Form 4: Orrstown Financial EVP Granted Restricted Stock

Orrstown Financial Services EVP Joshua Hocker received grants of restricted stock and restricted stock units, vesting over three years.

Summary

• Joshua D Hocker, EVP, Market President of Orrstown Financial Services Inc., was granted 1,385 shares of restricted common stock on February 17, 2026.
• Hocker also received 1,384 restricted stock units on February 17, 2026.
• The 1,385 shares of restricted stock have various vesting dates over the next three years.
• The 1,384 restricted stock units will vest three years after the award date, contingent on pre-established company performance criteria.
• Following these transactions, Hocker directly beneficially owns 2,114 shares of Orrstown Financial Services, Inc. Common, Restricted Stock, 1,384 Orrstown Financial Services, Inc., Common, Rest. Stock. Unt., and 3,065 shares of Orrstown Financial Services, Inc, Common Stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting ongoing executive compensation and retention efforts, which can signal stability and confidence in future performance.

Positives

• EVP Joshua D Hocker received grants of 1,385 restricted common stock and 1,384 restricted stock units, aligning his interests with long-term shareholder value.
• The performance-based vesting criteria for the restricted stock units incentivize the executive to achieve company performance goals.

Future Outlook

The restricted stock and restricted stock units are subject to vesting schedules over the next three years, with the units also contingent on pre-established company performance criteria, indicating a future focus on executive retention and performance alignment.

Industry Context

StockSavvy.ai notes that equity grants are a common form of executive compensation in the financial services industry, designed to incentivize long-term performance and retention of key personnel.

Comparison to Industry Standards

• Equity grants like restricted stock and restricted stock units are standard compensation tools across the banking sector, comparable to practices at regional banks such as Fulton Financial Corporation (FULT) or Customers Bancorp (CUBI), which also utilize performance-based equity to align executive incentives with company growth and profitability.

Stakeholder Impact

• Shareholders may benefit from the alignment of executive incentives with long-term company performance and value creation.
• Employees may view this as a standard and competitive compensation practice within the company and industry.

Next Steps

• Vesting of the 1,385 shares of restricted stock over the next three years.
• Vesting of the 1,384 restricted stock units three years after the award date, based on company performance criteria.

Key Dates

Recommendation

This Form 4 details a routine equity grant to an executive, which is a standard compensation practice. It does not provide new information that would significantly alter the investment thesis for Orrstown Financial Services Inc., thus a 'hold' recommendation is appropriate as it maintains the status quo regarding executive incentives.

Keywords

Orrstown Financial Services, ORRF, Form 4, insider transaction, restricted stock, restricted stock units, executive compensation, Joshua Hocker