Franklin Financial (FRAF) director granted 383 restricted stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Franklin Financial Services Corp. director Stanley J. Kerlin reported an equity award of 383 shares of Common Stock. The award was made as restricted stock units under the company’s 2019 Omnibus Stock Incentive Plan, with each RSU representing a right to receive one share of Common Stock.
These RSUs are scheduled to vest at the earlier of March 1, 2027 or the end of Kerlin’s board term. After this grant, his reported direct holdings total 26,915 shares of Common Stock, which includes 69 shares acquired through the company’s 2010 Dividend Reinvestment and Stock Purchase Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Kerlin Stanley J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 383 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 26,915 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 69 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.
FAQ
What did Franklin Financial (FRAF) director Stanley J. Kerlin report on this Form 4?
Director Stanley J. Kerlin reported receiving an award of 383 shares of Common Stock as restricted stock units. The award was granted under Franklin Financial’s 2019 Omnibus Stock Incentive Plan and reflects a non-cash equity grant for board service.
How many Franklin Financial (FRAF) RSUs did the director receive and at what price?
Kerlin received 383 restricted stock units, each tied to one share of Common Stock, at a grant price of $0.00 per share. This indicates a compensatory equity award rather than an open-market purchase of Franklin Financial stock.
When do the Franklin Financial (FRAF) RSUs granted to the director vest?
The restricted stock units vest on the earlier of March 1, 2027 or the end of Stanley J. Kerlin’s board term. Vesting means the RSUs convert into actual shares of Common Stock deliverable to the director at that time.
Is this Franklin Financial (FRAF) Form 4 transaction a purchase or an equity award?
The transaction reflects an equity award, not a market purchase. It is coded as a grant or award acquisition, with 383 restricted stock units issued at $0.00 per share under the company’s 2019 Omnibus Stock Incentive Plan for director compensation.