Form 4: Orrstown Financial Services Director Acquires Restricted Stock
SEC Form 4 Filing
Director Mark K. Keller acquired 1,500 shares of restricted stock in Orrstown Financial Services, Inc. on April 30, 2024.
Summary
- On April 30, 2024, Mark K. Keller, a director of Orrstown Financial Services, Inc. (ORRF), acquired 1,500 shares of common restricted stock.
- The acquisition was a direct transaction.
- Following the transaction, Keller directly owns 4,641 shares of Orrstown Financial Services, Inc. common stock, including the restricted stock.
- Keller also indirectly owns 18,208 shares of common stock, with 178 shares held individually and the remainder held jointly with his spouse.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to a director's stock acquisition, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The acquisition of restricted stock by a director could be viewed positively by shareholders as it may align the director's interests with the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 04/30/2024 | Date of transaction: Acquisition of 1,500 shares of restricted stock. |
| 05/02/2024 | Date of signature on the Form 4 filing. |
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