LINKBANCORP (LNKB) risk chief converts shares in Burke & Herbert merger
Rhea-AI Filing Summary
LINKBANCORP, Inc.’s Chief Risk Officer Catherine Eisel reported returning or converting her entire LINKBANCORP common stock position in connection with its merger with Burke & Herbert Financial Services Corp. Multiple blocks of common stock held directly, by her spouse, and by her spouse’s IRA were disposed of as issuer dispositions.
Under the merger’s Agreement and Plan of Merger, each share of LINKBANCORP common stock was converted into the right to receive 0.1350 shares of Burke & Herbert common stock, with cash paid instead of fractional shares. A stock option covering 5,000 LINKBANCORP shares at a $6.58 exercise price also converted into a Burke & Herbert option using the same 0.1350 exchange ratio.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 38,509 shares
Net Sell
4 txns
Insider
Eisel Catherine
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options | 5,000 | $0.00 | $0.00 |
| Disposition | Common Stock | 23,643 | $0.00 | $0.00 |
| Disposition | Common Stock | 7,800 | $0.00 | $0.00 |
| Disposition | Common Stock | 7,066 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Options — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By Spouse's IRA);
Common Stock — 0 shares (Indirect, By Spouse);
Common Stock — 0 shares (Direct)
Footnotes (2)
- F1. Pursuant to the Agreement and Plan of Merger dated December 18, 2025 between the Issuer and Burke & Herbert Financial Services Corp. ("Burke & Herbert"), each issued and outstanding share of Issuer common stock was converted into the right to receive 0.1350 shares of common stock of Burke & Herbert. Holders of Issuer Common Stock will receive cash in lieu of fractional shares of Burke & Herbert common stock in accordance with the terms of the Agreement and Plan of Merger.
- F2. This option converted into a stock option exercisable for a number of shares of Burke & Herbert common stock equal to the number of shares of Issuer common stock underlying the option multiplied by 0.1350, rounded down to the nearest whole share, with an exercise price per share of Burke & Herbert common stock equal to the exercise price applicable to the underlying option divided by 0.1350, rounded up to the nearest cent.
Key Figures
Direct common shares disposed: 7,066 shares
Spouse shares disposed: 7,800 shares
Spouse’s IRA shares disposed: 23,643 shares
+4 more
7 metrics
Direct common shares disposed
7,066 shares
Non-derivative disposition to issuer on 2026-05-01
Spouse shares disposed
7,800 shares
Indirect holding by spouse, disposition to issuer on 2026-05-01
Spouse’s IRA shares disposed
23,643 shares
Indirect holding by spouse’s IRA, disposition to issuer
Stock options converted
5,000 options
Option on common stock converted in merger on 2026-05-01
Option exercise price
$6.58 per share
Exercise price of LINKBANCORP stock option before conversion
Share exchange ratio
0.1350
Burke & Herbert shares per LINKBANCORP common share
Option expiration
2035-05-23
Expiration date of the original LINKBANCORP stock option
Key Terms
Agreement and Plan of Merger, disposition to issuer, stock option, exchange ratio, +1 more
5 terms
Agreement and Plan of Merger financial
"Pursuant to the Agreement and Plan of Merger dated December 18, 2025 between the Issuer and Burke & Herbert Financial Services Corp."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
stock option financial
"This option converted into a stock option exercisable for a number of shares of Burke & Herbert common stock"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
exchange ratio financial
"equal to the number of shares of Issuer common stock underlying the option multiplied by 0.1350"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
IRA financial
""nature_of_ownership": "By Spouse's IRA""
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did LINKBANCORP (LNKB) Chief Risk Officer Catherine Eisel report in this Form 4?
Catherine Eisel reported disposing of all her LINKBANCORP common shares and a related stock option. The transactions were issuer dispositions tied to the merger with Burke & Herbert, rather than open-market sales, and reflect conversion into Burke & Herbert equity.
What happened to Catherine Eisel’s LINKBANCORP stock options in this Form 4?
A stock option for 5,000 LINKBANCORP shares at a $6.58 exercise price converted into a Burke & Herbert option. The new option covers the number of Burke & Herbert shares equal to 5,000 multiplied by 0.1350, rounded down, with the exercise price divided by 0.1350 and rounded up.