Form 4: Orrstown Financial Services Executive Chad M. Clabaugh Reports Stock Transactions
SEC Form 4 Filing
Chad M. Clabaugh, Chief Consumer Banking Officer of Orrstown Financial Services, reports the disposition of restricted stock to cover tax obligations.
Summary
- Chad M. Clabaugh, Chief Consumer Banking Officer of Orrstown Financial Services Inc. (ORRF), filed a Form 4 on January 3, 2025, reporting changes in beneficial ownership.
- The report details the disposition of 3,253 shares of restricted stock on January 1, 2025, to cover tax obligations at a price of $36.61 per share.
- Following the transaction, Clabaugh directly owns 3,414 shares of Orrstown Financial Services, Inc. restricted stock and 7,890 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/01/2025 | Date of transaction involving restricted stock. |
| 01/03/2025 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.