0000826154-24-000160.txt : 20240703
0000826154-24-000160.hdr.sgml : 20240703
20240703161159
ACCESSION NUMBER: 0000826154-24-000160
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240701
FILED AS OF DATE: 20240703
DATE AS OF CHANGE: 20240703
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Carney Harland E. III
CENTRAL INDEX KEY: 0002028255
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34292
FILM NUMBER: 241100231
MAIL ADDRESS:
STREET 1: C/O ORRSTOWN FINANCIAL SERVICES INC
STREET 2: 77 E KING STREET, P O BOX 250
CITY: SHIPPENSBURG
STATE: PA
ZIP: 17257
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ORRSTOWN FINANCIAL SERVICES INC
CENTRAL INDEX KEY: 0000826154
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 232530374
STATE OF INCORPORATION: PA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 77 E KING STREET
STREET 2: P O BOX 250
CITY: SHIPPENSBURG
STATE: PA
ZIP: 17257
BUSINESS PHONE: 7175326114
MAIL ADDRESS:
STREET 1: 77 EAST KING STREET
CITY: SHIPPENSBURG
STATE: PA
ZIP: 17257
4
1
wk-form4_1720037513.xml
FORM 4
X0508
4
2024-07-01
0
0000826154
ORRSTOWN FINANCIAL SERVICES INC
ORRF
0002028255
Carney Harland E. III
4750 LINDLE ROAD
HARRISBURG
PA
17111
0
1
0
0
EVP, Market President
0
Orrstown Financial Services, Inc, Common Stock
2024-07-01
4
A
0
4369
0
A
4369
D
Orrstown Financial Services, Inc. Common, Restricted Stock
2024-07-01
4
A
0
6667
0
A
6667
D
On July 1, 2024, Codorus Valley Bancorp, Inc. (CVLY) merged with and into Orrstown Financial Services, Inc. (ORRF). Pursuant to the merger, each share of CVLY common stock held by the reporting person was converted into the right to receive 0.875 shares of ORRF common stock (the Exchange Ratio), with an amount in cash, without interest, to be paid in lieu of fractional shares at $25.40 per share. The closing price of ORRF common stock on June 28, 2024 was $27.36 per share.
Represents an award of shares of restricted stock of ORRF vesting on July 28, 2025 upon achievement of targeted expense savings based on ORRFs going forward annual expense run rate at June 30, 2025 compared to the combined reported expenses of ORRF and CVLY (excluding merger-related and other extraordinary expenses in both cases) for the year ended December 31, 2023.
/s/ Casara I Kieffer as P.O.A.
2024-07-03