Director Martin R. Brown receives 383 RSUs in Franklin Financial (NASDAQ: FRAF)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
FRANKLIN FINANCIAL SERVICES CORP director Martin R. Brown reported an acquisition of 383 shares of Common Stock through a grant of restricted stock units, with no cash price per share. These RSUs vest on the earlier of March 1, 2027 or the end of his term. After this award, his directly held total is 9,695 shares, including 11 shares obtained through the company’s dividend reinvestment and stock purchase plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Brown Martin R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 383 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 9,695 shares (Direct)
Footnotes (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 will vest the earlier of March 1, 2027 or end of term. Total shares includes 11 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.
FAQ
What did Martin R. Brown report in this Form 4 for FRAF?
Martin R. Brown reported receiving 383 shares of Franklin Financial Services Common Stock through a restricted stock unit grant. This award increased his direct holdings to 9,695 shares, reflecting equity-based compensation rather than an open-market stock purchase for cash.
Was the FRAF insider transaction a stock purchase or an equity award?
The FRAF insider transaction was an equity award, not a market purchase. Brown received 383 restricted stock units at a reported price of $0.0000 per share, consistent with compensation grants that carry a right to receive shares upon vesting instead of immediate cash payment.
When do Martin R. Brown’s FRAF restricted stock units vest?
Brown’s restricted stock units vest on the earlier of March 1, 2027 or the end of his term. At vesting, each RSU represents a contingent right to receive one share of Franklin Financial Services Common Stock, aligning his compensation with long-term service.
What plan governed the FRAF restricted stock unit grant to Martin R. Brown?
The restricted stock unit grant to Brown was made under Franklin Financial Services’ 2019 Omnibus Stock Incentive Plan. Under this plan, each RSU represents a contingent right to receive one share of Common Stock, vesting based on continued service through the specified date or term end.