Bowling Ronald L 4
4 · SUMMIT FINANCIAL GROUP, INC. · Filed May 3, 2024
Insider Transaction Report
Form 4
Bowling Ronald L
Director
Transactions
- Disposition to Issuer
Non-Cumulative Perpetual Preferred Stock, Series 2021
2024-05-03−10→ 0 total - Disposition to Issuer
Common Stock
2024-05-03−9,000→ 0 total
Footnotes (2)
- [F1]Disposed of in accordance with the Agreement and Plan of Reorganization, dated as of August 24, 2023 the ("Merger Agreement"), by and between Summit Financial Group, Inc. ("Summit") and Burke & Herbert Financial Services Corp. ("Burke & Herbert") pursuant to which Summit was merged with and into Burke & Herbert effective May 3, 2024 ("the Merger"). At the effective time of the Merger, each issued and outstanding share of Summit common stock was converted into the right to receive 0.5043 shares of Burke &Herbert common stock (subject to the payment of cash in lieu of fractional shares) (the "Merger Consideration"). As a result of the Merger, the Reporting Person no longer beneficially owns, directly or indirectly, any shares of Summit common stock.
- [F2]Disposed of in accordance with the Merger. At the effective time of the Merger, each share of 6.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series 2021 was converted into the right to receive a share of a newly created series of preferred stock of Burke & Herbert, the Burke & Herbert Series 2021 Preferred Stock.