Cobain Stephen 4

What Happened Stephen Cobain, Chief Credit Officer of CB Financial Services, exercised options on March 5, 2026, acquiring 1,792 shares at $22.12 per share for a total exercise cost of $39,639. On the same day he sold those shares in a series of open-market transactions at various prices (from $34.51–$35.08), disposing of all 1,792 shares for aggregate proceeds of about $61,962. The pattern (exercise followed by immediate sales of the same number of shares) is consistent with a cashless exercise and sale.

Key Details

• Transaction date: 2026-03-05 (Filed: 2026-03-06 — appears timely)
• Exercise: 1,792 shares @ $22.12 = $39,639 (Form 4 code M = exercise/conversion)
• Sales: 1,792 shares sold in multiple lots at prices ranging from $34.51 to $35.08; total proceeds ≈ $61,962 (Form 4 code S = sale)
• Net cash received before taxes/fees ≈ $22,323 (sales proceeds minus exercise cost)
• A derivative line with N/A shares/@ $0.00 was reported; likely related to withholding or administrative handling of option shares (document lists it as a derivative disposition)
• Footnotes on the filing note restricted stock and option vesting schedules:
  • F1–F4: restricted stock vesting at 20% per year (various commencement dates)
  • F5–F6: stock option vesting at 20% per year (commencement dates listed)
• Shares owned after the reported transactions are not specified in the provided summary

Context

• This was an option exercise followed by immediate sales (commonly a cashless exercise), so the trades represent monetization of vested options rather than a net purchase position. Such transactions are routine for executives exercising vested awards; they are factual events and do not, by themselves, indicate a change in company outlook.