Form 4: Orrstown Financial Services EVP, Chief Risk Officer Acquires Shares

Robert G. Coradi, EVP and Chief Risk Officer of Orrstown Financial Services, reports acquisition of restricted stock units and restricted stock.

Summary

• Robert G. Coradi, the EVP and Chief Risk Officer of Orrstown Financial Services Inc. (ORRF), filed a Form 4 indicating changes in beneficial ownership.
• On February 16, 2025, Coradi acquired 2,737 shares of Orrstown Financial Services, Inc. Common, Rest. Stock. Unt. at $0.
• He also acquired 2,737 shares of Orrstown Financial Services, Inc. Common, Restricted Stock at $0 on the same date.
• Following these transactions, Coradi directly owns 10,034 shares of Orrstown Financial Services, Inc., Common, Rest. Stock. Unt., 12,737 shares of Restricted Stock, and 42,969 shares of Common Stock.
• The restricted stock units vest three years after the award date based on pre-established company performance criteria.
• The restricted stock has various vesting dates over the next 3 years.
• 18,167 shares are owned jointly with the reporting person's spouse.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating stock acquisitions, which can be seen as a positive sign but doesn't provide enough information to strongly influence sentiment.

Positives

• The acquisition of shares by a high-ranking officer could be interpreted as a sign of confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• Shareholders may view the insider's stock acquisition as a positive signal.

Key Dates