Burke & Herbert risk chief acquires 160 shares
The purchase price equaled 85% of the February 27, 2026 closing price, selected as the lower of the plan period's start-date and end-date closing prices.
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Form Type
4
Rhea-AI Filing Summary
Burke & Herbert Financial Services Corp. EVP, Chief Risk Officer Jennifer Palmer Schmidt acquired 160 shares of common stock on August 31, 2026, through the Employee Stock Purchase Plan at $54.77 per share. Her direct holdings after the transaction were 4,592 shares. No Rule 10b5-1 plan is reported.
Insider Trade Summary
Grant/Award: 160 shares
Grant/Award
1 txn
Insider
Schmidt Jennifer Palmer
Role
EVP, Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 160 | $54.77 | $9K |
Holdings After Transaction:
Common Stock — 4,592 shares (Direct)
Footnotes (1)
- F1. Shares purchased pursuant to the Burke & Herbert Financial Services Corp. 2023 Employee Stock Purchase Plan ("ESPP"), for the ESPP purchase period of March 1, 2026, through August 31, 2026. In accordance with the ESPP, these shares were purchased at a price equal to 85% of the closing price of the issuer's common stock on February 27, 2026, which was the lower of the closing price on the (i) start date or (ii) the end date of the applicable purchase period. Because the start date commenced on a non-trading date, the closing price on the immediately preceding trading date was used. These shares were acquired under the ESPP in transactions exempted by Rule 16b-3(c) and Rule 16b-3(d).
Key Figures
Shares acquired: 160 shares
Price per share: $54.77 per share
Direct holdings after transaction: 4,592 shares
+1 more
4 metrics
Shares acquired
160 shares
Common stock acquired August 31, 2026, through the Employee Stock Purchase Plan
Price per share
$54.77 per share
Employee Stock Purchase Plan acquisition on August 31, 2026
Direct holdings after transaction
4,592 shares
Jennifer Palmer Schmidt's common stock holdings
Employee Stock Purchase Plan pricing percentage
85%
Of the applicable closing price
Key Terms
Employee Stock Purchase Plan, Rule 16b-3(c), Rule 16b-3(d)
3 terms
Employee Stock Purchase Plan financial
"pursuant to the Burke & Herbert Financial Services Corp. 2023 Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
Rule 16b-3(c) regulatory
"transactions exempted by Rule 16b-3(c)"
An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.
Rule 16b-3(d) regulatory
"transactions exempted by Rule 16b-3(d)"
Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How was the BHRB Employee Stock Purchase Plan price determined?
The shares were priced at 85% of the closing price on February 27, 2026, which was the lower of the closing prices on the start and end dates of the March 1, 2026, through August 31, 2026, purchase period. Because the period began on a non-trading date, the immediately preceding trading day's closing price was used.
AI-generated analysis. How Rhea-AI works. Not financial advice.
