Orrstown (NASDAQ: ORRF) EVP Christopher Orr receives restricted stock awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Orrstown Financial Services executive Christopher Orr, EVP and Chief Information Officer, reported two equity awards in the form of restricted stock and restricted stock units. He acquired 1,915 shares of restricted common stock and 1,915 restricted stock units at a stated price of $0.00 per share.
The restricted stock carries various vesting dates over the next three years, while the restricted stock units vest three years after the award date based on pre-established company performance criteria. Following these awards, his directly held common shares increased to 4,415, and he holds 1,915 restricted stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Orr Christopher
Role
EVP Chief Information Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Orrstown Financial Services, Inc., Common, Restricted Stock | 1,915 | $0.00 | -- |
| Grant/Award | Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. | 1,915 | $0.00 | -- |
Holdings After Transaction:
Orrstown Financial Services, Inc., Common, Restricted Stock — 4,415 shares (Direct);
Orrstown Financial Services, Inc., Common, Rest. Stock. Unt. — 1,915 shares (Direct)
Footnotes (1)
- Restricted stock with various vesting dates over the next 3 years. Restricted stock units vesting three years after the date of the award based on pre-established company performance criteria.
FAQ
What insider transaction did Orrstown Financial Services (ORRF) report?
Orrstown reported equity awards to EVP and Chief Information Officer Christopher Orr. He received 1,915 restricted common shares and 1,915 restricted stock units, both granted at a stated price of $0.00 per share, reflecting compensation rather than an open-market stock purchase.
What restricted stock units did Christopher Orr receive from Orrstown Financial Services (ORRF)?
He received 1,915 restricted stock units tied to Orrstown common stock. These units vest three years after the award date and depend on pre-established company performance criteria, so the final benefit to Orr will depend on meeting those performance goals.
How do the Orrstown Financial Services (ORRF) awards to Christopher Orr vest?
The restricted stock grants vest on various dates over the next three years. The restricted stock units vest three years after the award date and depend on pre-set company performance criteria, linking Orr’s realized compensation to Orrstown’s longer-term operating results.