ACNB Corp (ACNB) vice chair awarded additional common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Herring Todd L reported acquisition or exercise transactions in this Form 4 filing.
ACNB CORP director Todd L. Herring received a stock grant of 296.2085 shares of ACNB Corporation Common at $46.42 per share as compensation for service on the board. This award was made under a director compensation plan and is not an open-market purchase.
After the grant, he holds 10,657.2524 shares directly, plus indirect holdings of 1,170.0707 shares through a trust and 1,052 shares held by his spouse, reflecting a routine equity-based compensation event for a board member.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Herring Todd L
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | ACNB Corporation Common | 296.209 | $46.42 | $14K |
| holding | ACNB Corporation Common | -- | -- | -- |
| holding | ACNB Corporation Common | -- | -- | -- |
Holdings After Transaction:
ACNB Corporation Common — 10,657.252 shares (Direct);
ACNB Corporation Common — 1,170.071 shares (Indirect, Trust)
Footnotes (1)
- The date of execution was determined in accordance with SEC Rule 16a-3(g)(2) and (g)(4). The shares represent stock received as compensation for service as a director pursuant to a director compensation plan. 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.
FAQ
What insider transaction did ACNB (ACNB) director Todd L. Herring report?
Todd L. Herring reported receiving a grant of 296.2085 ACNB Corporation Common shares at $46.42 per share. The award was issued as stock compensation for his service as a director under a director compensation plan, rather than through an open-market purchase.
Was the ACNB (ACNB) insider grant to Todd L. Herring an open-market stock purchase?
No, the 296.2085-share transaction was a stock grant, not an open-market purchase. Footnotes state the shares were received as compensation for board service under a director compensation plan, distinguishing it from discretionary buying in the market by the director.
What do the footnotes in Todd L. Herring’s ACNB (ACNB) Form 4 explain?
The footnotes explain the execution date determination under SEC Rule 16a-3 and state the shares were received as director compensation. They also note that the reported amount includes shares acquired via automatic dividend reinvestment, which are exempt from standard Section 16 reporting requirements.
How is dividend reinvestment reflected in Todd L. Herring’s ACNB (ACNB) holdings?
One footnote states the reported amount includes shares bought through automatic dividend reinvestment under ACNB Corporation’s Dividend Reinvestment and Stock Purchase Plan. These reinvested shares are exempt from Section 16 reporting but are still included in the post-transaction share totals disclosed.