Thomas R. Quinn Jr - Jul 1, 2024 Form 4 Insider Report for ORRSTOWN FINANCIAL SERVICES INC (ORRF)

Role
President & CEO, Director
Signature
/s/ Casara I Kieffer as P.O.A.
Stock symbol
ORRF
Transactions as of
Jul 1, 2024
Transactions value $
-$153,271
Form type
4
Date filed
7/3/2024, 04:13 PM
Previous filing
Feb 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORRF Orrstown Financial Services, Inc. Common, Restricted Stock Tax liability -$153K -5.6K -100% $27.36 0 Jul 1, 2024 Direct
transaction ORRF Orrstown Financial Services, Inc. Common, Restricted Stock Award $0 +24K $0.00 24K Jul 1, 2024 Direct F1
holding ORRF Orrstown Financial Services, Inc, Common Stock 62.7K Jul 1, 2024 Direct F2
holding ORRF Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. 28.4K Jul 1, 2024 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents an award of shares of restricted stock of ORRF vesting on July 28, 2025 upon achievement of targeted expense savings based on ORRFs going forward annual expense run rate at June 30, 2025 compared to the combined reported expenses of ORRF and CVLY (excluding merger-related and other extraordinary expenses in both cases) for the year ended December 31, 2023.
F2 Includes 33,451 shares owned jointly with the reporting persons spouse
F3 Restricted stock units vesting three years after the date of the award based on pre-established company performance criteria.