Schmidt Jennifer Palmer 4

What Happened

• Jennifer Schmidt, EVP and Chief Risk Officer of Burke & Herbert Financial Services Corp. (BHRB), had 271 shares disposed on 2026-05-03 as payment for tax liability related to an equity award or option event. The shares were valued at $64.64 each, totaling approximately $17,517.
• This was a tax-withholding disposition (not an open-market sale). Such withholdings are routine administrative actions to satisfy tax obligations and are not the same as a voluntary sale intended to raise cash or signal sentiment.

Key Details

• Transaction date: 2026-05-03; filing date: 2026-05-04 (timely).
• Price per share: $64.64; shares withheld/disposed: 271; aggregate value: ~$17,517.
• Transaction code: F — payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares owned following the transaction: not specified in the provided filing excerpt.
• No indication of a 10b5-1 plan or late filing in this report.

Context

• This type of disposition commonly occurs when restricted stock units vest or options are exercised and the company withholds a portion of shares to cover required taxes (a cashless/withholding settlement). It is generally considered administrative and does not necessarily reflect the insider’s view on the stock.