[Form 4] ACNB CORP Insider Trading Activity

Rhea-AI Filing Summary

ACNB Corp director Elizabeth F. Carson acquired 175.6636 shares of ACNB Corporation common stock with an execution date of 09/15/2025 and a reported transaction date of 09/16/2025 at a price of $44.83 per share. After the reported acquisition, the filing shows beneficial ownership of 12,567.673 shares. The shares were received as director compensation under the companys director compensation plan and include shares purchased via automatic dividend reinvestment, which are exempt from Section 16 reporting. The Form 4 was signed by Kevin J. Hayes as power of attorney on 09/17/2025.

Positive

• Director received shares as compensation, aligning management incentives with shareholders
• Filing discloses total beneficial ownership of 12,567.673 shares after the transaction
• Transaction includes dividend reinvestment, reflecting use of the companys DRIP plan

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received compensation shares; ownership increases modestly and reflects non-cash director pay.

The transaction is a routine director compensation issuance, not an open-market buy. The report states 175.6636 shares were issued at $44.83 each as compensation, and total beneficial ownership post-transaction is 12,567.673 shares. Inclusion of dividend reinvestment shares is noted as exempt from Section 16 reporting. This is a non-cash acquisition that modestly increases insider alignment with shareholders but does not indicate active insider accumulation.

Corporate Governance Expert

TL;DR: Filing documents standard director compensation and compliance with reporting via POA signature.

The Form 4 discloses a compensation-based issuance and properly identifies the reporting person as a director. The explanatory footnotes clarify the shares derive from the director compensation plan and automatic dividend reinvestment, and the signature by a power of attorney on 09/17/2025 indicates compliance with execution and filing requirements. There are no unusual grant conditions or derivative instruments disclosed.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Carson Elizabeth F.

(Last) (First) (Middle)

16 LINCOLN SQUARE

(Street)

GETTYSBURG PA 17325

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACNB CORP [ ACNB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
ACNB Corporation Common	09/15/2025	09/16/2025(1)	A		175.6636(2)	A	$44.83	12,567.673(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The date of execution was determined in accordance with SEC Rule 16a-3(g)(2) and (g)(4).

2. The shares represent stock received as compensation for service as a director pursuant to a director compensation plan.

3. This amount includes shares of common stock purchased for the same transaction date through the automatic reinvestment of dividends under the ACNB Corporation Dividend Reinvestment and Stock Purchase Plan, which are exempt from the reporting requirements of Section 16 of the Securities Exchange Act of 1934.

Remarks:

	/s/ Kevin J. Hayes as POA for Elizabeth F. Carson	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Elizabeth F. Carson report on Form 4 for ACNB (ACNB)?

Carson reported an acquisition of 175.6636 shares of ACNB common stock executed 09/15/2025, reported 09/16/2025, at $44.83 per share.

How many ACNB shares does Elizabeth F. Carson beneficially own after the reported transaction?

12,567.673 shares of ACNB common stock are reported as beneficially owned following the transaction.

Were the shares received as a purchase or as compensation?

The shares were received as compensation for service as a director under the ACNB director compensation plan, per the filing.

Does the Form 4 include shares acquired through dividend reinvestment?

Yes. The filing states the total includes shares purchased via automatic reinvestment under ACNBs Dividend Reinvestment and Stock Purchase Plan, which are exempt from Section 16 reporting.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Kevin J. Hayes as power of attorney for Elizabeth F. Carson on 09/17/2025.