Orrstown (NASDAQ: ORRF) director granted 2,600 restricted shares in equity award

Q: What did ORRF director Joel R. Zullinger report in this Form 4?

Director Joel R. Zullinger reported receiving a grant of 2,600 restricted shares of Orrstown Financial Services common stock. The filing also updates his total common and restricted share holdings, reflecting compensation rather than open-market trading activity.

Q: How many restricted ORRF shares were granted to Joel R. Zullinger?

Joel R. Zullinger was granted 2,600 shares of restricted common stock of Orrstown Financial Services. These shares were awarded at $0.00 per share as equity compensation, not as a market purchase, and will vest on various dates over the next 18 months.

Q: When do Joel R. Zullinger’s new restricted ORRF shares vest?

The 2,600 restricted shares granted to Joel R. Zullinger vest on various dates over the next 18 months . This means the shares become fully owned gradually according to the company’s vesting schedule instead of all at once on the grant date.

Q: How many restricted ORRF shares does Joel R. Zullinger hold after the grant?

Following the grant, Joel R. Zullinger holds 4,600 restricted shares of Orrstown Financial Services common stock. This amount reflects his total restricted stock position after adding the newly awarded 2,600 shares reported in the Form 4 filing.

Q: Does this ORRF Form 4 show any open-market stock purchases or sales?

No, the Form 4 shows a grant of 2,600 restricted shares to Joel R. Zullinger and updated holdings, but indicates no open-market purchases or sales. The award is classified as a grant or other acquisition, typically part of director compensation.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

ZULLINGER JOEL R reported acquisition or exercise transactions in this Form 4 filing.

Orrstown Financial Services, Inc. director Joel R. Zullinger received a grant of 2,600 shares of restricted common stock as equity compensation. The grant was made at a price of $0.00 per share, and the restricted stock vests on various dates over the next 18 months.

Following this grant, Zullinger directly holds 4,600 shares of restricted stock and 54,372 shares of Orrstown common stock, including 3,605 shares owned jointly with his spouse. The filing does not show any open-market buying or selling; it reflects a compensation-related award and updated holdings.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider ZULLINGER JOEL R

Role null

Type	Security	Shares	Price	Value
Grant/Award	Orrstown Financial Services, Inc. Common, Restricted Stock	2,600	$0.00	--
holding	Orrstown Financial Services, Inc, Common Stock	--	--	--

Holdings After Transaction: Orrstown Financial Services, Inc. Common, Restricted Stock — 4,600 shares (Direct, null); Orrstown Financial Services, Inc, Common Stock — 54,372 shares (Direct, null)

Footnotes (1)

Restricted stock with various vesting dates over the next 18 months. Includes 3,605 shares owned jointly with the reporting persons spouse

Key Figures

Restricted stock grant: 2,600 shares Grant price: $0.00 per share Restricted shares after grant: 4,600 shares +3 more

6 metrics

Restricted stock grant 2,600 shares Grant of restricted common stock to director on May 5, 2026

Grant price $0.00 per share Price per share for 2,600 restricted shares granted

Restricted shares after grant 4,600 shares Total restricted stock held by Zullinger after the award

Common shares held 54,372 shares Total Orrstown common stock directly held after reported transactions

Jointly owned shares 3,605 shares Common shares owned jointly with spouse included in total holdings

Vesting period 18 months Restricted stock vests on various dates over the next 18 months

Key Terms

Restricted stock, vesting, grant/award acquisition, Common Stock, +1 more

5 terms

Restricted stock financial

"Restricted stock with various vesting dates over the next 18 months."

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.

vesting financial

"Restricted stock with various vesting dates over the next 18 months."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Common Stock financial

"Orrstown Financial Services, Inc, Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

ownership financial

"Includes 3,605 shares owned jointly with the reporting persons spouse"

Form 4 Insider Transactions: What Each Field Means →

05/06/2026 - 04:21 PM

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^*

ZULLINGER JOEL R

(Last)

(First)

(Middle)

4750 LINDLE ROAD

(Street)

HARRISBURG

PENNSYLVANIA

17111

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ORRSTOWN FINANCIAL SERVICES INC [ ORRF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Orrstown Financial Services, Inc. Common, Restricted Stock	05/05/2026		A		2,600	A	$0	4,600⁽¹⁾	D
Orrstown Financial Services, Inc, Common Stock								54,372⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Restricted stock with various vesting dates over the next 18 months.

2. Includes 3,605 shares owned jointly with the reporting persons spouse

Remarks:

	/s/ Casara I Kieffer as P.O.A.	05/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did ORRF director Joel R. Zullinger report in this Form 4?

Director Joel R. Zullinger reported receiving a grant of 2,600 restricted shares of Orrstown Financial Services common stock. The filing also updates his total common and restricted share holdings, reflecting compensation rather than open-market trading activity.

How many restricted ORRF shares were granted to Joel R. Zullinger?

Joel R. Zullinger was granted 2,600 shares of restricted common stock of Orrstown Financial Services. These shares were awarded at $0.00 per share as equity compensation, not as a market purchase, and will vest on various dates over the next 18 months.

When do Joel R. Zullinger’s new restricted ORRF shares vest?

The 2,600 restricted shares granted to Joel R. Zullinger vest on various dates over the next 18 months. This means the shares become fully owned gradually according to the company’s vesting schedule instead of all at once on the grant date.

How many ORRF common shares does Joel R. Zullinger own after this filing?

After the reported transactions, Joel R. Zullinger directly holds 54,372 shares of Orrstown common stock. This total includes 3,605 shares that are owned jointly with his spouse, according to the disclosure in the Form 4 filing footnotes.

How many restricted ORRF shares does Joel R. Zullinger hold after the grant?

Following the grant, Joel R. Zullinger holds 4,600 restricted shares of Orrstown Financial Services common stock. This amount reflects his total restricted stock position after adding the newly awarded 2,600 shares reported in the Form 4 filing.

Does this ORRF Form 4 show any open-market stock purchases or sales?

No, the Form 4 shows a grant of 2,600 restricted shares to Joel R. Zullinger and updated holdings, but indicates no open-market purchases or sales. The award is classified as a grant or other acquisition, typically part of director compensation.