Form 4: Orrstown Financial Services Chief Accounting Officer Reports Tax-Related Stock Disposition
Insider Transaction Report
Sean Mulcahy, Chief Accounting Officer of Orrstown Financial Services Inc., reported a disposition of 358 common shares for tax purposes at a price of $31.83 per share on July 1, 2025.
Summary
- Sean Mulcahy, Chief Accounting Officer of Orrstown Financial Services Inc. (ORRF), reported a transaction on July 1, 2025.
- The transaction involved the disposition of 358 shares of Orrstown Financial Services, Inc. Common Stock.
- The shares were disposed of at a price of $31.83 per share.
- This disposition was coded as 'F', indicating it was for the payment of tax liability by withholding securities.
- Following this transaction, Sean Mulcahy beneficially owns 4,954 shares of Common Stock directly, which includes 300 shares owned jointly with his spouse.
- Additionally, he directly owns 3,351 shares of time-vested restricted stock, with various vesting dates over the next three years.
Sentiment
Score: 5
Explanation: The transaction is a routine tax-related disposition of shares, which is neutral in sentiment and does not indicate positive or negative company performance or insider sentiment.
Industry Context
This Form 4 filing details a routine insider transaction for tax purposes, which is common in the financial services industry when restricted stock or other equity awards vest. It does not reflect broader industry trends or competitive positioning.
Related Party Transactions
- The beneficial ownership of 4,954 common shares includes 300 shares owned jointly with the reporting person's spouse.
Stakeholder Impact
- The disposition of 358 shares for tax purposes by a Chief Accounting Officer is a minor, routine transaction and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 07/01/2025 | Date of earliest transaction for the disposition of common stock. |
| 07/03/2025 | Signature date of the filing by Casara I Kieffer as Power of Attorney. |
Keywords
Orrstown Financial Services Inc., ORRF, Sean Mulcahy, Chief Accounting Officer, Form 4, SEC filing, stock disposition, insider transaction, common stock, restricted stock, tax withholding
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