Mulcahy Sean 4

What Happened Sean Mulcahy, Chief Accounting Officer of Orrstown Financial Services, was awarded 867 time‑vested restricted shares (no cash purchase) and concurrently had 162 shares disposed to satisfy a tax liability. The 162 shares were sold at $37.64 each for proceeds of $6,098; the 867 shares were granted with $0 purchase price as restricted stock.

Key Details

• Transaction date: 2026-02-17 for both the grant and the tax-withholding disposal.
• Disposal: 162 shares at $37.64, total $6,098 (code F — payment of exercise price or tax liability).
• Acquisition: 867 shares granted at $0.00 (code A — award/grant of restricted stock).
• Vesting: Footnote notes these are time-vested restricted shares with various vesting dates over the next three years.
• Ownership after transaction: filing does not list a total post-transaction beneficial ownership; filing notes 300 shares are owned jointly with the reporting person’s spouse.
• Filing timeliness: no late‑filing indicator provided in the summary information.

Context The 162‑share sale appears to be a tax‑withholding or similar disposition tied to the award and is a routine administrative step rather than an open‑market sell signal. The 867 shares are restricted stock that will vest over time, so they are not an immediate market purchase. Awards like this are common compensation and do not, by themselves, indicate management sentiment about the stock.