[Form 4] CB Financial Services, Inc. (PA) Insider Trading Activity

Rhea-AI Filing Summary

CB Financial Services (CBFV) – Form 4 Insider Transaction

On 25 Feb 2025, Senior Vice President & Chief Financial Officer Amanda L. Engles filed a Form 4 showing a Code “F” transaction: 22 common shares were withheld at $27.7653 per share to cover tax liabilities tied to previously granted restricted stock. The total market value involved is roughly $612, an amount that is immaterial to the company’s float or trading volume.

After the withholding, Engles’ direct ownership stands at 783 common shares. She also disclosed 2,210 stock options with a $22.12 strike price that vest 20% annually starting 16 Feb 2025 and expire in 2034, plus additional restricted shares vesting in equal 20% tranches beginning in 2025 and 2026.

No open-market purchase or sale was made, and there is no indication of a change in insider sentiment. The filing is routine and has negligible financial impact on CB Financial Services.

Insights

Financial Analyst

TL;DR – Routine tax-withholding filing; dollar value negligible; no fundamental impact.

The Code F transaction merely reflects share withholding to satisfy tax on vesting restricted stock. Only 22 shares (≈$0.6k) were involved, leaving the CFO with 783 shares plus 2,210 options. Such a small, non-open-market event offers no meaningful signal on insider conviction or forthcoming performance. I therefore view the disclosure as administratively necessary but financially neutral for investors.

Corporate Governance Expert

TL;DR – Compliance-driven Form 4; maintains alignment, no governance red flags.

Engles remains properly aligned via equity incentives: restricted shares vest over multiple years and options extend to 2034. The withholding of 22 shares is standard practice to settle taxes and does not constitute insider selling. The filing demonstrates adherence to Section 16 requirements and poses no governance concerns.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Engles Amanda L

(Last) (First) (Middle)

100 N. MARKET STREET

(Street)

CARMICHAELS PA 15320

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CB Financial Services, Inc. [ CBFV ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2025

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	02/25/2025		F		22	D	$27.7653	783(1)(2)	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 Options	$22.12							02/16/2025	02/16/2034	Common Stock	2,210(3)		2,210(3)	D

Explanation of Responses:

1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on February 16, 2025.

2. Includes shares of restricted stock which vest at a rate of 20% per year commencing on February 16, 2026.

3. Stock option vest at a rate of 20% per year commencing on February 16, 2025.

	/s/ Matthew Lawrence, pursuant to power of attorney	07/10/2025
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did CBFV’s CFO report in the latest Form 4?

Amanda L. Engles reported a Code F transaction where 22 common shares were withheld to cover tax obligations.

At what price were the CBFV shares withheld?

The shares were valued at $27.7653 each for tax-withholding purposes.

How many CBFV shares does the CFO own after the transaction?

Following the withholding, Engles directly owns 783 CBFV common shares.

Did the Form 4 show insider buying or selling on the open market?

No. The event was a tax-withholding transaction; there was no open-market purchase or sale.

What derivative holdings were disclosed in the filing?

Engles holds 2,210 stock options with a $22.12 strike price, vesting 20% per year from 16 Feb 2025 and expiring in 2034.

Is the reported transaction material to CBFV investors?

Given the small value (≈$612), the filing is considered immaterial and does not affect the investment thesis.