ORRF executive reports tax withholding on 296 shares
Orrstown Financial Services executive Michael Jaeger reported updated share holdings and a routine tax-related share disposition.
Rhea-AI Filing Summary
Orrstown Financial Services executive Michael Jaeger reported updated share holdings and a routine tax-related share disposition. On restricted stock, 296 shares of Orrstown Financial Services, Inc. common stock were delivered at $40.83 per share to satisfy tax obligations tied to equity compensation.
After this tax-withholding disposition, Jaeger directly holds 3,549 shares of Orrstown common stock classified as restricted stock, 1,884 shares of Orrstown common stock, and 1,082 restricted stock units. The filing also notes that the restricted stock awards have various vesting dates over the next three years, and certain restricted stock units vest three years after the award date based on pre-established company performance criteria.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise Price or Tax Liability: 296 shares
Exercise Price or Tax Liability
3 txns
Insider
Jaeger Michael
Role
EVP, Chief Experience 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 | -- | -- | -- |
| holding | Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. | -- | -- | -- |
Holdings After Transaction:
Orrstown Financial Services, Inc. Common, Restricted Stock — 3,549 shares (Direct);
Orrstown Financial Services, Inc, Common Stock — 1,884 shares (Direct);
Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. — 1,082 shares (Direct)
Footnotes (2)
- F1. Restricted stock with various vesting dates over the next 3 years.
- F2. Restricted stock units vesting three years after the date of the award based on pre-established company performance criteria.
Key Figures
Tax-withholding shares: 296 shares
Tax-withholding price: $40.83 per share
Restricted shares after transaction: 3,549 shares
+4 more
7 metrics
Tax-withholding shares
296 shares
Restricted common stock delivered for tax liability
Tax-withholding price
$40.83 per share
Price used for 296-share tax-withholding disposition
Restricted shares after transaction
3,549 shares
Orrstown common, restricted stock, directly held
Common shares held
1,884 shares
Orrstown Financial Services common stock, direct ownership
Restricted stock units held
1,082 units
Restricted stock units in Orrstown common stock
Restricted stock vesting horizon
3 years
Various vesting dates over the next three years
RSU vesting period
3 years after award
RSUs vest based on performance criteria
Key Terms
Restricted stock, Restricted stock units, tax-withholding disposition, pre-established company performance criteria, +1 more
5 terms
Restricted stock financial
"Restricted stock with various vesting dates over the next 3 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.
Restricted stock units financial
"Restricted stock units vesting three years after the date of the award based on pre-established company performance criteria."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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.
pre-established company performance criteria financial
"based on pre-established company performance criteria."
Payment of exercise price or tax liability by delivering securities financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering securities""
FAQ
What did ORRF executive Michael Jaeger report in this Form 4 filing?
Michael Jaeger reported a tax-related share disposition and updated equity holdings. 296 restricted shares were delivered to cover tax obligations, and he now directly holds 3,549 restricted shares, 1,884 common shares, and 1,082 restricted stock units in Orrstown Financial Services.
How are Michael Jaeger’s restricted stock awards in ORRF structured to vest?
Jaeger’s restricted stock includes awards with various vesting dates over the next three years. The filing also notes restricted stock units that vest three years after the grant date, with vesting based on pre-established Orrstown Financial Services company performance criteria outlined in the award terms.
What types of equity instruments does Michael Jaeger hold in Orrstown Financial Services (ORRF)?
Jaeger holds three types of equity instruments: restricted shares of Orrstown common stock, unrestricted Orrstown common stock, and restricted stock units. The restricted stock and units are subject to vesting schedules, including multi-year vesting and performance-based vesting criteria set by the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
