Long David M 4

What Happened

• David M. Long, SVP & Chief Technology Officer of Franklin Financial Services Corp (FRAF), was granted 542 restricted stock units (RSUs) on 2026-03-02 (reported 2026-03-03). The grant is recorded as an award/acquisition (code A) and required no cash payment at grant.
• On the same date, 169 shares were disposed (code F) at $51.48 each to satisfy income tax withholding obligations tied to previously vested RSUs, with a reported value of approximately $8,700. This disposal was to cover taxes, not an open-market sale.

Key Details

• Transaction date: 2026-03-02; Form filed: 2026-03-03 (timely).
• Grant: 542 RSUs (no cash paid at grant). RSUs vest in three equal installments on 2027-03-01, 2028-03-01, and 2029-03-01, subject to continued service (footnote F1).
• Tax withholding: 169 shares withheld at $51.48/share = $8,700 (footnote F3 indicates shares were withheld to satisfy income tax on previously reported RSU vesting).
• Filing notes total share count includes 6 shares from the issuer's Dividend Reinvestment and Stock Purchase Plan (footnote F2).
• Shares owned after the transactions are not specified in the provided filing excerpt.

Context

• RSU grants are a form of equity compensation that represent a contingent right to receive stock in the future; the grant itself is not a market purchase and does not imply an immediate cash outlay.
• The 169-share disposition was a routine withholding for taxes (a cashless tax withholding), which is different from an open-market sale and is common when restricted awards vest.
• This filing is informational and routine—no evidence here of a discretionary open-market purchase or sale that would signal a trading view by the insider.