TISSUE ROBERT S 4
4 · Burke & Herbert Financial Services Corp. · Filed May 6, 2024
Insider Transaction Report
Form 4
TISSUE ROBERT S
EVP, Financial Strategy
Transactions
- Award
Common Stock
[F1]2024-05-03+30,254→ 30,254 total - Award
Common Stock
[F1]2024-05-03+373→ 373 total(indirect: By Spouse) - Award
Common Stock
[F1][F2]2024-05-03+9,865→ 9,865 total(indirect: By Trust) - Award
Stock Settled Appreciation Rights
[F3]2024-05-03$23.82/sh+5,430$129,343→ 5,430 totalExercise: $23.82From: 2015-04-23Exp: 2025-04-23→ Common Stock (5,430 underlying) - Award
Stock Settled Appreciation Rights
[F3]2024-05-03$51.58/sh+4,110$211,994→ 4,110 totalExercise: $51.58From: 2017-02-09Exp: 2027-02-09→ Common Stock (4,110 underlying) - Award
Stock Settled Appreciation Rights
[F3]2024-05-03$47.47/sh+8,599$408,195→ 8,599 totalExercise: $47.47From: 2019-02-07Exp: 2029-02-07→ Common Stock (8,599 underlying) - Award
Stock Settled Appreciation Rights
[F3]2024-05-03$43.33/sh+8,684$376,278→ 8,684 totalExercise: $43.33From: 2021-07-15Exp: 2031-07-15→ Common Stock (8,684 underlying) - Award
Stock Settled Appreciation Rights
[F3]2024-05-03$52.29/sh+8,436$441,118→ 8,436 totalExercise: $52.29From: 2023-02-09Exp: 2033-02-09→ Common Stock (8,436 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.
Signature
/s/ Kirtan Parikh, as Attorney-in-Fact for Robert S. Tissue|2024-05-06