Orrstown CAO reports tax withholding of 296 shares
Orrstown Financial Services, Inc. Chief Accounting Officer Sean Mulcahy reported a Form 4 showing shares withheld to cover taxes on restricted stock.
Rhea-AI Filing Summary
Orrstown Financial Services, Inc. Chief Accounting Officer Sean Mulcahy reported a Form 4 showing shares withheld to cover taxes on restricted stock. An F-code transaction disposed of 296 shares of restricted common stock at $40.83 per share as a tax-withholding disposition.
After this event, Mulcahy directly held 2,768 shares of Orrstown restricted common stock and 5,946 shares of common stock in total, which the footnotes state include 300 shares owned jointly with his spouse. The restricted stock is time-vested with various vesting dates over the next three years.
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Insider Trade Summary
Exercise Price or Tax Liability: 296 shares
Exercise Price or Tax Liability
2 txns
Insider
Mulcahy Sean
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Orrstown Financial Services, Inc. Common, Restricted Stock | 296 | $40.83 | $12K |
| holding | Orrstown Financial Services, Inc, Common Stock | -- | -- | -- |
Holdings After Transaction:
Orrstown Financial Services, Inc. Common, Restricted Stock — 2,768 shares (Direct);
Orrstown Financial Services, Inc, Common Stock — 5,946 shares (Direct)
Footnotes (2)
- F1. Time-vested restricted stock with various vesting dates over the next three years
- F2. Includes 300 shares owned jointly with the reporting persons spouse
Key Figures
Tax-withheld shares: 296 shares
Withholding price: $40.83 per share
Restricted shares after: 2,768 shares
+2 more
5 metrics
Tax-withheld shares
296 shares
Restricted common stock withheld for taxes, code F
Withholding price
$40.83 per share
Value used for 296-share tax-withholding disposition
Restricted shares after
2,768 shares
Restricted Orrstown common stock held post-transaction
Total common shares after
5,946 shares
Direct Orrstown common stock holdings after Form 4
Jointly owned shares
300 shares
Shares owned jointly with spouse, included in total
Key Terms
tax-withholding disposition, restricted stock, time-vested, Form 4, +1 more
5 terms
tax-withholding disposition financial
"An F-code transaction disposed of 296 shares of restricted common stock at $40.83 per share as a tax-withholding disposition."
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
restricted stock financial
"Time-vested restricted stock with various vesting dates over the next three years"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
time-vested financial
"Time-vested restricted stock with various vesting dates over the next three years"
Time-vested describes a right—such as stock options, restricted shares, or pension benefits—that becomes fully owned by an individual only after they have waited for or worked through a specified period. For investors, it matters because these delayed ownership rules affect when insiders or employees can sell shares, which influences share supply, executive incentives, and the timing of potential stock dilution or insider-driven stock sales.
Form 4 regulatory
"Chief Accounting Officer Sean Mulcahy reported a Form 4 showing shares withheld to cover taxes on restricted stock."
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
transaction code F regulatory
"Transaction code F indicates shares withheld to pay an exercise price or tax liability."
FAQ
What insider transaction did ORRSTOWN FINANCIAL SERVICES INC (ORRF) report for Sean Mulcahy?
ORRSTOWN FINANCIAL SERVICES INC reported that Chief Accounting Officer Sean Mulcahy had shares withheld to cover taxes on restricted stock. The Form 4 reflects a tax-related disposition rather than an open-market sale, providing insight into his equity compensation activity.
What does transaction code F mean in the ORRF Form 4 for Sean Mulcahy?
Transaction code F indicates shares withheld to pay an exercise price or tax liability. For Sean Mulcahy, it denotes a tax-withholding disposition on restricted stock, meaning the company retained 296 shares to satisfy taxes rather than Mulcahy selling them in the open market.
What are the vesting terms of Sean Mulcahy’s restricted ORRF stock reported in the filing?
The footnotes describe Mulcahy’s restricted stock as time-vested with various vesting dates over the next three years. This means portions of the restricted shares will become unrestricted over time, conditioned on continued service or other plan requirements specified in the award.
AI-generated analysis. How Rhea-AI works. Not financial advice.
