Bowling Ronald L 4
4 · Burke & Herbert Financial Services Corp. · Filed May 6, 2024
Insider Transaction Report
Form 4
Bowling Ronald L
Other
Transactions
- Award
Common Stock
2024-05-03+4,537→ 4,537 total - Award
Preferred Stock
2024-05-03+10→ 10 total
Footnotes (2)
- [F1]Pursuant to the terms of the Agreement and Plan of Reorganization (the "Merger Agreement"), dated as of August 24, 2023, by and between Burke & Herbert Financial Services Corp. ("Burke & Herbert") and Summit Financial Group, Inc. ("Summit"), on May 3, 2024 (the "Closing Date") Summit merged with and into Burke & Herbert (the "Merger"), with Burke & Herbert continuing as the surviving company of the Merger. Pursuant to the Merger Agreement, on the Closing Date each share of Summit common stock held by the reporting person was converted into the right to receive 0.5043 of a share of common stock of Burke & Herbert rounded down to the nearest whole number of shares. The closing price of Burke & Herbert's common stock on May 2, 2024, was $51.67 per share.
- [F2]Pursuant to the Merger Agreement, each share of Summit preferred stock held by the reporting person was converted into the right to receive one share of Burke & Herbert preferred stock.