LINKBANCORP (LNKB) officer exits holdings as shares convert in Burke & Herbert merger
Rhea-AI Filing Summary
LINKBANCORP, Inc. reports that Chief Ops and Tech Officer Deirdre Bonora disposed of 12,586 shares of common stock back to the issuer, leaving no LINKBANCORP common shares reported as held after the transaction.
On the same date, 5,000 stock options with a $9.00 exercise price, originally exercisable for LINKBANCORP common stock and expiring on December 22, 2032, were also reported as disposed of to the issuer. Under the Agreement and Plan of Merger with Burke & Herbert Financial Services Corp., each LINKBANCORP common share was converted into the right to receive 0.1350 shares of Burke & Herbert common stock, and the option awards converted into Burke & Herbert options using the same 0.1350 exchange ratio with an adjusted exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 12,586 shares
Net Sell
2 txns
Insider
Bonora Deirdre
Role
Chief Ops and Tech Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options | 5,000 | $0.00 | $0.00 |
| Disposition | Common Stock | 12,586 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Options — 0 shares (Direct);
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
Common shares disposed: 12,586 shares
Options disposed: 5,000 options
Option exercise price: $9.00 per share
+2 more
5 metrics
Common shares disposed
12,586 shares
Disposition to issuer of LINKBANCORP common stock
Options disposed
5,000 options
Stock options on LINKBANCORP common stock returned to issuer
Option exercise price
$9.00 per share
Exercise price of LINKBANCORP stock options before conversion
Option expiration
December 22, 2032
Original expiration date of the LINKBANCORP stock options
Merger share exchange ratio
0.1350
Burke & Herbert shares per LINKBANCORP common share
Key Terms
Disposition to issuer, Agreement and Plan of Merger, stock option, exercise price per share
4 terms
Disposition to issuer financial
"transaction_code_description: Disposition to issuer for both entries"
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger dated December 18, 2025"
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.
stock option financial
"This option converted into a stock option exercisable for a number of shares"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did LINKBANCORP (LNKB) report for Deirdre Bonora?
Deirdre Bonora reported disposing of her LINKBANCORP holdings. The Form 4 shows a disposition of 12,586 shares of common stock back to the issuer, leaving no LINKBANCORP common shares reported as held after the transaction was completed.
What happened to Deirdre Bonora’s LINKBANCORP stock options in the merger?
5,000 LINKBANCORP stock options were reported as disposed of to the issuer. According to the merger agreement, these options converted into options for Burke & Herbert common stock using a 0.1350 share exchange ratio and an exercise price adjusted by dividing by 0.1350.
What is the merger exchange ratio between LINKBANCORP and Burke & Herbert?
Each LINKBANCORP common share converts into 0.1350 Burke & Herbert shares. Holders of LINKBANCORP common stock will also receive cash in lieu of any fractional shares of Burke & Herbert common stock, as described in the Agreement and Plan of Merger.
Did Deirdre Bonora retain any LINKBANCORP stock options after this transaction?
No LINKBANCORP stock options are shown as remaining. The Form 4 lists a disposition of 5,000 stock options to the issuer, with zero options reported as held afterward, while the underlying awards converted into Burke & Herbert options under the merger terms.
What were the key terms for converting LINKBANCORP options into Burke & Herbert options?
Options converted based on a 0.1350 share exchange ratio. The number of Burke & Herbert option shares equals the LINKBANCORP underlying shares times 0.1350, rounded down, and the Burke & Herbert exercise price equals the prior exercise price divided by 0.1350, rounded up to the nearest cent.