Franklin Financial Services (FRAF) EVP uses cashless exercise of 2,500 options
Rhea-AI Filing Summary
Franklin Financial Services Corp. reported that EVP and Chief Risk Officer Lorie M. Heckman exercised 2,500 stock options for common stock on July 29, 2026 through a cashless exercise. 1,333 shares were withheld at $63.99 per share to fund the $34.10-per-share exercise price, and reported totals include 36 dividend reinvestment shares and previously reported unvested restricted stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,167 shares
Net Buy
2 txns
Insider
Heckman Lorie M.
Role
EVP, Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Stock F1, F2, F3 | 2,500 | $34.10 | $85K |
| Exercise Price Payment | Common Stock F1, F3 | 1,333 | $63.99 | $85K |
Holdings After Transaction:
Common Stock — 8,353 shares (Direct)
Footnotes (3)
- F1. Reflects shares withheld by issuer at the market price of $63.99 per share less an exercise price of $34.10 per share to fund the cashless exercise of 2,500 options owned by the reporting person pursuant to the issuer's 2013 Incentive Stock Option Plan.
- F2. Total shares includes 36 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.
- F3. Includes previously reported unvested restricted stock units.
Key Figures
Stock options exercised: 2,500 options
Shares withheld for exercise cost: 1,333 shares
Market price used for withholding: $63.99 per share
+2 more
5 metrics
Stock options exercised
2,500 options
Cashless exercise of options on 2026-07-29 by EVP Lorie M. Heckman
Shares withheld for exercise cost
1,333 shares
Shares withheld by issuer to fund the cashless exercise of 2,500 options
Market price used for withholding
$63.99 per share
Market price applied to shares withheld in the cashless exercise
Option exercise price
$34.10 per share
Exercise price per share for the 2,500 options exercised
Dividend reinvestment shares
36 shares
Shares acquired under the 2010 Dividend Reinvestment and Stock Purchase Plan included in totals
Key Terms
cashless exercise, Dividend Reinvestment and Stock Purchase Plan, restricted stock units, Incentive Stock Option Plan
4 terms
cashless exercise financial
"to fund the cashless exercise of 2,500 options owned by the reporting person"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
Dividend Reinvestment and Stock Purchase Plan financial
"shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan"
A dividend reinvestment and stock purchase plan lets investors automatically use cash dividends to buy additional shares and often make extra share purchases directly from the company, usually at low or no commission. Think of it as an automatic savings plan for stock: dividends and optional contributions are turned into more shares, helping ownership grow through compounding and making regular investing simple and low-cost—key for long-term investors.
restricted stock units financial
"Includes previously reported unvested restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Incentive Stock Option Plan financial
"pursuant to the issuer's 2013 Incentive Stock Option Plan"
A plan that gives employees the right to buy company shares at a fixed price after a vesting period, often with special tax treatment if the shares are held long enough. For investors it matters because these options can motivate and retain staff by tying pay to company performance, but they also increase the number of shares outstanding over time and can dilute existing shareholders and affect reported earnings — think of them as employee coupons for future ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Franklin Financial Services (FRAF) disclose?
Franklin Financial Services disclosed that EVP and Chief Risk Officer Lorie M. Heckman exercised 2,500 stock options for common stock via a cashless exercise on July 29, 2026. The filing reports both acquired shares and shares withheld to fund the exercise price.
How many Franklin Financial (FRAF) options did Lorie Heckman exercise and how were they settled?
Lorie M. Heckman exercised 2,500 options through a cashless exercise. As part of this, 1,333 shares of common stock were withheld by the issuer to fund the exercise cost, rather than paying the exercise price in cash.
At what prices were the Franklin Financial (FRAF) options exercised and valued?
The withheld shares were valued at a market price of $63.99 per share, compared with an option exercise price of $34.10 per share. These figures come from the footnote describing the cashless exercise mechanics.
Were the Franklin Financial (FRAF) insider transactions under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan (the box is unchecked), and the footnotes do not reference any Rule 10b5-1 or pre-arranged trading arrangement for these transactions.
What additional holdings are mentioned in the FRAF Form 4 footnotes?
One footnote states that the total share figure includes 36 shares acquired under the 2010 Dividend Reinvestment and Stock Purchase Plan. Another notes that the reported total also includes previously reported unvested restricted stock units.