Form 4: Orrstown Financial Services CEO Thomas R. Quinn Jr. Reports Changes in Beneficial Ownership

Thomas R. Quinn Jr., President & CEO of Orrstown Financial Services Inc., reports acquisition and disposal of company stock on February 16, 2025.

Summary

• On February 16, 2025, Thomas R. Quinn Jr., the President & CEO of Orrstown Financial Services Inc. (ORRF), reported changes in his beneficial ownership of the company's stock.
• He disposed of 2,409 shares of Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. at a price of $33.64.
• He acquired 8,917 shares of Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. at a price of $0.
• He acquired 8,918 shares of Orrstown Financial Services, Inc, Common, Restricted Stock at a price of $0.
• Following these transactions, Quinn directly owns 30,116 shares of Orrstown Financial Services, Inc., Common, Rest. Stock. Unt., 32,918 shares of Orrstown Financial Services, Inc, Common, Restricted Stock and 69,031 shares of Orrstown Financial Services, Inc, Common Stock.
• 62,621 of the shares are owned jointly with his spouse.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports transactions and doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings to gain insights into management's perspective on the company's stock and future prospects.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the United States, ensuring transparency in stock transactions.
• Similar filings are required in other countries with developed capital markets, such as the UK (through the FCA's Disclosure Guidance and Transparency Rules) and Canada (through SEDI).
• The level of detail disclosed in this Form 4 is consistent with SEC requirements, including transaction dates, share quantities, prices, and ownership types.
• Comparable companies like Fulton Financial Corporation (FFC) and Northwest Bancshares, Inc. (NWBI) also have their executives and directors file similar forms when they trade their company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• It can influence investor perception of management's confidence in the company.

Key Dates