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Franklin Financial (FRAF) EVP awarded shares and has stock withheld for taxes

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Form Type
4

Rhea-AI Filing Summary

Franklin Financial Services Corp. executive vice president and chief credit services officer Steven D. Butz reported equity compensation and a related tax withholding transaction. He received an award tied to 794 shares of Common Stock at a stated price of $0.0000 per share, under the issuer's 2019 Omnibus Stock Incentive Plan. Footnote disclosure explains these are restricted stock units that convert into one share of Common Stock each, vesting in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029, subject to continued service. In a separate transaction, 386 shares of Common Stock at $51.4800 per share were withheld by the company to cover his income tax obligations from the vesting of previously granted restricted stock units. After these transactions, he directly owned 7,010 shares of Common Stock and held incentive stock options representing 2,700 shares.

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Insider Butz Steven D
Role EVP, CCSO
Type Security Shares Price Value
Grant/Award Common Stock 794 $0.00 --
Tax Withholding Common Stock 386 $51.48 $20K
holding Incentive Stock Option (Right to Buy) -- -- --
holding Incentive Stock Option (Right to Buy) -- -- --
Holdings After Transaction: Common Stock — 7,396 shares (Direct); Incentive Stock Option (Right to Buy) — 2,700 shares (Direct)
Footnotes (1)
  1. Pursuant to the issuer's 2019 Omnibus Stock Incentive Plan, the reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. RSUs vest in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029, subject to continued service. Represents shares of Common Stock withheld by the issuer to satisfy the reporting person's income tax obligations associated with the vesting of previously reported grants of restricted stock units.
Form 4 Insider Transactions: What Each Field Means →
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*
Butz Steven D
(Last) (First) (Middle)
1500 NITTERHOUSE DRIVE
(Street)
CHAMBERSBURG PA 17201
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
FRANKLIN FINANCIAL SERVICES CORP /PA/ [ FRAF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, CCSO
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026
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 03/02/2026 A 794(1) A $0 7,396 D
Common Stock 03/02/2026 F 386(2) D $51.48 7,010 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
Incentive Stock Option (Right to Buy) $30 08/23/2017 02/23/2027 Common Stock 2,700 2,700 D
Incentive Stock Option (Right to Buy) $34.1 08/22/2018 02/22/2028 Common Stock 2,700 2,700 D
Explanation of Responses:
1. Pursuant to the issuer's 2019 Omnibus Stock Incentive Plan, the reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. RSUs vest in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029, subject to continued service.
2. Represents shares of Common Stock withheld by the issuer to satisfy the reporting person's income tax obligations associated with the vesting of previously reported grants of restricted stock units.
/s/Amanda M. Ducey by Power of Attorney for Steven D. Butz 03/03/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Franklin Financial (FRAF) executive Steven D. Butz report in this Form 4?

Steven D. Butz reported an equity award linked to 794 shares of Common Stock and a withholding of 386 shares for taxes. These moves reflect routine compensation and tax-settlement activity rather than open-market buying or selling.

How many Franklin Financial (FRAF) shares were granted to Steven D. Butz?

The filing shows an award associated with 794 shares of Franklin Financial Common Stock at a stated price of $0.0000 per share. Footnotes clarify this represents restricted stock units that convert into common shares as they vest over time.

Why were 386 Franklin Financial (FRAF) shares withheld from Steven D. Butz?

The company withheld 386 shares of Common Stock at $51.4800 per share to satisfy Steven D. Butz’s income tax obligations. These obligations arose from the vesting of previously reported restricted stock unit grants, according to the footnote disclosure.

What is the vesting schedule for Steven D. Butz’s new Franklin Financial (FRAF) RSUs?

The restricted stock units vest in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029. Each RSU represents a contingent right to receive one share of Franklin Financial Common Stock, subject to continued service.

How many Franklin Financial (FRAF) shares does Steven D. Butz own after these transactions?

After the reported transactions, Steven D. Butz directly owned 7,010 shares of Franklin Financial Common Stock. He also held incentive stock options covering 2,700 shares, reflecting both current ownership and additional potential share rights.

Are Steven D. Butz’s Franklin Financial (FRAF) transactions open-market buys or sells?

The reported transactions are not open-market trades. One is a grant or award acquisition tied to restricted stock units, while the other is a tax-withholding disposition in which the issuer withheld shares to cover income tax obligations on prior RSU vesting.