4//SEC Filing
JENNINGS SCOTT C 4
Accession 0001437749-24-014567
CIK 0000811808other
Filed
May 2, 8:00 PM ET
Accepted
May 3, 12:19 PM ET
Size
19.9 KB
Accession
0001437749-24-014567
Insider Transaction Report
Form 4
JENNINGS SCOTT C
Sr. VP & COO
Transactions
- Disposition to Issuer
Common Stock
2024-05-03−14,293.986→ 0 total(indirect: By ESOP) - Disposition to Issuer
Common Stock
2024-05-03−14,607→ 0 total - Disposition to Issuer
Stock-Settled Stock Appreciation Rights
2024-05-03−17,947→ 0 totalExercise: $12.01From: 2016-04-23Exp: 2025-04-23→ Common Stock (17,947 underlying) - Disposition to Issuer
Stock-Settled Stock Appreciation Rights
2024-05-03−8,151→ 0 totalExercise: $26.01From: 2018-02-09Exp: 2027-02-09→ Common Stock (8,151 underlying) - Other
Common Stock
2024-05-03+896.776→ 14,293.986 total(indirect: By ESOP) - Disposition to Issuer
Stock-Settled Stock Appreciation Rights
2024-05-03−17,052→ 0 totalExercise: $23.94From: 2020-02-07Exp: 2029-02-07→ Common Stock (17,052 underlying) - Disposition to Issuer
Stock-Settled Stock Appreciation Rights
2024-05-03−17,221→ 0 totalExercise: $21.85From: 2022-07-15Exp: 2031-07-15→ Common Stock (17,221 underlying) - Disposition to Issuer
Stock-Settled Stock Appreciation Rights
2024-05-03−16,730→ 0 totalExercise: $26.37From: 2024-02-09Exp: 2033-02-09→ Common Stock (16,730 underlying)
Footnotes (6)
- [F1]SARs vests in 5 equal annual installments with the beginning date indicated.
- [F2]The information reported herein is based on a plan statement dated 12/31/2023 received in April 2024
- [F3]Between January 1, 2023 and December 31, 2023, acquired 896.7759 shares of Summit Common Stock under the Summit Financial Group, Inc. Employee Stock Ownership Plan.
- [F4]The reported holdings include stock acquired in dividend reinvestment transactions that are exempt from reporting under Rule 16a-11.
- [F5]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.
- [F6]Pursuant to the Merger Agreement, at the effective time of the Merger, each stock appreciation right was converted into a stock appreciation right of Burke & Herbert (each a "Burke & Herbert Replacement SAR"), with adjustments to the number of shares of Burke & Herbert common stock underlying each Burke & Herbert Replacement SAR and the base price of continuing corporation common stock for each Burke & Herbert Replacement SAR adjusted based on the exchange ratio of 0.5043.
Documents
Issuer
SUMMIT FINANCIAL GROUP, INC.
CIK 0000811808
Entity typeother
Related Parties
1- filerCIK 0001186835
Filing Metadata
- Form type
- 4
- Filed
- May 2, 8:00 PM ET
- Accepted
- May 3, 12:19 PM ET
- Size
- 19.9 KB