Jaeger Michael 4

What Happened

• Michael Jaeger, Executive Vice President & Chief Experience Officer at Orrstown Financial (ORRF), received two equity awards on 2026-02-17 totaling 2,165 shares (1,083 + 1,082) granted at $0.00.
• On the same date 399 shares were disposed (code F) at $37.64 per share to cover an exercise price or tax liability, generating proceeds of $15,018.
• The grants appear to be restricted stock / restricted stock units (no cash paid for the awards); the 399-share disposition was a tax/withholding-related transaction, not an open-market sale.

Key Details

• Transaction date: 2026-02-17; filing date: 2026-02-19 (timely filing).
• Grants: 1,083 shares @ $0.00 and 1,082 shares @ $0.00 (total 2,165 shares).
• Withholding/Disposition: 399 shares @ $37.64 = $15,018.
• Shares owned after transaction: not specified in the provided filing summary.
• Footnotes:
  • F1: Restricted stock with various vesting dates over the next three years.
  • F2: Restricted stock units that vest three years after grant based on pre-established company performance criteria.
• Transaction codes: A = award/grant, F = payment of exercise price or tax liability (withholding).

Context

• These awards are compensation-related (restricted stock / RSUs). Grants at $0.00 are standard for RSU/restricted stock awards and vest over time or upon performance targets.
• The 399-share disposition is a routine tax-withholding or exercise-price payment and should not be read as an outright sale expressing market sentiment.
• Purchases/acquisitions (awards) generally convey more direct executive alignment with company performance than routine withholding events.