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