Franklin Financial (FRAF) HR chief exercises 4,500 options, 2,255 shares withheld
Rhea-AI Filing Summary
Franklin Financial Services Corp. executive Karen K. Carmack, SVP and Chief HR Officer, exercised stock options and conducted related share withholdings on July 29, 2026. She exercised options for a total of 4,500 shares of common stock, including 2,250 options at an exercise price of $30.00 per share and 2,250 options at $34.10 per share under the 2013 Incentive Stock Option Plan. To fund these cashless exercises, a total of 2,255 shares of common stock were withheld by the issuer at a market price of $63.99 per share, as reflected in two separate withholding transactions of 1,055 and 1,200 shares. The transactions were not reported as being effected under a Rule 10b5-1 trading plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 2,245 shares
Net Buy
6 txns
Insider
Carmack Karen K
Role
SVP, Chief HR Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Incentive Stock Option (Right to Buy) | 2,250 | $0.00 | $0.00 |
| Exercise | Incentive Stock Option (Right to Buy) | 2,250 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 2,250 | $30.00 | $68K |
| Exercise Price Payment | Common Stock F1, F2 | 1,055 | $63.99 | $68K |
| Exercise | Common Stock F3, F2 | 2,250 | $34.10 | $77K |
| Exercise Price Payment | Common Stock F3, F2 | 1,200 | $63.99 | $77K |
Holdings After Transaction:
Incentive Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock — 7,727 shares (Direct)
Footnotes (3)
- F1. Reflects shares withheld by issuer at the market price of $63.99 per share less an exercise price of $30.00 per share to fund the cashless exercise of 2,250 options owned by the reporting person pursuant to the issuer's 2013 Incentive Stock Option Plan.
- F2. Includes previously reported unvested restricted stock units.
- F3. 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 2,250 options owned by the reporting person pursuant to the issuer's 2013 Incentive Stock Option Plan.
Key Figures
Options Exercised: 4,500 shares
Exercise Price Tranche 1: $30.00 per share
Exercise Price Tranche 2: $34.10 per share
+4 more
7 metrics
Options Exercised
4,500 shares
Total incentive stock options exercised into common stock on July 29, 2026
Exercise Price Tranche 1
$30.00 per share
2,250 incentive stock options granted in 2017, expiring 2027-02-23
Exercise Price Tranche 2
$34.10 per share
2,250 incentive stock options granted in 2018, expiring 2028-02-22
Shares Withheld (Tranche 1)
1,055 shares
Common shares withheld at $63.99 to fund exercise of $30.00 options
Shares Withheld (Tranche 2)
1,200 shares
Common shares withheld at $63.99 to fund exercise of $34.10 options
Total Shares Withheld
2,255 shares
Total shares used for exercise price or tax liability per transaction summary
Market Price Used
$63.99 per share
Market price applied to issuer share withholdings for cashless exercises
Key Terms
Incentive Stock Option, cashless exercise, exercise price, restricted stock units
4 terms
Incentive Stock Option financial
"Incentive Stock Option (Right to Buy)"
An incentive stock option is a type of employee benefit that gives a worker the right to buy company shares at a fixed price, with special tax advantages if the employee holds the shares for a required period. Think of it as a coupon to buy future shares at today’s price that can result in lower tax on the gain. Investors care because ISOs can dilute share count, align staff incentives with the stock price, and affect company compensation costs and the timing of potential share sales.
cashless exercise financial
"to fund the cashless exercise of 2,250 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.
exercise price financial
"less an exercise price of $30.00 per share to fund the cashless exercise"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Karen K. Carmack report in this Form 4 for FRAF?
Karen K. Carmack reported exercising stock options for 4,500 shares of Franklin Financial Services Corp. common stock and related issuer share withholdings to fund the option exercises, all dated July 29, 2026.
How many Franklin Financial Services (FRAF) options did Karen Carmack exercise?
She exercised 4,500 incentive stock options for Franklin Financial Services Corp. common stock, consisting of 2,250 options at $30.00 per share and 2,250 options at $34.10 per share.
What were the exercise prices in Karen Carmack’s FRAF option exercises?
The options were exercised at two strike levels: $30.00 per share for 2,250 options granted in 2017 and $34.10 per share for 2,250 options granted in 2018, both converting into common stock.
Was Karen Carmack’s FRAF Form 4 under a Rule 10b5-1 plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox was not selected, so the reported transactions were not affirmed as being executed under a pre-arranged 10b5-1 trading plan.
Which role does Karen K. Carmack hold at Franklin Financial Services (FRAF)?
Karen K. Carmack is reported as an officer of Franklin Financial Services Corp., serving as SVP, Chief HR Officer, and filed this Form 4 in that capacity.