Burke & Herbert (BHRB) President Maddy Charles Surrenders 18,521 Shares

What Happened
Maddy H. Charles III, President and Director of Burke & Herbert Financial Services Corp. (BHRB), had 18,521 shares disposed on June 29, 2026 to satisfy a tax liability (reported as code F). The shares were valued at $71.34 each for a total of $1,321,288. The filing is an amendment correcting the number of shares issued upon settlement of stock‑settled SARs exercised that day (final issued shares 4,203, revised from 4,370).

Key Details

• Transaction date: 2026-06-29. Reported disposition: 18,521 shares at $71.34 = $1,321,288.
• Derivative action: stock‑settled SARs were exercised; the Form 4/A corrects the shares issued on settlement to 4,203 (was 4,370 in the original filing).
• Transaction code F indicates shares were surrendered to pay the exercise price and/or tax withholding.
• Filing: Amended Form 4 filed 2026-08-12 to correct the previously reported share issuance; the original Form 4 was filed 2026-06-30.
• Shares owned after the transaction: not specified in the information provided in this summary.

Context

• This was not an open‑market sale but a tax/withholding disposition following a stock‑settled exercise of SARs (a routine administrative step). Such withholdings are common after exercises and do not alone indicate a change in the insider’s view of the company.
• The amendment simply corrects the final share count from an estimated to the final fair‑market‑value calculation and is corrective rather than indicative of late discovery of the transaction.