[Form 4] Orrstown Financial Services Inc Insider Trading Activity

Rhea-AI Filing Summary

On 07/29/2025 Orrstown Financial Services (ORRF) filed a Form 4 for EVP & Chief Experience Officer Michael Jaeger. The executive sold 642 common shares on 07/28/2025 at $34.25 (transaction code “S”). After the sale, Jaeger directly owns 745 unrestricted shares and 4,198 restricted shares that vest over the next three years.

No derivative securities were involved and no purchases were reported. The disposition reduced Jaeger’s freely tradable stake by roughly 46 % (642 of 1,387 previously held). No other insiders are covered in this filing.

Positive

• None.

Negative

• EVP Michael Jaeger sold 642 shares at $34.25, reducing his direct unrestricted stake by ~46 %, a potential bearish insider-sentiment cue.

Insights

Insider-Trading Analyst

TL;DR: Small insider sale; limited float impact, mildly negative sentiment signal.

The 642-share sale equals about US$22k and only trims the executive’s position, leaving him with 745 unrestricted shares plus 4,198 restricted. That size is immaterial to ORRF’s ~11 m share float, so liquidity or valuation effects are negligible. However, insiders usually sell for many reasons, so a single, modest disposal offers a weak bearish signal rather than a decisive indicator. No derivative hedges or simultaneous buys are disclosed, keeping the read-through slightly negative but overall neutral in impact for investors.

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
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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).

1. Name and Address of Reporting Person^*

Jaeger Michael

(Last) (First) (Middle)

4750 LINDLE ROAD

(Street)

HARRISBURG PA 17111

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Experience Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Orrstown Financial Services, Inc, Common Stock	07/28/2025		S		642	D	$34.25	745	D
Orrstown Financial Services, Inc. Common, Restricted Stock								4,198(1)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Restricted stock with various vesting dates over the next 3 years.

Remarks:

	/s/ Casara I Kieffer as P.O.A.	07/29/2025
	** 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.

FAQ

How many Orrstown (ORRF) shares did EVP Michael Jaeger sell?

He sold 642 common shares on 07/28/2025.

What price did the ORRF shares sell for in this Form 4?

The reported sale price was $34.25 per share.

How many shares does Michael Jaeger own after the transaction?

He now holds 745 unrestricted shares and 4,198 restricted shares.

Were any derivative securities or option exercises reported?

No, the filing lists no derivative acquisitions or exercises.

Does this filing include other Orrstown insiders?

No, the Form 4 covers only Michael Jaeger.