TrustCo Bank (TRST) VP Lauren McCormick reports 1,756-share gift and indirect stakes
Rhea-AI Filing Summary
TRUSTCO BANK CORP N Y officer Lauren Ann McCormick reported acquiring 1,756 shares of common stock on July 27, 2026 as a bona fide gift, held indirectly as co-trustee of a trust for her child. She also reports 533 shares held directly and 42,923 shares held indirectly by her spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,756 shares
Net Buy
3 txns
Insider
McCormick Lauren Ann
Role
VP,Treasurer, Asst. Corp. Sec.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | COMMON STOCK F1 | 1,756 | $0.00 | $0.00 |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
COMMON STOCK — 1,756 shares (Indirect, AS TRUSTEE FOR CHILD);
COMMON STOCK — 533 shares (Direct);
COMMON STOCK — 42,923 shares (Indirect, BY SPOUSE)
Footnotes (1)
- F1. Shares are held by the Thomas and Susan McCormick Trust for the benefit of the reporting person's child. The reporting person serves as co-trustee of this trust. The reporting person disclaims beneficial ownership of these shares to the extent that she does not have a pecuniary interest therein, and this report should not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
Key Figures
Gifted shares acquired: 1,756 shares
Trust holdings after transaction: 1,756 shares
Direct holdings: 533 shares
+2 more
5 metrics
Gifted shares acquired
1,756 shares
Bona fide gift to trust for child on July 27, 2026
Trust holdings after transaction
1,756 shares
Common stock held indirectly as co-trustee for child
Direct holdings
533 shares
Common stock held directly by reporting person after transaction
Spouse indirect holdings
42,923 shares
Common stock held indirectly by spouse after transaction
Gift price per share
$0.0000
Reported price for bona fide gift transaction
Key Terms
bona fide gift, pecuniary interest, beneficial ownership, Section 16, +1 more
5 terms
bona fide gift regulatory
"transaction_code_description: Bona fide gift"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
pecuniary interest financial
"disclaims beneficial ownership of these shares to the extent that she does not have a pecuniary interest"
beneficial ownership regulatory
"this report should not be deemed an admission that the reporting person is the beneficial owner of these shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 regulatory
"beneficial owner of these shares for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
indirect ownership financial
"ownership_type: indirect; nature_of_ownership: AS TRUSTEE FOR CHILD"
FAQ
What insider transaction did TRST executive Lauren Ann McCormick report?
Lauren Ann McCormick reported acquiring 1,756 shares of TRUSTCO BANK CORP N Y common stock on July 27, 2026 as a bona fide gift, held indirectly through a trust for the benefit of her child.
Was Lauren Ann McCormick’s TRST transaction made under a Rule 10b5-1 plan?
The filing indicates the Rule 10b5-1 checkbox is not marked as an affirmative plan. There is no disclosure that the 1,756-share gift transaction was executed pursuant to a pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
