Form 4 for ORRF ORRSTOWN FINANCIAL SERVICES INC
Accepted 2024-07-03 00:00:00 ET · period of report 2024-07-01 · accession 0000826154-24-000160 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | 2024-07-03 | 2024-07-01 | ORRF | Carney Harland E. III | EVP, Market Pres | A - Grant | $0.00 | +11.0K | 4,369 | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Orrstown Financial Services, Inc. Common, Restricted Stock | 2024-07-01 | A | A | 6,667 | $0.00 | 6,667 | D | — | — | (F2) Represents an award of shares of restricted stock of ORRF vesting on July 28, 2025 upon achievement of targeted expense savings based on ORRFs going forward annual expense run rate at June 30, 2025 compared to the combined reported expenses of ORRF and CVLY (excluding merger-related and other extraordinary expenses in both cases) for the year ended December 31, 2023. |
| 2 | Common | Orrstown Financial Services, Inc, Common Stock | 2024-07-01 | A | A | 4,369 | $0.00 | 4,369 | D | — | — | (F1) On July 1, 2024, Codorus Valley Bancorp, Inc. (CVLY) merged with and into Orrstown Financial Services, Inc. (ORRF). Pursuant to the merger, each share of CVLY common stock held by the reporting person was converted into the right to receive 0.875 shares of ORRF common stock (the Exchange Ratio), with an amount in cash, without interest, to be paid in lieu of fractional shares at $25.40 per share. The closing price of ORRF common stock on June 28, 2024 was $27.36 per share. |