Parmer George 4

What Happened
Parmer George, a director of LINKBANCORP, disposed of a total of 1,880,233 LINKBANCORP (LNKB) shares on May 1, 2026. These were reported as "dispositions to the issuer" under the company’s merger with Burke & Herbert Financial Services Corp.; no per‑share sale price or cash proceeds are reported because LNKB shares were converted under the merger terms rather than sold on the open market. Under the merger agreement, each LNKB share was converted into the right to receive 0.1350 shares of Burke & Herbert common stock (with cash paid for any fractional shares). The disposed LNKB shares convert to roughly 253,831 whole Burke & Herbert shares (1,880,233 × 0.1350 = 253,831.455, rounded down), with cash in lieu for the fractional portion.

Key Details

• Transaction date: 2026-05-01; Form filed 2026-05-01 (timely filing). Transaction code: D (disposition to issuer, merger conversion).
• Shares disposed: 1,880,233 LNKB shares (individual filings list multiple lot dispositions summing to this total). Price: N/A (conversion under merger).
• Estimated post‑conversion holding: reporting person no longer holds LNKB shares; will receive approximately 253,831 whole Burke & Herbert shares and cash in lieu for fractions.
• Derivative item: a 5,000‑share derivative position was reported as disposed; per footnote, that option converted into a Burke & Herbert option exercisable for floor(5,000 × 0.1350) = 675 shares, with the new exercise price adjusted per the merger (see footnote F2).
• Footnotes: F1 describes the merger conversion ratio (0.1350 shares of Burke & Herbert per LNKB share) and cash for fractional shares; F2 explains how options were converted (rounded down share counts, adjusted exercise price).
• No open‑market sale or 10b5‑1 plan is indicated; this is a corporate transaction (merger conversion), not a voluntary sale.

Context

• This is not a typical insider sale for cash—it's a corporate reorganization: LNKB stock was converted into Burke & Herbert stock (and cash for fractions) under the merger agreement. Such filings reflect corporate actions rather than an insider signaling buy/sell sentiment.
• For the derivative option conversion, the option now relates to Burke & Herbert shares (smaller share count due to 0.1350 ratio); exercise price and whether the option is exercised later are separate events that would be reported if they occur.