Burke & Herbert COO awarded shares and options
Burke & Herbert Financial Services Corp. EVP and Chief Operating Officer Carl D. Lundblad reported equity awards tied to the merger of LINKBANCORP, Inc. into Burke & Herbert effective May 1, 2026.
Rhea-AI Filing Summary
Burke & Herbert Financial Services Corp. EVP and Chief Operating Officer Carl D. Lundblad reported equity awards tied to the merger of LINKBANCORP, Inc. into Burke & Herbert effective May 1, 2026. Each LNKB share was converted into the right to receive 0.1350 shares of Burke & Herbert common stock.
Lundblad acquired 10,485 shares of common stock held directly and 1,710 shares held indirectly through an IRA. He also received warrants for 8,100 underlying common shares and stock options for 4,050 underlying common shares, both with a $74.0800 exercise price and expirations in 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 24,345 shares
Grant/Award
4 txns
Insider
LUNDBLAD CARL D
Role
EVP, Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options | 4,050 | $0.00 | $0.00 |
| Grant/Award | Warrants | 8,100 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 10,485 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 1,710 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Options — 4,050 contracts (Direct);
Warrants — 8,100 contracts (Direct);
Common Stock — 10,485 shares (Direct);
Common Stock — 1,710 shares (Indirect, By IRA)
Footnotes (4)
- F1. Pursuant to the Agreement and Plan of Merger dated December 18, 2025 (the "Merger Agreement") by and between LINKBANCORP, Inc. ("LNKB") and BHRB, effective May 1, 2026 (the "Closing Date") LNKB merged into BHRB (the "merger") with BHRB surviving. Pursuant to the Merger Agreement, each of the Reporting Person's 77,674 directly held shares of LNKB common stock outstanding at the Closing Date was converted into the right to receive 0.1350 shares of BHRB common stock, with cash to be received in lieu of fractional shares.
- F2. Pursuant to the Merger Agreement, each of the Reporting Person's 12,671 indirectly held shares of LNKB common stock outstanding at the Closing Date was converted into the right to receive 0.1350 shares of BHRB common stock, with cash to be received in lieu of fractional shares.
- F3. Pursuant to the Merger Agreement by and between LNKB and BHRB, effective as of the Closing Date, each of the Reporting Person's LNKB options outstanding at the Closing Date were converted into the right to receive an option of Burke & Herbert, subject to the same terms and conditions as applied to the corresponding LNKB Option immediately prior to the Closing Date, as adjusted pursuant to the Merger Agreement.
- F4. Pursuant to the Merger Agreement by and between LNKB and BHRB, effective as of the Closing Date, each of the Reporting Person's LNKB warrants outstanding at the Closing Date were converted into the right to receive a warrant of Burke & Herbert, subject to the same terms and conditions as applied to the corresponding LNKB Warrant immediately prior to the Closing Date, as adjusted pursuant to the Merger Agreement.
Key Figures
Direct common shares acquired: 10,485 shares
Indirect common shares via IRA: 1,710 shares
Warrants granted: 8,100 warrants
+5 more
8 metrics
Direct common shares acquired
10,485 shares
Common Stock grant/award on May 1, 2026
Indirect common shares via IRA
1,710 shares
Common Stock held indirectly by IRA on May 1, 2026
Warrants granted
8,100 warrants
Warrants for underlying common stock, exercise price $74.0800
Stock options granted
4,050 options
Stock options for underlying common stock, exercise price $74.0800
Derivative exercise price
$74.0800 per share
Exercise price for both options and warrants
Warrant expiration
January 3, 2029
Expiration date of the 8,100 warrants
Stock option expiration
June 14, 2029
Expiration date of the 4,050 stock options
LNKB direct shares converted
77,674 shares
Direct LNKB common shares converted at 0.1350 ratio
Key Terms
Agreement and Plan of Merger, warrants, stock options, indirectly held shares, +2 more
6 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger dated December 18, 2025"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
warrants financial
"each of the Reporting Person's LNKB warrants outstanding at the Closing Date were converted"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
stock options financial
"each of the Reporting Person's LNKB options outstanding at the Closing Date were converted"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
IRA financial
"nature_of_ownership": "By IRA""
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
closing date regulatory
"LNKB common stock outstanding at the Closing Date was converted"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did BHRB EVP Carl D. Lundblad report?
Carl D. Lundblad reported acquiring Burke & Herbert equity awards in connection with the LINKBANCORP merger. He received 10,485 common shares directly, 1,710 shares indirectly via an IRA, 8,100 warrants, and 4,050 stock options, all recorded as grant or award acquisitions at no cash price per share.
How did the LINKBANCORP merger affect Carl D. Lundblad’s holdings?
The merger converted Lundblad’s LINKBANCORP holdings into Burke & Herbert instruments. His 77,674 directly held LNKB shares and 12,671 indirectly held LNKB shares became rights to receive Burke & Herbert common stock at a 0.1350 exchange ratio, with cash paid instead of any resulting fractional shares.
What warrants and stock options did Carl D. Lundblad receive at BHRB?
Lundblad received warrants for 8,100 Burke & Herbert common shares and stock options for 4,050 shares. Both derivative awards carry a $74.0800 exercise price, with the warrants expiring on January 3, 2029 and the stock options expiring on June 14, 2029, continuing prior LNKB terms.
Were Carl D. Lundblad’s BHRB awards open-market purchases or compensation grants?
The awards are classified as grants or other acquisitions, not open-market purchases. All transactions use code A and are described as grant, award, or other acquisition, reflecting equity received through the merger’s conversion mechanics rather than discretionary buying or selling in the market.
What is the significance of the 0.1350 exchange ratio for BHRB and LNKB holders?
The 0.1350 exchange ratio defines how many Burke & Herbert shares LNKB shareholders receive. Each LNKB common share outstanding at the closing date was converted into the right to receive 0.1350 Burke & Herbert common shares, with any fractional share amounts settled in cash rather than stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
