ZULLINGER JOEL R 4

What Happened

• Joel R. Zullinger, a director of Orrstown Financial Services, received a grant of 2,600 restricted shares on 2026-05-05. The Form 4 reports the acquisition price as $0.00 (total reported value $0), indicating these shares were awarded rather than purchased.

Key Details

• Transaction date: 2026-05-05; Form 4 filed: 2026-05-06 (filed the next day, within the usual 2-business-day window).
• Transaction type: A = Award/Grant (restricted stock).
• Shares granted: 2,600; reported acquisition price: $0.00; reported total value: $0.
• Ownership note (footnote F2): the filing states inclusion of 3,605 shares owned jointly with the reporting person’s spouse.
• Vesting/nature (footnote F1): the restricted shares vest in installments over the next ~18 months.
• No sale or option exercise reported in this filing.

Context

• Restricted stock awards are typically compensation for service and usually vest over time; they are not an immediate market purchase and do not necessarily signal a buy/sell intent. Because these shares are subject to vesting (per F1), they may not be transferable or marketable until vesting conditions are met. The joint ownership note (F2) affects how total beneficial ownership is reported but does not imply a market transaction.