Bradford Ritchie (BHRB) awarded 1,790 restricted stock units in equity grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Ritchie Bradford E reported acquisition or exercise transactions in this Form 4 filing.
Burke & Herbert Financial Services Corp. executive Bradford E. Ritchie, EVP and Chief Lending Officer, received an equity award of 1,790 restricted stock units of common stock. The award was granted at no cash purchase price and represents additional compensation rather than an open-market share purchase.
According to the award terms, the 1,790 time-based restricted stock units will vest in three equal annual installments, as long as Ritchie remains employed through each vesting date. After this grant, his directly held common stock holdings reported in this filing total 23,737 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Ritchie Bradford E
Role
EVP, Chief Lending Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,790 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 23,737 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did BHRB executive Bradford Ritchie report on this Form 4?
Bradford E. Ritchie reported receiving an award of 1,790 restricted stock units of Burke & Herbert Financial Services Corp. common stock. This is a stock-based compensation grant, not an open-market purchase, and it increases his reported direct holdings to 23,737 common shares.
How do the 1,790 BHRB restricted stock units granted to Bradford Ritchie vest?
The 1,790 time-based restricted stock units vest in three equal annual installments. Vesting is conditioned on Bradford Ritchie’s continued employment with Burke & Herbert Financial Services Corp. through each vesting date, aligning his compensation with longer-term service at the company.
What will each restricted stock unit become for BHRB executive Bradford Ritchie?
Each restricted stock unit awarded to Bradford Ritchie will be settled in one share of Burke & Herbert Financial Services Corp. common stock. Settlement occurs as the units vest over time, effectively converting the RSUs into actual shares as employment-based vesting conditions are met.