LINKBANCORP director converts shares in merger
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
LINKBANCORP, Inc. director William E. Pommerening reported issuer dispositions tied to the company’s merger with Burke & Herbert Financial Services Corp. He disposed of 55,000 indirectly held and 14,392 directly held shares of common stock, plus 5,000 stock options. Under the merger agreement, each LINKBANCORP share converted into the right to receive 0.1350 Burke & Herbert common share, with cash paid instead of fractional Burke & Herbert shares. His reported LINKBANCORP common stock and related options now show zero remaining balances, reflecting conversion into Burke & Herbert equity.
Insider Trade Summary
Disposition: 74,392 shares
Disposition
3 txns
Insider
POMMERENING WILLIAM E
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options | 5,000 | $0.00 | $0.00 |
| Disposition | Common Stock | 14,392 | $0.00 | $0.00 |
| Disposition | Common Stock | 55,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Options — 0 contracts (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By SEP IRA)
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
Indirect shares disposed: 55,000 shares
Direct shares disposed: 14,392 shares
Options disposed: 5,000 options
+1 more
4 metrics
Indirect shares disposed
55,000 shares
Common stock held by SEP IRA, disposition to issuer
Direct shares disposed
14,392 shares
Common stock held directly, disposition to issuer
Options disposed
5,000 options
Stock options on common stock, $10.00 exercise price
Exchange ratio
0.1350 shares
Burke & Herbert common stock per LINKBANCORP share
Key Terms
Agreement and Plan of Merger, Disposition to issuer, Stock Options, SEP IRA, +1 more
5 terms
Agreement and Plan of Merger regulatory
"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 Options financial
"security_title: Stock Options"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
SEP IRA financial
"nature_of_ownership: By SEP IRA"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did LINKBANCORP (LNKB) report for William E. Pommerening?
LINKBANCORP reported that director William E. Pommerening disposed of common shares and options in connection with its merger. The Form 4 shows issuer dispositions of indirectly and directly held LINKBANCORP stock plus stock options, reflecting conversion into Burke & Herbert equity.
What happened to William E. Pommerening’s LINKBANCORP stock options in this Form 4?
The filing shows a disposition of 5,000 LINKBANCORP stock options with a $10.00 exercise price. According to the merger terms, this option converted into a Burke & Herbert stock option adjusted for the 0.1350 share exchange ratio and a revised exercise price.
Does William E. Pommerening still hold LINKBANCORP (LNKB) securities after this transaction?
The Form 4 reports total shares following the transactions as zero for the common stock positions and the stock option. This indicates his reported LINKBANCORP holdings were eliminated and converted into Burke & Herbert equity under the Agreement and Plan of Merger.
Why are these LINKBANCORP (LNKB) transactions labeled as dispositions to the issuer?
The transactions use code D, described as a disposition to the issuer, because they reflect how LINKBANCORP securities were surrendered or converted under the merger terms. In return, holders became entitled to Burke & Herbert common stock and related adjusted options.
AI-generated analysis. How Rhea-AI works. Not financial advice.
