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Matthew D. Weaver, the Senior Vice President and Chief Marketing Officer of Franklin Financial Services Corp (NASDAQ:FRAF), recently purchased shares of the company’s common stock. According to a recent SEC filing, Weaver acquired 186 shares at a price of $37.69 per share, amounting to a total purchase value of $7,010.
Additionally, Weaver was granted 340 restricted stock units (RSUs) as part of the company’s 2019 Omnibus Stock Incentive Plan. These RSUs, which do not involve any immediate cash transaction, are set to vest in three equal installments starting March 1, 2026, contingent upon continued service with the company. Following these transactions, Weaver now holds a total of 2,327 shares directly in the company, which has maintained dividend payments for 42 consecutive years and currently offers a 3.4% dividend yield. Discover more valuable insights about FRAF with InvestingPro, which offers additional exclusive ProTips and detailed financial metrics.
In other recent news, Franklin Financial Services Corp announced that its Board of Directors declared a regular cash dividend for the first quarter of 2025, maintaining the payout at $0.32 per share, consistent with the previous quarter. Additionally, the company has approved a new share repurchase program, authorizing the buyback of up to 150,000 shares of common stock. This move is part of Franklin Financial’s capital management strategy, reflecting confidence in its financial stability. In another development, Franklin Financial Services Corp appointed Craig W. Best as the new President and CEO, succeeding Timothy G. Henry, who will retire on April 29, 2025. Best, who has a notable background in the banking industry, will assume the role of President immediately and transition to CEO upon Henry’s retirement. His employment agreement includes an initial annual base salary and various benefits. These recent developments were reported in the company’s SEC filings and press release statements.
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