Annas Christopher J. 4

What Happened

• Christopher J. Annas, Chairman & CEO of Meridian Corp (MRBK), exercised 42,000 employee stock options on June 8, 2026. The exercise generated 42,000 common shares at an effective price of $7.62 per share (total value reported $320,040).
• As part of the exercise, the issuer withheld 16,642 shares to satisfy the exercise price/tax obligations (reported disposal of 16,642 shares at $19.23 per share, total $320,026). The filing also shows the related derivative (the options) being converted/cancelled (42,000 derivative units disposed at $0.00).

Key Details

• Transaction date: June 8, 2026; Form 4 filed June 10, 2026 (two days after the transaction).
• Option exercise (code M): 42,000 shares acquired @ $7.62, $320,040 reported.
• Withholding/tax settlement (code F): 16,642 shares withheld @ $19.23, $320,026 reported.
• Derivative conversion: 42,000 option units disposed @ $0.00 (reflects cancellation/conversion of the exercised options).
• Net shares issued to the insider: 42,000 − 16,642 = 25,358 shares retained by Mr. Annas after withholding.
• Shares owned after the transaction: not specified in this filing.
• Footnotes: F1 = gross exercise of 42,000 employee stock options; F2 = 16,642 shares withheld by the issuer to satisfy exercise price/taxes.

Context

• This was an option exercise with shares withheld to cover the exercise price/taxes (a common cashless exercise method), not an open-market purchase or sale of additional shares. The withholding reduces the net new shares the insider actually received.
• Exercises convert derivative rights (options) into common stock and are routine for option holders; they do not by themselves indicate a buy/sell market signal.