[Form 4] Franklin Financial Services Corporation Insider Trading Activity

Rhea-AI Filing Summary

Franklin Financial Services (FRAF) Form 4: SVP & Chief HR Officer Karen K. Carmack exercised 2,250 incentive stock options at an exercise price of $21.27 on 07/25/2025 (Transaction Code M). To satisfy tax withholding, 1,118 shares were simultaneously surrendered to the issuer at $42.83 (Code F).

Net result: Carmack’s direct common-stock holding increased by 1,132 shares to 5,049. The 2016 option grant is now fully exhausted; she continues to hold 2,250 options at $30 (exp. 02/23/2027) and 2,250 options at $34.10 (exp. 02/22/2028).

Based on quoted prices, the gross exercise value approximates $96k and the share withholding about $48k. The transaction appears to be a routine, incentive-plan exercise with a modest net share accumulation, offering limited insight into broader corporate fundamentals.

Insights

Securities Analyst

TL;DR: Routine option exercise; officer adds 1,132 shares—financially immaterial to FRAF.

The filing shows a standard cashless exercise of 2016 options. Although the officer retains more equity, the dollar amount (<$100k gross) is negligible versus Franklin Financial’s market capitalization and trading volume. No open-market purchase occurred, so the action offers limited signalling power. I view the impact on valuation, liquidity or capital structure as neutral.

Corporate Governance Expert

TL;DR: Adds alignment but no red flags; governance impact minimal.

Insider used an established plan and increased direct ownership, which marginally aligns interests with shareholders. Execution by power of attorney is normal. Absence of market sales or 10b5-1 plan suggests no immediate liquidity concern. No governance issues detected; therefore the disclosure is considered routine.

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).

1. Name and Address of Reporting Person^*

Carmack Karen K

(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)
	SVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025

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	07/25/2025		M		2,250(1)	A	$21.27	6,167(2)	D
Common Stock	07/25/2025		F		1,118(1)	D	$42.83	5,049(2)	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)	$21.27	07/25/2025		M			2,250	08/25/2016	02/25/2026	Common Stock	2,250	$0	0	D
Incentive Stock Option (Right to Buy)	$30							08/23/2017	02/23/2027	Common Stock	2,250		2,250	D
Incentive Stock Option (Right to Buy)	$34.1							08/22/2018	02/22/2028	Common Stock	2,250		2,250	D

Explanation of Responses:

1. Reflects shares withheld by issuer at the market price of $42.83 per share less an exercise price of $21.27 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.

2. Includes previously reported unvested restricted stock units.

	/s/Amanda M. Ducey by Power of Attorney for Karen K. Carmack	07/28/2025
	** 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.

FAQ

How many Franklin Financial (FRAF) options did the insider exercise?

She exercised 2,250 incentive stock options granted under the 2013 plan.

What was the exercise price of the options?

The options were exercised at $21.27 per share.

Did the insider sell any shares on the open market?

No. 1,118 shares were withheld by the company for taxes; no open-market sale occurred.

What is the insider’s new direct shareholding after the transaction?

She now directly owns 5,049 shares of Franklin Financial common stock.

Which option grants remain outstanding for the insider?

She still holds 2,250 options at $30 (exp. 02/23/2027) and 2,250 options at $34.10 (exp. 02/22/2028).