Ronald L. Bowling - May 3, 2024 Form 4 Insider Report for Burke & Herbert Financial Services Corp. (BHRB)

Role: Bank Director
Signature: /s/ Kirtan Parikh, as Attorney-in-Fact for Ronald L. Bowling
Stock symbol: BHRB
Transactions as of: May 3, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/6/2024, 09:16 AM
Previous filing: Feb 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHRB	Common Stock	Award		+4.54K			4.54K	May 3, 2024	Direct	F1
transaction	BHRB	Preferred Stock	Award		+10			10	May 3, 2024	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of the Agreement and Plan of Reorganization (the "Merger Agreement"), dated as of August 24, 2023, by and between Burke & Herbert Financial Services Corp. ("Burke & Herbert") and Summit Financial Group, Inc. ("Summit"), on May 3, 2024 (the "Closing Date") Summit merged with and into Burke & Herbert (the "Merger"), with Burke & Herbert continuing as the surviving company of the Merger. Pursuant to the Merger Agreement, on the Closing Date each share of Summit common stock held by the reporting person was converted into the right to receive 0.5043 of a share of common stock of Burke & Herbert rounded down to the nearest whole number of shares. The closing price of Burke & Herbert's common stock on May 2, 2024, was $51.67 per share.
F2	Pursuant to the Merger Agreement, each share of Summit preferred stock held by the reporting person was converted into the right to receive one share of Burke & Herbert preferred stock.

Content

Pursuant to the terms of the Agreement and Plan of Reorganization (the "Merger Agreement"), dated as of August 24, 2023, by and between Burke & Herbert Financial Services Corp. ("Burke & Herbert") and Summit Financial Group, Inc. ("Summit"), on May 3, 2024 (the "Closing Date") Summit merged with and into Burke & Herbert (the "Merger"), with Burke & Herbert continuing as the surviving company of the Merger. Pursuant to the Merger Agreement, on the Closing Date each share of Summit common stock held by the reporting person was converted into the right to receive 0.5043 of a share of common stock of Burke & Herbert rounded down to the nearest whole number of shares. The closing price of Burke & Herbert's common stock on May 2, 2024, was $51.67 per share.

Pursuant to the Merger Agreement, each share of Summit preferred stock held by the reporting person was converted into the right to receive one share of Burke & Herbert preferred stock.