Spencer Amends Auburn National Bancorporation Stake

TL;DR

Sandra Spencer updated her Auburn National Bancorporation filing. Watch for more details.

AI Summary

Sandra J. Spencer filed an amendment to her Schedule 13D on April 29, 2024, regarding Auburn National Bancorporation, Inc. This filing indicates a change in her beneficial ownership of the company's common stock. The specific details of the change in ownership percentage or number of shares are not explicitly stated in this excerpt, but it is an update to a previous filing.

Why It Matters

Changes in beneficial ownership filings like this can signal shifts in control or significant investor interest, potentially impacting the stock price of Auburn National Bancorporation.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant stake changes, which can lead to increased volatility or strategic moves by investors.

Key Players & Entities

• Sandra J. Spencer (person) — Filing person
• Auburn National Bancorporation, Inc. (company) — Subject company
• 0000750574 (company) — Central Index Key for Auburn National Bancorporation, Inc.
• 0002005617 (person) — Central Index Key for Sandra J. Spencer

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common stock, Par Value $0.01 per Share (Title of Class of Securiti

Filing Documents

• sandra_spencer_amend_1_m.htm (SC 13D/A) — 65KB
• 0000950170-24-052405.txt ( ) — 67KB

Security and Issuer

Item 1. Security and Issuer. Security: Common Stock, par value $0.01 per share (“ Shares ”). Issuer: A uburn National Bancorporation, Inc. 100 N. Gay Street Auburn, Alabama 36830

Identity and Background

Item 2. Identity and Background. Sandra J. Spencer Auburn, Alabama 36830 Present Principal Occupation: Retired from Auburn University

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Not applicable. Ms. Sandra J. Spencer acquired the voting and dispositive power over Shares aggregating 5% or more of the Issuer’s outstanding shares of common stock as a result of the death of Edward L. Spencer, Jr., her father, and Ms. Spencer’s appointment as his estate’s (the “ Edward L. Spencer Estate ”) personal representative under Mr. Spencer’s Will and her becoming the successor to Mr. Spencer as trustee under a trust established by Mr. Spencer. Ms. Spencer’s appointment as the Estate’s Personal Representative was confirmed on December 14, 2023 by the Lee County, Alabama Probate Court. Prior to Mr. Spencer’s death and her appointment as Personal Representative of the Estate, Ms. Spencer held beneficial ownership of less than 1.00% of the Company’s outstanding shares of common stock. Upon Mr. Spencer’s death, Sandra J. Spencer held a power of attorney over 17,000 shares held by her mother, Ruth Spencer. Upon Ruth Spencer’s death on April 29, 2024, such power of attorney terminated by operation of law. Ruth Spencer’s Will names Sandra J. Spencer as personal representative of the Ruth Spencer Estate, subject to probate court confirmation. Sandra J. Spencer is also the trustee of the Ruth P. Spencer 2008 Revocable Trust. In the future, at some point following Sandra J. Spencer’s confirmation as the Personal Representative, the Ruth Spencer Estate will transfer the 17,000 shares it holds to the Ruth P. Spencer 2008 Revocable Trust, which will ultimately distribute these shares equally to trusts for the benefit of each Sandra J. Spencer and her two brothers.

Purpose of Transaction

Item 4. Purpose of Transaction. To reflect the termination of the power of attorney held by Sandra J. Spencer upon the death of her mother, Ruth Spencer, to reflect the Sandra J. Spencer’s role as Personal Representative in administering and settling the Ruth Spencer Estate and acting as trustee of the Ruth P. Spencer 2008 Revocable Trust. There are no actions of the type specified in the Instruction to this Item 4 or similar actions contemplated presently.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. a. See responses to Items 11-13 above. The aggregate number of Shares beneficially owned is 724,978.89. The cover page of the Issuer’s Annual Report on Commission Form 10-K as of and for the year ended December 31, 2023 reported that the Issuer had 3.493,674 shares issued and outstanding. b. See responses to Items 11-13 above. c. None, except as described with in Item 3 above, and as a result of the death of Ruth Spencer. Ms. Spencer has held the power of attorney over Mrs. Ruth Spencer’s 17,000 shares since October 12, 2023 when her father, Edward L. Spencer died. This power of attorney terminated by operation of law upon Ruth Spencer’s death on April 29, 2024, and such 17,000 shares are held in the . Mrs. Ruth Spencer’s will names Sandra Spencer as the Personal Representative of the Ruth Spencer Estate, subject to confirmation by the Probate Court of Lee County. Alabama. See responses to Items 11 and 12 and Item 3 above. d. None. e. Not applicable.

Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of the Issuer. Not applicable.

Materials to be Filed as Exhibits

Item 7. Materials to be Filed as Exhibits. None.

Signatures

Signatures After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: May 2, 2024 Signature: /s/ Sandra J. Spencer Name: Sandra J. Spencer Title: Individually and as Personal Representative of the Estate of Edward L. Spencer, Jr. and as Trustee of the E . L. Spencer Jr. 2008 Revocable Trust

View Full Filing

View this SC 13D/A filing on SEC EDGAR