# EDGAR Filing Document

**Accession Number:** 0001195608
**File Stem:** 0001193125-25-203140
**Filing Date:** 2025-9
**Character Count:** 10363
**Document Hash:** a68ff57ef1e584496d8b59c15791dadf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-203140.hdr.sgml**: 20250915

**ACCESSION NUMBER**: 0001193125-25-203140

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250911

**FILED AS OF DATE**: 20250915

**DATE AS OF CHANGE**: 20250915

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MAY ANNE M
- **CENTRAL INDEX KEY:** 0001195608

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-26486
- **FILM NUMBER:** 251313664

**MAIL ADDRESS:**
- **STREET 1:** 100 NORTH GAY STREET
- **STREET 2:** PO BOX 3110
- **CITY:** AUBURN
- **STATE:** AL
- **ZIP:** 36830
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AUBURN NATIONAL BANCORPORATION, INC
- **CENTRAL INDEX KEY:** 0000750574
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 630885779
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 100 N GAY ST
- **STREET 2:** P O DRAWER 3110
- **CITY:** AUBURN
- **STATE:** AL
- **ZIP:** 36831-3110
- **BUSINESS PHONE:** 3348219200

**MAIL ADDRESS:**
- **STREET 1:** 100 NORTH GAY STREET
- **STREET 2:** P O DRAWER 3110
- **CITY:** AUBURN
- **STATE:** AL
- **ZIP:** 36831

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUBURN NATIONAL BANCORPORATION INC
- **DATE OF NAME CHANGE:** 19950124

## Exhibit 99.1

The Shares reported as acquired on this Form 4 result from transfers as part of the settlement of the Estate of Edward L. Spencer, Jr. (the "E.L. Spencer Estate") and the estate of his wife, Mrs. Ruth P. Spencer, pursuant to the terms of their wills and related trusts established by Mr. and Mrs. Spencer (the "Parents").

The Parent's daughter, Sandra J. Spencer has been (i) the sole Personal Representative of the E.L. Spencer Jr. Estate and the sole trustee of the Spencer Revocable Trust, which held an aggregate of 666,825 Shares; and (ii) the sole trustee of the Spencer 2008 Irrevocable Trust established by the late Edward L. Spencer, Jr., which held 64,882 Shares. She was also the sole Personal Representative of the estate of Ruth P. Spencer and the sole trustee of Ruth P. Spencer Revocable Trust, which held 17,000 Shares. The Shares held by these estates and trusts are referred to as the "Parent Shares."

On September 11, 2025, transfers were directed to be made in the brokerage accounts ("trade") holding the Parents' Shares to trusts established as part of the Spencer Revocable Trust for each of their three children, including Edward L. Spencer, III. Of the 243,902 Shares reported above, 227,942 Shares are held by the Spencer Family Non-Exempt Trust for the benefit of ("FBO") Edward L. Spencer, III and 15,960 Shares are held by the Spencer 2008 Exempt Trust FBO Edward L. Spencer, III (the "Receiving Trusts"). The Reporting Person is the sole trustee of the Receiving Trusts, and, as trustee, has the sole voting and dispositive power over the Shares held in the Receiving Trusts. Mr. Edward L. Spencer, III is the sole beneficiary of these Receiving Trusts.

The Reporting Person may be deemed to be the beneficial owner in a total of 288,885 Shares, or 8.3% of total shares outstanding, including the 33,311 shares held by the Reporting Person where she has sole voting and dispositive power. She may also be deemed to have beneficial ownership of 11,672 Shares held pursuant to the Power of Attorney, and in the 243,902 Shares held by the Reporting Person as Trustee of the Receiving Trusts, all on behalf of Edward L. Spencer, III. The Reporting Person disclaims any beneficial interest or pecuniary interest in these 255,574 Shares held by the Reporting Person on behalf of Edward L. Spencer, III.

------

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>MAY ANNE M<br><sub>(Last) (First) (Middle)</sub><br>P. O. BOX 3110<br><sub>(Street)</sub><br>AUBURN, AL 36831-3110<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-11 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>AUBURN NATIONAL BANCORPORATION, INC [ AUBN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| common stock, par value $0.1 | 2025-09-11 |  | J |  | 222275 | A | $0 | 222275 | I | Held as Trustee of the Spencer Family Non-Exempt Trust FBO Edward L. Spencer, III |
| common stock, par value $0.1 | 2025-09-11 |  | J |  | 5667 | A | $0 | 227942 | I | Held as Trustee of the Spencer Family Non-Exempt Trust FBO of Edward L. Spencer, III |
| common stock, par value $0.1 | 2025-09-11 |  | J |  | 15960 | A | $0 | 15960 | I | Held as Trustee of the Spencer 2008 Exempt Trust FBO of Edward L. Spencer, III |
| common stock, par value $0.1 |  |  |  |  |  |  |  | 33311 | D |  |
| common stock, par value $0.1 |  |  |  |  |  |  |  | 11672 | I | Held as to a Power of Attorney ("Power of Attorney") for Edwad L. Spencer, III.  See Note 1 |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

**Remarks:**
Note 1.
Anne M. May (the "Reporting Person") was granted a durable Power of Attorney and related account authorizations (the "Power of Attorney") by Edward L. Spencer, III that were completed on May 15, 2024 with respect to 11,672 shares of Common Stock, including 1,320 shares held by the grantor indirectly as one-third member of Spencer LLC (the "Spencer LLC").  It shall not be deemed an admission that the reporting person is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of the Shares covered by such Power of Attorney, or any of the 2,640 shares held in the LLC beneficially owned by the 2 other members of the LLC.  Anne M. May disclaims any beneficial ownership or pecuniary interest in the 11,672 Shares held pursuant to this Power of Attorney.
Note 2
 This filing is being made in connection with the settlement of the estates of, and the pour over distributions from the trusts established by the late Mr. Edward L. Spencer Jr. and his late wife, Mrs. Ruth P. Spencer (together with Edward L. Spencer, Jr., the "Parents").  These transactions are transfers of securities by will or the laws of descent and distribution (inheritances), which are exempt from Securities Exchange Act of 1934 ( the "Exchange Act") Section 16(b) by United States Securities and Exchange Commission ("Commission") Rule 16b-5.  It shall not be deemed an admission that Anne M. May (the "Reporting Person") is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of (i) the Shares previously pursuant to a Power of Attorney described in Note 1 or (ii) as Trustee of the Receiving Trusts (as defined below).  Any fractional Shares have been rounded to whole Shares

**Signature:** /s/ Anne M. May  
**Date:** 2025-09-15

### Remarks:

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.**