Form 4: Orrstown Financial Services Director Meera R Modi Acquires Restricted Stock
SEC Form 4 Filing
Director Meera R Modi acquired 1,500 shares of restricted stock in Orrstown Financial Services, Inc. on April 30, 2024.
Summary
- On April 30, 2024, Meera R Modi, a director of Orrstown Financial Services, Inc. (ORRF), acquired 1,500 shares of restricted stock.
- The transaction was reported in a Form 4 filing with the SEC on May 2, 2024.
- Following the transaction, Modi directly owns 4,641 shares of Orrstown Financial Services, Inc. Common, Restricted Stock and 4,015 shares of Common Stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Positives
- The acquisition of restricted stock by a director could be seen as a positive sign, indicating confidence in the company's future performance.
Industry Context
This is a standard SEC filing related to insider transactions. It is common for directors and officers of publicly traded companies to receive stock as part of their compensation.
Stakeholder Impact
- The acquisition of shares by a director can be viewed positively by shareholders as it aligns the director's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/30/2024 | Date of transaction: Meera R Modi acquired 1,500 shares of restricted stock. |
| 04/30/2024 | Deemed Execution Date of transaction: Meera R Modi acquired 1,500 shares of restricted stock. |
| 05/02/2024 | Date of Form 4 filing. |
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