Burke & Herbert president exercises awards, withholds shares
Burke & Herbert Financial Services Corp. president and director Charles Maddy III reported equity award activity in company stock.
Rhea-AI Filing Summary
Burke & Herbert Financial Services Corp. president and director Charles Maddy III reported equity award activity in company stock. On June 29, 2026, he exercised Stock Settled Appreciation Rights for 14,823 shares at $52.29 per share and 7,901 shares at $51.58 per share, receiving common stock.
To cover related obligations, 18,354 common shares were disposed of at $71.44 per share as a tax-withholding transaction rather than an open-market sale. Following these transactions, he directly holds 51,012 common shares, with additional indirect holdings of 16,884 shares in an IRA and 19,592 shares held by his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
22,724 shares exercised/converted
Exercise
7 txns
Insider
MADDY H CHARLES III
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Settled Appreciation Rights | 7,901 | $0.00 | $0.00 |
| Exercise | Stock Settled Appreciation Rights | 14,823 | $0.00 | $0.00 |
| Exercise | Common Stock | 7,901 | $51.58 | $408K |
| Exercise | Common Stock | 14,823 | $52.29 | $775K |
| Exercise Price or Tax Liability | Common Stock | 18,354 | $71.44 | $1.31M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Settled Appreciation Rights — 0 contracts (Direct);
Common Stock — 51,012 shares (Direct);
Common Stock — 19,592 shares (Indirect, By Spouse);
Common Stock — 16,884 shares (Indirect, By IRA)
Key Figures
Shares from SAR exercises: 22,724 shares
First SAR strike price: $52.29/share
Second SAR strike price: $51.58/share
+5 more
8 metrics
Shares from SAR exercises
22,724 shares
Common stock from Stock Settled Appreciation Rights on June 29, 2026
First SAR strike price
$52.29/share
14,823 Stock Settled Appreciation Rights exercised into common stock
Second SAR strike price
$51.58/share
7,901 Stock Settled Appreciation Rights exercised into common stock
Tax-withholding shares
18,354 shares
Common stock disposed at $71.44/share for tax withholding
Tax-withholding price
$71.44/share
Price for 18,354 common shares used to cover obligations
Direct holdings after transactions
51,012 shares
Direct Burke & Herbert common stock owned by Charles Maddy
IRA indirect holdings
16,884 shares
Common stock held indirectly through an IRA
Spouse indirect holdings
19,592 shares
Common stock held indirectly by spouse
Key Terms
Stock Settled Appreciation Rights, tax-withholding disposition, derivative security
3 terms
Stock Settled Appreciation Rights financial
"security_title": "Stock Settled Appreciation Rights""
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did BHRB president Charles Maddy report?
Charles Maddy reported exercising stock-settled appreciation rights into Burke & Herbert common stock and a related tax-withholding share disposition. The filing shows non-open-market activity tied to equity compensation rather than discretionary buying or selling in the open market.
What indirect BHRB holdings are reported for Charles Maddy and his family?
The filing shows 16,884 Burke & Herbert common shares held indirectly through an IRA and 19,592 shares held indirectly by his spouse. These positions are reported as indirect ownership interests separate from his 51,012 directly held common shares.
Were any open-market purchases or sales of BHRB stock reported?
The transactions disclosed consist of derivative exercises and a tax-withholding share disposition, not open-market purchases or sales. The tax-withholding entry reflects shares delivered to satisfy obligations tied to equity awards rather than discretionary trading in Burke & Herbert stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
