Franklin Financial (FRAF) Officer Ups Stake After Option Exercise

Rhea-AI Filing Summary

On 07/30/2025, Matthew D. Weaver, SVP & Chief Marketing Officer of Franklin Financial Services Corp. (FRAF), filed a Form 4 disclosing an option exercise (code M) for 2,150 common shares at an exercise price of $21.27 under the 2013 Incentive Stock Option Plan. To cover exercise costs and taxes, 1,109 shares were withheld by the issuer at the then-market price of $41.26 (code F), resulting in a net addition of 1,041 shares to Weaver’s direct holdings.

Following the transaction, Weaver directly owns 3,381 common shares, up from 2,340. The exercised 2016 grant is now exhausted, while 4,500 unexercised options remain (2,250 at $30 expiring 02/23/2027 and 2,250 at $34.10 expiring 02/22/2028). The cashless exercise locks in an intrinsic gain of roughly $43k but does not represent open-market buying or selling. Overall impact is modest given FRAF’s share count, yet the insider retains the newly acquired shares, a signal of continued confidence in the company’s prospects.

Positive

• Net increase of 1,041 shares suggests insider is retaining equity rather than immediately liquidating.
• Exercise price ($21.27) far below market price ($41.26), implying confidence in long-term valuation.

Negative

• Transaction size is small versus total shares outstanding, limiting market significance.
• Shares were acquired via cashless exercise, not an open-market purchase, tempering the strength of the bullish signal.

Insights

Securities Analyst

TL;DR: Routine cashless option exercise; small net share gain, neutral-to-slightly positive signal.

The filing shows Weaver crystallizing value from a deep-in-the-money 2016 option grant, gaining 1,041 shares after tax withholding. Because no open-market sale occurred and the insider retains the net shares, the move can be read as modestly bullish. However, the dollar value (~$43k) and share count are immaterial relative to Franklin Financial’s total float, so market impact should be limited. Remaining options provide additional upside alignment through 2028.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Weaver Matthew D

(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 Marketing Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2025

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	07/30/2025		M		2,150(1)	A	$21.27	4,490(2)(3)	D
Common Stock	07/30/2025		F		1,109(1)	D	$41.26	3,381(3)	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	07/30/2025		M			2,150	08/25/2016	02/25/2026	Common Stock	2,150	$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 $41.26 per share less an exercise price of $21.27 per share to fund the cashless exercise of 2,150 options owned by the reporting person pursuant to the issuer's 2013 Incentive Stock Option Plan.

2. Total shares includes 12 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.

3. Includes previously reported unvested restricted stock units.

	/s/Amanda M. Ducey by Power of Attorney for Matthew D. Weaver	08/01/2025
	** 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 FRAF shares does Matthew D. Weaver now own?

3,381 common shares are now held directly after the reported transactions.

What was the exercise price of the options converted?

The options were exercised at $21.27 per share.

Did the insider sell any shares on the open market?

No. 1,109 shares were withheld by the issuer for taxes; no open-market sale occurred.

How many options remain outstanding for the insider?

Weaver still holds 4,500 options: 2,250 at $30 (exp. 02/23/2027) and 2,250 at $34.10 (exp. 02/22/2028).

Is this transaction likely to impact FRAF’s stock price?

Given the small share count, the filing is considered neutral in market impact.