MADDY H CHARLES III 4

What Happened

• Maddy H. Charles III, President and Director of Burke & Herbert Financial Services Corp. (BHRB), had 1,541 shares withheld on 2026-05-03 at $64.64 per share for a total value of $99,610. The transaction is coded "F" — payment of exercise price or tax liability — which indicates shares were surrendered/withheld to cover tax obligations following an option exercise, not an open-market sale.

Key Details

• Transaction date: 2026-05-03; filing date: 2026-05-04 (timely).
• Price per share: $64.64; total value of shares withheld: $99,610.
• Transaction code: F (payment of exercise price or tax liability — typically share withholding).
• Shares owned after transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan or other special instructions disclosed in the excerpt.

Context

• This appears to be a cashless withholding to satisfy tax obligations from an option exercise (common and routine). Such withholdings reduce the insider's share count but are not the same as a deliberate open-market sale, and therefore do not necessarily signal a change in the insider’s view of the company.