Franklin Financial (FRAF) SVP Karen Carmack Exercises Options

What Happened Karen K. Carmack, Senior Vice President and Chief Human Resources Officer of Franklin Financial Services (FRAF), exercised options to acquire 4,500 shares on July 29, 2026. The exercises were for 2,250 shares at $30.00 (cost $67,500) and 2,250 shares at $34.10 (cost $76,725), for a total exercise cost of $144,225. To fund the cashless exercises, the issuer withheld 1,055 and 1,200 shares (2,255 total) at the market price used in the filing ($63.99), valued at $67,509 and $76,788 respectively. After withholding, Carmack received a net of 2,245 shares.

Key Details

• Transaction date: 2026-07-29; Form 4 filed 2026-07-30 (timely).
• Options exercised: 4,500 shares total — 2,250 @ $30.00 and 2,250 @ $34.10.
• Gross exercise cost: $144,225; shares withheld to cover exercise/taxes: 2,255 shares at $63.99 (total ~$144,297).
• Net shares received by insider: 2,245 shares.
• Footnotes: F1/F3 confirm shares were withheld by the issuer to fund cashless exercise; F2 notes inclusion of previously reported unvested restricted stock units.
• Shares owned after transaction: not specified in the filing.

Context

• This was an option exercise with a cashless settlement: rather than paying cash, shares were withheld to cover exercise price/taxes. Cashless exercises and withholding are common and routine for option maturations and do not by themselves indicate buying or selling intent in the open market.
• No 10% owner or gift reporting issues; this is an executive exercising options as part of compensation.