Form 4: Orrstown Financial Services Executive Reports Stock Transactions
SEC Form 4 Filing
David Todd Hornberger, EVP at Orrstown Financial Services, reports acquisition and disposal of company stock and restricted stock units.
Summary
- David Todd Hornberger, an EVP at Orrstown Financial Services Inc. (ORRF), filed a Form 4 detailing changes in beneficial ownership.
- On February 16, 2025, Hornberger disposed of 1,037 shares of common stock at $33.64 per share to cover taxes.
- He also acquired 2,682 restricted stock units and 2,683 shares of restricted stock at $0.
- Following these transactions, Hornberger directly owns 9,355 restricted stock units, 9,350 shares of restricted stock, and 23,239 shares of common stock.
- He also indirectly owns 6,952 shares jointly with his spouse.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and potential alignment with shareholder interests.
Stakeholder Impact
- Shareholders may be interested in the trading activity of company executives as it can provide insights into their confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 02/16/2025 | Date of stock transactions (disposal and acquisition of shares and restricted stock units). |
| 02/19/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Orrstown Financial Services, ORRF, Hornberger, Executive Compensation
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