Butz Steven D 4

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.