Orrstown Financial (ORRF) Director Michael Rice Receives 1,500-Share Award

What Happened

• Michael John Rice, a director of Orrstown Financial Services, was granted 1,500 restricted shares on 2026-05-05. The shares were issued at $0.00 per share (total reported value $0) as an award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-05; Form 4 filed: 2026-05-06 (filed one day after the transaction).
• Consideration: 1,500 shares at $0.00 per share (total $0).
• Shares owned after transaction: not specified in the provided filing.
• Footnote: F1 — these are restricted shares with various vesting dates over the next 18 months.
• Transaction type: Award/Grant (code A). No sale or exercise reported.

Context

• Restricted stock awards are typically compensation and vest over time; they do not indicate an immediate market purchase or sale. Vesting schedules and any future sales after vesting could be more informative about the insider’s view. This filing appears timely (filed the next day).