Butz Steven D 4

4 · FRANKLIN FINANCIAL SERVICES CORP /PA/ · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

Franklin Financial (FRAF) EVP Steven Butz Receives Award; Withholds Shares

What Happened

Steven D. Butz, EVP and Chief Credit & Security Officer of Franklin Financial Services (FRAF), was granted 794 restricted stock units (RSUs) on 2026-03-02 (award code A). Those RSUs are a contingent right to receive one share per RSU upon vesting.
On the same date the issuer withheld 386 shares (disposition code F) at a per-share value of $51.48 to satisfy income tax withholding associated with previously reported RSU vestings, representing $19,871 withheld. The RSU grant itself carried no cash purchase price ($0).

Key Details

Transaction date: 2026-03-02; filing date (Form 4): 2026-03-03 (timely).
Grant: 794 RSUs (code A) — no cash paid; vesting in three equal installments on Mar 1, 2027; Mar 1, 2028; Mar 1, 2029, subject to continued service (footnote F1).
Withholding: 386 shares withheld at $51.48/share for tax obligations, total value $19,871 (code F). Footnote F2 confirms withholding satisfied income tax on previously reported RSU vesting.
Shares owned after the transaction: not specified in the filing.

Context

RSU grants are compensation awards, not open‑market purchases — they convert to shares only as they vest. The 386‑share disposition is a tax withholding action, not a voluntary sale; such withholdings are routine when RSUs vest.
This filing reflects routine equity compensation and withholding rather than an insider buying or selling stock as a market signal.

Form 4

Period: 2026-03-02

EVP, CCSO

Transactions

Holdings

Incentive Stock Option (Right to Buy)
Exercise: $30.00From: 2017-08-23Exp: 2027-02-23→ Common Stock (2,700 underlying)
2,700
Incentive Stock Option (Right to Buy)
Exercise: $34.10From: 2018-08-22Exp: 2028-02-22→ Common Stock (2,700 underlying)
2,700

Footnotes (2)

[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]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.

Signature

/s/Amanda M. Ducey by Power of Attorney for Steven D. Butz|2026-03-03

1 file