Markwood Julie R 4

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

Form 4

Period: 2024-05-03

Chief Accounting Officer

Transactions

Award
Common Stock
2024-05-03+6,854→ 6,854 total(indirect: By Trust)
Award
Common Stock
2024-05-03+2,046→ 2,046 total
Award
Common Stock
2024-05-03+127→ 127 total(indirect: By Children)
Award
Stock Settled Appreciation Rights
2024-05-03$43.33/sh+2,954$127,997→ 2,954 total
Exercise: $43.33From: 2021-07-15Exp: 2031-07-15→ Common Stock (2,954 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$51.58/sh+1,413$72,883→ 1,413 total
Exercise: $51.58From: 2017-02-09Exp: 2027-02-09→ Common Stock (1,413 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$47.47/sh+2,939$139,514→ 2,939 total
Exercise: $47.47From: 2019-02-07Exp: 2029-02-07→ Common Stock (2,939 underlying)
Award
Stock Settled Appreciation Rights
2024-05-03$52.29/sh+2,841$148,556→ 2,841 total
Exercise: $52.29From: 2023-02-09Exp: 2033-02-09→ Common Stock (2,841 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

1 file