SCHEDULE: Vanguard Group Reports Zero Orrstown Financial Stake

The Vanguard Group has reported zero beneficial ownership in Orrstown Financial Services Inc. following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 1 to Schedule 13G for Orrstown Financial Services Inc. common stock.
• As of the filing, The Vanguard Group reports 0% beneficial ownership of Orrstown Financial Services Inc. common stock, with zero sole or shared voting and dispositive power.
• This change is attributed to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these newly disaggregated subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event for Orrstown Financial Services Inc., primarily reflecting an internal organizational change at The Vanguard Group rather than a direct investment decision regarding Orrstown's fundamentals.

Future Outlook

The filing indicates that certain Vanguard subsidiaries and business divisions will now report their beneficial ownership separately, suggesting a continued, albeit disaggregated, investment presence in the market by Vanguard's various entities.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment.
• Certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

Industry Context

StockSavvy.ai notes that such internal realignments and disaggregated reporting are common among large asset managers like Vanguard, often driven by operational efficiencies, regulatory compliance, or strategic shifts in fund management structures. This move aligns with broader industry trends towards greater transparency in institutional holdings at a more granular level, potentially impacting how aggregate institutional ownership data is perceived for companies like Orrstown Financial Services Inc.

Stakeholder Impact

• Shareholders (Orrstown Financial Services Inc.): May see a shift in reported institutional ownership data as Vanguard's aggregate stake is disaggregated, but underlying investment by Vanguard's various funds may persist under different reporting entities.
• Investment Professionals: Will need to track beneficial ownership of Orrstown Financial Services Inc. through Vanguard's newly disaggregated reporting entities rather than solely through The Vanguard Group, Inc.

Next Steps

• Certain Vanguard subsidiaries or business divisions will report their beneficial ownership separately.

Key Dates

Keywords

Vanguard Group, Orrstown Financial Services, Schedule 13G, Beneficial Ownership, Investment Adviser, SEC Filing, Common Stock, Institutional Ownership