ORRF EVP Michael Jaeger Sells 296 Shares for Tax Withholding

What Happened Michael Jaeger, Executive Vice President and Chief Experience Officer of Orrstown Financial Services, disposed of 296 shares on July 1, 2026 to satisfy a tax liability related to equity vesting. The shares were valued at $40.83 each, for a total of approximately $12,086. This was a withholding/disposition to meet tax obligations (transaction code F), not a purchase.

Key Details

• Transaction date: 2026-07-01; filing date: 2026-07-02 (timely).
• Shares disposed: 296 at $40.83 per share; total value ≈ $12,086.
• Transaction code: F — payment of exercise price or tax liability (withholding/surrender).
• Footnotes in filing: F1 — restricted stock with various vesting dates over the next 3 years; F2 — restricted stock units vesting three years after award subject to performance criteria.
• Shares owned after transaction: not specified in the summary filing.

Context This disposition appears to be a routine tax withholding/surrender tied to equity awards vesting rather than an open-market sale for investment purposes. Such withholding transactions are common when restricted stock or RSUs vest and generally reflect administrative tax obligations rather than a directional bet by the insider.