Neelesh Kalani - 01 Jul 2024 Form 4 Insider Report for ORRSTOWN FINANCIAL SERVICES INC (ORRF)

Role
EVP, Chief Financial Officer
Signature
/s/ Casara I Kieffer as P.O.A.
Issuer symbol
ORRF
Transactions as of
01 Jul 2024
Transactions value $
-$107,497
Form type
4
Date filed
03 Jul 2024, 16:10
Previous filing
20 Feb 2024
Next filing
19 Feb 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORRF Orrstown Financial Services, Inc. Common, Restricted Stock Tax liability -$107K -3.93K -100% $27.36 0 01 Jul 2024 Direct
transaction ORRF Orrstown Financial Services, Inc. Common, Restricted Stock Award $0 +10K $0.00 10K 01 Jul 2024 Direct F1
holding ORRF Orrstown Financial Services, Inc, Common Stock 13.3K 01 Jul 2024 Direct
holding ORRF Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. 10.9K 01 Jul 2024 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 Restricted stock units vesting three years after the date of the award based on pre-established company performance criteria.