Orrstown Financial (ORRF) EVP Matthew Alpert Receives 15,000-Share Award

What Happened
Matthew D. Alpert, EVP & Chief Wealth Officer of Orrstown Financial Services, was granted 15,000 restricted shares on May 5, 2026. The award was recorded at $0.00 per share (total reported acquisition value $0) and is coded as an award/grant (transaction code A). This is a compensation/retention award rather than an open‑market purchase or a sale.

Key Details

• Transaction date: 2026-05-05; Price: $0.00; Shares granted: 15,000 (code A — award/grant).
• Filing date: 2026-05-06 (Form 4 filed the next day; appears timely).
• Shares owned after transaction: not specified in the provided data.
• Footnote F1: These are restricted stock units/shares with various vesting dates over the next three years.
• No indication of a 10b5-1 plan, sale, exercise, or tax‑withholding event in the provided details.

Context
Restricted stock awards are common executive compensation used for retention and aligning pay with long‑term performance; they typically vest over time and are not immediate cash or market purchases. Because this filing records an award (not a sale), it should be viewed as a compensation action rather than a direct signal of insider buying or selling activity.