MADDY H CHARLES III 4

4 · Burke & Herbert Financial Services Corp. · Filed May 6, 2024

Form 4

Period: 2024-05-03

DirectorPresident

Transactions

Award
Stock Settled Appreciation Rights
2024-05-03$23.82/sh+10,544$251,158→ 10,544 total
Exercise: $23.82From: 2015-04-23Exp: 2025-04-23→ Common Stock (10,544 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$51.58/sh+7,901$407,534→ 7,901 total
Exercise: $51.58From: 2017-02-09Exp: 2027-02-09→ Common Stock (7,901 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$47.47/sh+15,934$756,387→ 15,934 total
Exercise: $47.47From: 2019-02-07Exp: 2029-02-07→ Common Stock (15,934 underlying)
Award
Common Stock
2024-05-03+19,592→ 19,592 total(indirect: By Spouse)
Award
Common Stock
2024-05-03+20,802→ 20,802 total
Award
Common Stock
2024-05-03+16,965→ 16,965 total(indirect: By Trust)
Award
Stock Settled Appreciation Rights
2024-05-03$43.33/sh+15,616$676,641→ 15,616 total
Exercise: $43.33From: 2021-07-15Exp: 2031-07-15→ Common Stock (15,616 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$52.29/sh+14,823$775,095→ 14,823 total
Exercise: $52.29From: 2023-02-09Exp: 2033-02-09→ Common Stock (14,823 underlying)

Footnotes (3)

[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]The Summit ESOP was terminated pursuant to the Merger Agreement.
[F3]Represents stock appreciation rights ("SARs") that were converted from Summit SARs into Burke & Herbert SARs pursuant to the Merger Agreement.

Documents

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