Orzehoski Scott G 4

What Happened

• Scott G. Orzehoski, EVP & Chief Lending Officer of QNB CORP, exercised stock options to acquire a total of 6,750 shares at an exercise price of $32.50 per share (total cost ≈ $219,375) on January 30, 2026.
• On the same date he disposed of 6,325 shares through a combination of withholding and sales: a 3,375-share derivative disposition at $32.50 (≈ $109,687.50), 2,650 shares surrendered/withheld for tax liability at $37.75 (≈ $100,037.50), and an open-market sale of 300 shares at $38.28 (≈ $11,484). Net retained shares from these transactions: 425 shares.

Key Details

• Transaction date: 2026-01-30; Form 4 filed: 2026-02-03.
• Exercises: 6,750 shares exercised at $32.50 (total ≈ $219,375).
• Dispositions: 3,375 shares (M) @ $32.50; 2,650 shares (F, tax withholding) @ $37.75; 300 shares (S, open market) @ $38.28.
• Net effect: approximately 425 shares retained after the exercise and related disposals.
• Notes: M = option exercise/conversion of derivative; F = shares used to pay tax liability; S = open-market sale. The filing shows the tax-withholding and cashless-sale elements common to option exercises.
• Timeliness: filing date is Feb 3, 2026 reporting Jan 30, 2026 transactions; no late-filing flag is included in this summary excerpt.

Context

• This appears to be a typical option exercise with immediate share disposition to cover exercise costs and taxes (a cashless or sell-to-cover-like process), rather than an outright purchase intended to increase a large ownership stake.
• Purchases (exercises) are informative, but the simultaneous disposals mean the insider retained a small net position (425 shares), so interpret this as standard option-exercise activity rather than a clear bullish or bearish signal.