AmeriServ (NASDAQ: ASRV) CFO exercises stock options for 3,000 shares

Rhea-AI Filing Summary

AmeriServ Financial EVP & CFO Michael D. Lynch reported an option exercise involving company stock. On January 23, 2026, he exercised stock options to acquire 3,000 shares of common stock at $2.96 per share. Following this transaction, he beneficially owned 23,892 shares of AmeriServ common stock, some held jointly with his spouse, and 14,119 stock options remained outstanding. The filing reflects a routine equity compensation event rather than an open-market purchase or sale.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lynch Michael D

(Last) (First) (Middle)

216 FRANKLIN STREET

(Street)

JOHNSTOWN PA 15901

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERISERV FINANCIAL INC /PA/ [ ASRV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/23/2026

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
Common Stock	01/23/2026		M		3,000	A	$2.96	23,892(1)	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
Stock Option (Right to Buy)	$2.96	01/23/2026		M			3,000	04/11/2017(2)	04/11/2026	Common Stock	3,000	$2.96	14,119	D

Explanation of Responses:

1. These common shares are held jointly with Mr. Lynch's spouse.

2. These options vest in three equal annual installments beginning on April 11, 2017, subject to acceleration or forfeiture in certain specified circumstances.

	Sharon M. Callihan - Attorney-in-Fact	02/02/2026
	** 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).
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FAQ

What insider transaction did ASRV EVP & CFO Michael Lynch report?

Michael D. Lynch reported exercising stock options for 3,000 AmeriServ common shares at $2.96 per share. The transaction occurred on January 23, 2026 and reflects conversion of derivative options into directly held stock, not an open-market buy or sale.

How many AmeriServ (ASRV) shares does Michael Lynch own after this Form 4?

After exercising options, Michael D. Lynch beneficially owns 23,892 AmeriServ common shares. Some of these shares are held jointly with his spouse, as noted in the filing footnotes, which describe the nature of this joint ownership arrangement.

What stock options did ASRV executive Michael Lynch exercise?

He exercised 3,000 stock options with an exercise price of $2.96 per share. These options were originally granted to buy AmeriServ common stock and vested in three equal annual installments starting April 11, 2017, subject to certain acceleration or forfeiture conditions.

Does Michael Lynch still hold AmeriServ stock options after this transaction?

Yes. After exercising 3,000 options, Michael D. Lynch still holds 14,119 stock options. These remaining derivative securities continue to give him the right to purchase additional AmeriServ common shares under the terms and dates described in the original option grant.

Were Michael Lynch’s AmeriServ shares acquired jointly with a family member?

The filing states that certain AmeriServ common shares are held jointly with Michael Lynch’s spouse. This means both spouses share beneficial ownership of those specific shares, and this joint holding is explicitly disclosed in the Form 4 footnotes.

Was this ASRV Form 4 transaction an open-market stock sale?

No. The reported transaction is coded “M,” indicating an option exercise, not an open-market sale. Lynch converted 3,000 stock options into 3,000 AmeriServ common shares at the fixed exercise price of $2.96 per share under his equity award.