Form 4: Orrstown Financial COO Disposes of Restricted Stock for Tax Withholding

Orrstown Financial Services Inc.'s SEVP and Chief Operating Officer, Adam L. Metz, disposed of 2,940 shares of restricted common stock to satisfy tax withholding obligations.

Summary

• Adam L. Metz, SEVP, Chief Operating Officer, and Director of Orrstown Financial Services Inc. (ORRF), reported a disposition of shares.
• On July 28, 2025, Mr. Metz disposed of 2,940 shares of Orrstown Financial Services, Inc. Common, Restricted Stock.
• The disposition was coded 'F', indicating it was to satisfy tax withholding obligations at a price of $34.55 per share.
• Following this transaction, Mr. Metz beneficially owns 2,742 shares of time-vested restricted stock, 21,166 shares of common stock (including 15,322 jointly owned with spouse), and 9,561 restricted stock units (RSUs) vesting based on performance criteria.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition of restricted stock for tax withholding, which is a neutral event and does not indicate positive or negative sentiment about the company's performance or outlook.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

This filing reports a routine insider transaction for tax withholding purposes, which is common for executives receiving equity compensation and does not reflect broader industry trends or competitive positioning.

Related Party Transactions

• The filing details an insider transaction where Adam L. Metz, an officer and director, disposed of shares to the issuer for tax withholding.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related transaction by an executive, not a discretionary sale indicating a change in confidence.
• Employees: No direct impact indicated.

Key Dates

Keywords

Orrstown Financial Services, ORRF, Adam L. Metz, SEC Form 4, Insider Transaction, Restricted Stock, Tax Withholding, Officer, Director, Financial Services