Orrstown (NASDAQ: ORRF) CEO uses 13,851 restricted shares to pay taxes, retains 123,748
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Orrstown Financial Services President & CEO Thomas R. Quinn Jr. reported routine share adjustments related to tax withholding on equity compensation. On 2026-06-01, a total of 13,851 restricted shares were disposed of to cover tax obligations at $37.13 per share, classified as tax-withholding dispositions rather than open-market sales.
After these entries, Quinn directly holds 123,748 shares of Orrstown Financial Services common stock, which includes 86,435 shares owned jointly with his spouse. The filing shows no open-market purchases or sales and no remaining derivative positions.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Quinn Thomas R Jr
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Orrstown Financial Services, Inc. Common, Restricted Stock | 3,642 | $37.13 | $135K |
| Tax Withholding | Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. | 10,209 | $37.13 | $379K |
| holding | Orrstown Financial Services, Inc, Common Stock | -- | -- | -- |
Holdings After Transaction:
Orrstown Financial Services, Inc. Common, Restricted Stock — 0 shares (Direct, null);
Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. — 0 shares (Direct, null);
Orrstown Financial Services, Inc, Common Stock — 123,748 shares (Direct, null)
Footnotes (1)
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Key Figures
Tax-withheld shares: 13,851 shares
Tax-withholding price: $37.13 per share
Post-transaction holdings: 123,748 shares
+3 more
6 metrics
Tax-withheld shares
13,851 shares
Restricted shares delivered for tax liability on 2026-06-01
Tax-withholding price
$37.13 per share
Value used for restricted stock tax-withholding dispositions
Post-transaction holdings
123,748 shares
Common stock directly held after transactions
Jointly owned shares
86,435 shares
Shares owned jointly with spouse included in direct holdings
RSU tax withholding
10,209 shares
Restricted stock units delivered for tax liability
Restricted stock tax withholding
3,642 shares
Restricted stock shares delivered for tax liability
Key Terms
tax-withholding disposition, Payment of exercise price or tax liability by delivering securities, Restricted Stock, Rest. Stock. Unt.
4 terms
tax-withholding disposition financial
"transaction_action": "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.
Payment of exercise price or tax liability by delivering securities financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering securities""
Restricted Stock financial
"security_title": "Orrstown Financial Services, Inc. Common, Restricted Stock""
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.
Rest. Stock. Unt. financial
"security_title": "Orrstown Financial Services, Inc., Common, Rest. Stock. Unt.""
