Carmack Karen K 4
4 · FRANKLIN FINANCIAL SERVICES CORP /PA/ · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Franklin Financial (FRAF) HR SVP Karen Carmack Receives RSU Award
What Happened
Karen K. Carmack, Senior Vice President and Chief Human Resources Officer of Franklin Financial Services Corp (FRAF), was granted 506 restricted stock units (RSUs) on March 2, 2026 (recorded as acquisition A at $0.00). Concurrently, 196 shares were withheld by the issuer to satisfy income tax obligations related to previously vested RSUs (disposition F at $51.48 per share, totaling approximately $10,090). The grant is an award, not a cash purchase.
Key Details
- Transaction dates: March 2, 2026 (reported on Form 4 filed March 3, 2026). No late filing is indicated in the excerpt.
- Grant: 506 RSUs granted (price $0.00) — each RSU represents a contingent right to one share at vesting.
- Tax withholding: 196 shares withheld at $51.48/share, proceeds ≈ $10,090 (reported as disposition code F).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1: RSUs granted under the 2019 Omnibus Stock Incentive Plan; vest in three equal installments on Mar 1, 2027; Mar 1, 2028; and Mar 1, 2029, subject to continued service.
- F2/F3: total share count (noted elsewhere) includes 81 shares from the 2010 DRIP and 9 shares from the 2025 ESPP.
- F4: the 196 shares represent shares withheld by the issuer to satisfy income tax obligations on prior RSU vesting.
Context
This was an equity award (RSUs) rather than an open-market buy or an option exercise. The withholding of 196 shares to cover taxes is a routine administrative action (cashless tax withholding) and does not imply an open-market sale by the insider. RSUs are contingent rights that convert to shares only upon vesting per the schedule above.
Insider Transaction Report
- Award
Common Stock
[F1][F2][F3]2026-03-02+506→ 5,645 total - Tax Payment
Common Stock
[F4]2026-03-02$51.48/sh−196$10,090→ 5,449 total
- 2,250
Incentive Stock Option (Right to Buy)
Exercise: $30.00From: 2017-08-23Exp: 2027-02-23→ Common Stock (2,250 underlying) - 2,250
Incentive Stock Option (Right to Buy)
Exercise: $34.10From: 2018-08-22Exp: 2028-02-22→ Common Stock (2,250 underlying)
Footnotes (4)
- [F1]Pursuant to the issuer's 2019 Omnibus Stock Incentive Plan, the reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. RSUs vest in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029, subject to continued service.
- [F2]Total shares includes 81 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.
- [F3]Total shares includes 9 shares acquired pursuant to the issuer's 2025 Employee Stock Purchase Plan.
- [F4]Represents shares of Common Stock withheld by the issuer to satisfy the reporting person's income tax obligations associated with the vesting of previously reported grants of restricted stock units.