Key facts
- This page summarizes Oscar M. Bean's Form 4 filing for SUMMIT FINANCIAL GROUP, INC..
- 4 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 03 May 2024, 12:11.
Oscar M. Bean - 03 May 2024 Form 4 Insider Report for SUMMIT FINANCIAL GROUP, INC.
- Reporting relationship
- Director, Chairman of the Board
- Issuer ticker
- N/A
- Reported as of
- 03 May 2024
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 03 May 2024, 12:11:02 UTC
- Prior SEC filing
- 02 May 2023
- Next SEC filing
- 19 Aug 2024
- Source filing
- View source filing
- Reporting owner signature
- /s/ Teresa D Ely, Lmtd POA, Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Oscar M. Bean filed Form 4 for SUMMIT FINANCIAL GROUP, INC. on 03 May 2024.
Change
- Previous filing in this sequence was filed on 02 May 2023.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
SMMF
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +2,067
- Change %
- +2.5%
- Price
- Shares after
- 85,401
- Date
- 03 May 2024
- Ownership
- Direct
- Footnotes
- F3
SMMF
transaction
Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -85,401
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 May 2024
- Ownership
- Direct
- Footnotes
- F2
SMMF
transaction
Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -23,344
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 May 2024
- Ownership
- By Spouse
- Footnotes
- F2
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
SMMF
transaction
Derivative
Phantom Stock
Options Exercise
- Transaction value
- Shares
- -2,067
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 May 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 2,067
- Exercise price
- Footnotes
- F1, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Oscar M. Bean is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 3 footnotes
Footnote F1
Shares of phantom stock are payable only in cash following termination of the reporting person's service as a director of Summit.
Footnote F2
Disposed of in accordance with the Agreement and Plan of Reorganization, dated as of August 24, 2023 the ("Merger Agreement"), by and between Summit Financial Group, Inc. ("Summit") and Burke & Herbert Financial Services Corp. ("Burke & Herbert") pursuant to which Summit was merged with and into Burke & Herbert effective May 3, 2024 ("the Merger"). At the effective time of the Merger, each issued and outstanding share of Summit common stock was converted into the right to receive 0.5043 shares of Burke &Herbert common stock (subject to the payment of cash in lieu of fractional shares) (the "Merger Consideration"). As a result of the Merger, the Reporting Person no longer beneficially owns, directly or indirectly, any shares of Summit common stock.
Footnote F3
Each share of phantom stock was the economic equivalent of one share of SMMF common stock. The reporting person settled his shares of phantom stock for cash. The price for the settlement of the phantom stock for cash is the market price of one share of SMMF common stock of $26.47