Burke & Herbert (BHRB) EVP Robert S. Tissue Exercises Options

What Happened

• Robert S. Tissue, EVP, Balance Sheet Strategy at Burke & Herbert Financial Services (BHRB), exercised stock options on July 30, 2026. He exercised two option lots totaling 17,120 shares (8,684 @ $43.33 = $376,278; 8,436 @ $52.29 = $441,118). To cover taxes/exercise obligations, 12,914 shares were surrendered/withheld (valued at $73.63 per share, total $950,858), leaving a net increase of 4,206 shares.

Key Details

• Transaction date: 2026-07-30; Form 4 filed: 2026-08-03 (reporting period 2026-07-30).
• Option exercises (code M): 8,684 shares at $43.33 and 8,436 shares at $52.29 were acquired.
• Tax/exercise payment (code F): 12,914 shares withheld at $73.63 (value $950,858).
• Derivative disposals at $0 reflect the cancellation/settlement of the option instruments after exercise.
• Net result: +4,206 shares retained by the insider after withholding. The filing does not state the insider’s aggregate shares owned after the transaction.

Context

• This was an options exercise with withholding to cover tax/exercise obligations (a common, administrative step), not an open-market purchase or sale. The F-code withholding is effectively a cashless step where shares are surrendered to satisfy taxes rather than the insider selling shares on the open market.