Hedges David A 4

What Happened

• David A. Hedges, President/CEO and Director of Auburn National Bancorporation (AUBN), had restricted stock units (RSUs) settle on March 10, 2026. Per the filing, 10 shares were issued as dividend equivalents (acquired at $0.00) and 169 shares were withheld by the issuer to satisfy tax withholding obligations (disposed) at $23.85 per share, totaling $4,031. The RSU grant (550 units) was previously reported; on the settlement date a total of 391 shares were issued to Hedges (381 net RSU shares after withholding, plus 10 dividend-equivalent shares).

Key Details

• Transaction date: March 10, 2026 (reported on Form 4 filed March 26, 2026).
• Withholding price used: $23.85 per share (Nasdaq closing price on settlement date); 169 shares withheld = $4,031.
• Shares shown as acquired on this Form 4: 10 dividend-equivalent shares at $0.00.
• Gross RSU grant: 550 RSUs (previously reported July 24, 2025); net RSU shares issued on settlement = 381; total shares issued to reporting person = 391.
• Shares owned after transaction: not specified in the excerpt of the filing.
• Filing timeliness: This Form 4 was filed late (marked in remarks).

Context

• This was a vesting/settlement of RSUs with shares withheld to cover taxes (a routine, non-open-market tax withholding transaction). The 169-share disposition is not an open-market sale but shares surrendered for tax obligations (transaction code F). The filing delay is noted but the transactions themselves reflect standard tax withholding on equity compensation.