Form 4: Orrstown Financial Services EVP, Chief Operating Officer Craig L Kauffman Reports Stock Disposal
SEC Form 4 Filing
Craig L Kauffman, EVP and Chief Operating Officer of Orrstown Financial Services, reports the disposal of 6,090 shares of restricted stock to cover tax obligations.
Summary
- On September 30, 2024, Craig L Kauffman, the EVP and Chief Operating Officer of Orrstown Financial Services Inc. (ORRF), disposed of 6,090 shares of Orrstown Financial Services, Inc. Common Restricted Stock.
- The transaction was executed to cover tax obligations at a price of $35.75 per share.
- Following the transaction, Kauffman directly owns 57,860 shares of Orrstown Financial Services, Inc. Common Stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing simply reports a routine transaction related to tax obligations.
Industry Context
Form 4 filings are standard disclosures required by the SEC when corporate insiders trade their company's stock. These filings are closely watched by investors for signals about a company's prospects.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 09/30/2024 | Date of stock disposal transaction |
| 10/02/2024 | Date of report signature |
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