Form 4: Orrstown Financial EVP Disposes of Restricted Stock for Tax Obligations

Orrstown Financial Services Inc. EVP Christopher D. Holt reported a disposition of restricted stock to cover tax liabilities, maintaining significant equity holdings.

Summary

• Christopher D. Holt, EVP, Market President of Orrstown Financial Services Inc. (ORRF), reported a transaction on July 28, 2025.
• The transaction involved the disposition of 3,037 shares of Orrstown Financial Services, Inc. Common, Restricted Stock.
• The disposition was coded 'F', indicating a disposition to the issuer to cover tax withholding obligations upon the vesting of restricted stock.
• The price per share for the disposed stock was $34.55.
• Following this transaction, Mr. Holt beneficially owns 3,230 shares of time-vested restricted stock, 16,964 shares of common stock (including 1,000 shares owned by his spouse), and 11,261 restricted stock units (RSUs) tied to company performance criteria.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transaction is a non-discretionary disposition of restricted stock to cover tax liabilities upon vesting, which is a common and expected event for executives and does not reflect a change in confidence or strategic direction.

Future Outlook

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

Industry Context

This Form 4 filing details a routine insider transaction related to executive compensation, specifically the disposition of restricted stock to satisfy tax obligations upon vesting. Such transactions are common across all industries, particularly in financial services where equity compensation is a standard component of executive pay.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a sale for cash.

Key Dates

Keywords

Orrstown Financial Services, ORRF, Christopher D Holt, Insider Transaction, Form 4, Restricted Stock, Executive Compensation, Stock Disposition