Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain officers; Compensatory provisions of certain executives
(D) Meera R. Modi was appointed to the board of directors of Orrstown Financial Services, Inc. (the “Company”) and its banking subsidiary, Orrstown Bank
(the “Bank”), from March 10, 2022. Ms Modi is a leading corporate mergers and acquisitions lawyer and a member of McNees Wallace & Nurick LLC in
Harrisburg, Pennsylvaniawhere she guides clients through strategic projects as well as day-to-day operations.
Ms Modi will sit in the Company Active/Liabilities Committee and Enterprise Risk Management Committee. She will be entitled to receive the same compensation paid to non-employee directors of the Company, which currently consists of an annual retainer and annual stock awards paid under the Company’s stock incentive plan. Ms Modi will also have the opportunity to participate in the non-qualified deferred compensation plan of the Company on the same terms as those offered to all other non-employee directors of the Company.
There are no family relations between Ms Modi and any director, officer or any person designated or chosen by the Company to become a director or officer. No information should be disclosed regarding
Ms Modi pursuant to Rule SK 404(a).
A copy of the press release announcing At Mrs. Modi’s appointment to the Board of Directors of the Corporation and the Bank is filed herein as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial statements and supporting documents
The following exhibit is provided as part of this current report on Form 8-K:
Exhibit No. Description
99 Press Release dated March 10, 2022
Cover Page Interactive Data File (embedded within the inline XBRL
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