Peter Humphrey, former president, CEO and director ofFinancial InstitutionsInc. plans to vote in favor of the of Johnny Guerry and TerryPhilen at the company's annual meeting scheduled for June 3, according to apress statement.
Humphrey said in a statement that he intends to vote 497,742common shares, or 3.4% of the company's outstanding common stock, in favor ofGuerry and Philen. He had previously called for the company to consider sellingfor "an attractive price" in January, following a call by Guerry,managing partner of CloverPartners LP, who recommended exploring a in December 2015.
Financial Institutions Inc. has opposed the nomination ofGuerry and Philen and said it believes an immediate sale of the company isnot in the bestinterest of shareholders.