited.
• Shares acquired: 41,924; reported price per share: $0.00; reported total value on form: $0.
• Shares owned after transaction: not specified in the provided report.
• Timeliness: The filing was submitted about 24 days after the transaction date, which is later than the standard Form 4 reporting window.

Context
Inherited shares are transfers of ownership due to estate events and do not reflect an insider purchase decision or sale; they generally should not be interpreted as a bullish or bearish trading signal. Late filings reduce transparency for investors and may warrant attention, but they do not change the nature of the inheritance transaction itself.