Rice Michael John 4

What Happened
Michael J. Rice, a director of Orrstown Financial Services, was granted 1,000 shares as an award on January 29, 2026. The Form 4 reports the acquisition code A (award) at $0.00 per share (total reported value $0), indicating a restricted stock grant rather than an open-market purchase.

Key Details

• Transaction date: 2026-01-29; Form 4 filed 2026-02-02 (timely filed within the SEC’s two-business-day window).
• Shares granted: 1,000 restricted shares; price per share reported $0.00; total reported value $0.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: F1 — restricted stock with vesting date of May 3, 2027; F2 — additional restricted stock with various vesting dates over the next ~18 months.
• Transaction type code: A = award/acquisition (restricted stock grant).

Context
This was a compensation-related award (restricted stock) to a director, not a market purchase or sale. Restricted shares are subject to vesting schedules (see footnotes), so they do not represent immediately liquid holdings. Such awards are common for board compensation and do not by themselves indicate a buy/sell signal.