Dalrymple group holds 5.7% of Chemung Financial (CHMG)
Rhea-AI Filing Summary
Dalrymple Family Limited Partnership and related individuals report beneficial ownership of 272,018 shares of Chemung Financial Corp common stock, representing 5.7% of the class. All reported shares carry shared voting and shared dispositive power, with no sole voting or dispositive authority.
The shares are held for the benefit of the general and limited partners of Dalrymple Family Limited Partnership. The report states that no individual partner has the right to receive dividends or sale proceeds from more than 5% of Chemung Financial’s common stock.
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FAQ
What ownership stake in Chemung Financial Corp (CHMG) does the Dalrymple group report?
The Dalrymple group reports beneficial ownership of 272,018 Chemung Financial shares, equal to 5.7% of the common stock. This crosses the 5% disclosure threshold, requiring a Schedule 13G/A filing to report their position and control rights.
Who are the reporting persons in the Chemung Financial (CHMG) Schedule 13G/A?
The reporting persons are Dalrymple Family Limited Partnership, Henry M. Dalrymple, and Matthew D. Dalrymple. Each reports the same 272,018 shares as beneficially owned, reflecting shared control arrangements over the Chemung Financial common stock position.
How much voting power does the Dalrymple group have in Chemung Financial (CHMG)?
The Dalrymple group reports shared voting power over 272,018 shares of Chemung Financial and no sole voting power. They also report shared dispositive power over the same shares, indicating joint authority over voting and potential sale decisions.
Are any Dalrymple partners entitled to more than 5% of Chemung Financial (CHMG) dividends or proceeds?
The report states that the shares are held for Dalrymple Family Limited Partnership’s partners and that no partner has rights to more than 5% of dividends or sale proceeds. This means economic benefits are spread so no individual exceeds the 5% threshold.
What type of securities does the Dalrymple group hold in Chemung Financial (CHMG)?
The position consists of Common Stock with $0.01 par value of Chemung Financial Corp. The filing identifies the securities using CUSIP 164024101, which uniquely corresponds to this class of Chemung Financial common shares.
What is the event date triggering this Chemung Financial (CHMG) ownership report?
The report lists December 31, 2020 as the date of the event requiring the ownership statement. That date marks when the beneficial ownership position, or a change in it, reached a level that required updated disclosure.