Weaver Matthew D 4
4 · FRANKLIN FINANCIAL SERVICES CORP /PA/ · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Franklin Financial (FRAF) SVP Matthew Weaver Receives RSU Award
What Happened
Matthew D. Weaver, SVP and Chief Marketing Officer of Franklin Financial Services Corp (FRAF), was granted 443 restricted stock units (RSUs) on 2026-03-02 (reported acquisition at $0.00). On the same date the issuer withheld 159 shares to satisfy income tax obligations related to previously vested RSUs; those 159 shares were reported disposed at $51.48 each for a tax-withholding value of $8,185.
Key Details
- Transaction dates: March 2, 2026 (reported on Form 4 filed 2026-03-03).
- Grant: 443 RSUs reported at $0.00 (award/vesting entitlement).
- Withholding/tax disposition: 159 shares at $51.48 each, total $8,185 (reported as tax withholding).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes:
- F1: RSUs granted under the 2019 Omnibus Stock Incentive Plan; each RSU converts to one share and vests in three equal installments on 3/1/2027, 3/1/2028 and 3/1/2029, subject to continued service.
- F2: Total share count (in full filing) includes 49 shares from the issuer’s 2010 Dividend Reinvestment and Stock Purchase Plan.
- F3: The 159-share disposition represents issuer withholding to satisfy income tax obligations from prior RSU vesting.
- Filing timeliness: Form 4 was filed the next day (March 3) for transactions dated March 2 — appears timely.
Context
This was primarily an equity award (RSUs) grant, not an open-market purchase or a voluntary sale. The 159-share “disposition” is a routine, issuer-initiated withholding to pay income taxes on vested equity and does not necessarily indicate a voluntary sale by the insider. RSUs are contingent rights to receive shares upon vesting rather than immediate cash purchases.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-03-02+443→ 3,873 total - Tax Payment
Common Stock
[F3]2026-03-02$51.48/sh−159$8,185→ 3,714 total
- 2,250
Incentive Stock Option (Right to Buy)
Exercise: $30.00From: 2017-08-23Exp: 2027-02-23→ Common Stock (2,250 underlying) - 2,250
Incentive Stock Option (Right to Buy)
Exercise: $34.10From: 2018-08-22Exp: 2028-02-22→ Common Stock (2,250 underlying)
Footnotes (3)
- [F1]Pursuant to the issuer's 2019 Omnibus Stock Incentive Plan, the reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock for each RSU. RSUs vest in three equal installments on March 1, 2027, March 1, 2028, and March 1, 2029, subject to continued service.
- [F2]Total shares includes 49 shares acquired pursuant to the issuer's 2010 Dividend Reinvestment and Stock Purchase Plan.
- [F3]Represents shares of Common Stock withheld by the issuer to satisfy the reporting person's income tax obligations associated with the vesting of previously reported grants of restricted stock units.