Franklin Financial (FRAF) SVP Matthew D. Weaver Exercises Options

What Happened

• Matthew D. Weaver, SVP & Chief Marketing Officer of Franklin Financial Services Corp. (FRAF), exercised 2,250 stock options on July 31, 2026 under the company's 2013 Incentive Stock Option Plan.
• The options had an exercise price of $30.00, for a total exercise cost of $67,500. To fund the cashless exercise and satisfy tax withholding, the issuer withheld 1,070 shares at the market price of $63.11 (value ~$67,528). Net shares retained from this transaction: 1,180 (2,250 exercised less 1,070 withheld).
• This was an option exercise with share withholding (a routine monetization/tax-withholding mechanism), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-31. Filing date: 2026-08-03 (appears to be filed within the normal Form 4 window).
• Option exercise: 2,250 shares exercised at $30.00/share = $67,500.
• Withholding/tax disposition: 1,070 shares withheld at $63.11/share = $67,528 (transaction code F).
• Net shares added to Weaver's account from this exercise: 1,180 shares.
• Footnotes: F1 confirms shares were withheld by the issuer at $63.11 less the $30.00 exercise price to fund the cashless exercise; F2 notes total includes 16 shares from the company's Dividend Reinvestment & Stock Purchase Plan; F3 notes previously reported unvested restricted stock units are included in total holdings.
• Shares owned after the transaction are not explicitly stated in the provided filing summary.

Context

• Cashless option exercises (withholding of shares to cover exercise price/taxes) are common for executives converting options to stock and do not necessarily signal a buy or sell view on the stock — they primarily realize vested compensation.
• This filing reflects an exercise of derivative securities (code M) with tax withholding (code F); it is different from an open-market purchase (P) or a sale (S) that might more directly indicate insider conviction.