Pathfinder Bancorp (PBHC) director boosts stake by exercising 8,787 options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Pathfinder Bancorp director Adam C. Gagas exercised stock options and increased his direct share holdings. On 2026-03-13, he exercised options for 8,787 shares of Common Stock at an exercise price of $11.35 per share, converting all remaining options covered in this filing.

Following the transactions, he directly owns 35,588 shares of Common Stock. The filing also shows indirect ownership of 148,664 shares held "By POA" and 17,756 shares held "By IRA," in addition to the direct position. No open-market purchases or sales are reported in this filing.

Insider Trade Summary

8,787 shares exercised/converted

Mixed 4 txns

Insider Gagas Adam C.

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Options	8,787	$0.00	--
Exercise	Common Stock	8,787	$11.35	$100K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options — 0 shares (Direct); Common Stock — 35,588 shares (Direct); Common Stock — 148,664 shares (Indirect, By POA)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

03/13/2026 - 06:22 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gagas Adam C.

(Last)

(First)

(Middle)

214 WEST FIRST STREET

(Street)

OSWEGO

13126

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Pathfinder Bancorp, Inc. [ PBHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/13/2026		M		8,787	A	$11.35	35,588	D
Common Stock								148,664	I	By POA
Common Stock								17,756	I	By IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$11.35	03/13/2026		M			8,787	05/06/2017	05/06/2026	Common Stock	8,787	$0	0	D

Explanation of Responses:

	/s/ James A. Dowd as POA for Adam C. Gagas	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Adam C. Gagas report for Pathfinder Bancorp (PBHC)?

Adam C. Gagas reported exercising stock options at Pathfinder Bancorp. He converted 8,787 options into Common Stock on 2026-03-13 at an exercise price of $11.35 per share, increasing his direct equity stake without any reported open-market buying or selling.

How many Pathfinder Bancorp (PBHC) shares did Adam C. Gagas acquire through option exercise?

Adam C. Gagas acquired 8,787 Pathfinder Bancorp Common Stock shares via option exercise. These came from previously granted Stock Options with a stated exercise price of $11.35 per share, classified as a derivative exercise rather than an open-market purchase or sale.

What are Adam C. Gagas’s direct Pathfinder Bancorp (PBHC) holdings after this Form 4?

After the reported transactions, Adam C. Gagas directly holds 35,588 shares of Pathfinder Bancorp Common Stock. This figure reflects his position following the 8,787-share option exercise, as reported in the filing’s post-transaction ownership column for direct holdings.

Does Adam C. Gagas have indirect ownership in Pathfinder Bancorp (PBHC) shares?

Yes. The filing shows 148,664 Pathfinder Bancorp Common Stock shares held indirectly "By POA" and 17,756 shares held indirectly "By IRA." These positions are in addition to his directly owned 35,588 shares reported after the option exercise.

Were there any open-market buys or sells in this Pathfinder Bancorp (PBHC) Form 4?

No open-market buys or sells are listed. The primary activity is an option exercise coded “M,” which converts 8,787 Stock Options into Common Stock. The filing also restates indirect holdings but does not show separate purchase or sale transactions.

What happened to Adam C. Gagas’s Pathfinder Bancorp (PBHC) stock options in this filing?

The filing reports an exercise of 8,787 Stock Options with an exercise price of $11.35 per share. After this derivative exercise, the remaining options covered by this filing show a balance of zero, indicating this block of options was fully exercised.