Colvard Benjamin H IV 4

What Happened Benjamin H. Colvard IV, Executive Vice President and Chief Operations Officer of Orrstown Financial Services Inc. (ORRF), was awarded two grants on 2026-02-17 totaling 3,094 shares (1,547 + 1,547). Each grant was reported at $0.00 per share on the Form 4 (aggregate reported value $0), reflecting restricted stock and restricted stock units rather than an open‑market purchase or sale. This is a compensation award, not a cash purchase or sale.

Key Details

• Transaction date: 2026-02-17; filing date: 2026-02-19 (filed timely).
• Grants: two awards of 1,547 shares each (total 3,094 shares) recorded at $0.00 per share.
• Footnote F1: Restricted stock with various vesting dates over the next three years.
• Footnote F2: Restricted stock units vesting three years after the award based on pre-established company performance criteria.
• Shares owned after the transaction: not specified in the provided summary of the Form 4.

Context Restricted stock and RSU grants are standard executive compensation intended to retain management and align pay with company performance. These awards are not a direct market purchase or sale and should not be interpreted alone as a bullish or bearish signal. Vesting and performance conditions (noted in the footnotes) determine when the insider will actually realize economic value from these shares; tax withholding or other withholding may apply when they vest.