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ORRF > SEC Filings for ORRF > Form 8-K on 26-Aug-2013All Recent SEC Filings




Change in Directors or Principal Officers, Regulation FD Disclosu

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 22, 2013, Orrstown Financial Services, Inc. (the "Company"), appointed Eric A. Segal to the Board of Directors of Orrstown Bank (the "Bank") and the Company effective as of such date. In addition, effective August 22, 2013, John S. Ward, a director of the Company and the Bank since 1999, retired from the Board of Directors of the Company and the Bank. Mr. Segal will fill the vacancy on the Board of Directors of the Company and the Bank created by Mr. Ward's retirement. Following his retirement, Mr. Ward will serve as an Emeritus Director of the Company and the Bank.

It is anticipated that Mr. Segal will be appointed to the Asset Liability Committee of the Company's Board of Directors. There are no arrangements or understandings between Mr. Segal and any other person pursuant to which Mr. Segal was selected as a director of the Company and the Bank. There are no business relationships between the Company and Mr. Segal that require disclosure pursuant to Item 404(a) of Regulation S-K. The Company has not entered into any material plan, contract or arrangement with Mr. Segal in connection with his appointment to the Board of Directors. However, Mr. Segal will receive the same compensation and other benefits as provided to other non-employee directors of the Company as described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 26, 2013.

A copy of the press release is filed as Exhibit 99 hereto and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

On August 22, 2013, the Bank issued a press release announcing the appointments discussed herein.

                 Section 9 - Financial Statements and Exhibits

Item 9.01           Financial Statements and Exhibits.

(d)      Exhibits

Exhibit No.                      Description

99                      Press Release dated August 22, 2013

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