8-K filed January 14, 2025, 6:59 PM ET ticker FRAF CIK 0000723646

leadership confidence high sentiment neutral materiality 0.60

Franklin Financial names Craig W. Best as President, CEO-elect to succeed retiring CEO Henry

FRANKLIN FINANCIAL SERVICES CORP /PA/

Best joined as President effective Jan 14, 2025; will become CEO after Henry's retirement on April 29, 2025.
Initial annual base salary $414,986; increases to $523,198 by no later than April 30, 2025.
Restricted stock grant of 1,500 shares, vesting six months and one day after Jan 14, 2025.
Relocation expenses reimbursed up to $50,000; company-provided automobile and club dues.
Best previously served as CEO and director of Peoples Financial Services Corp. until Dec 31, 2024.

item 5.02 item 9.01

Executive movements

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Departed

Timothy G. Henry

President and Chief Executive Officer

FRAF · FRANKLIN FINANCIAL SERVICES CORP /PA/

Effective: 2025-04-29
Successor: Craig W. Best
Filed: January 14, 2025, 6:59 PM ET

As previously disclosed, Timothy G. Henry, President and Chief Executive Officer of Franklin Financial Services Corporation (the “Corporation”) and President and Chief Executive Officer of its wholly-owned subsidiary, Farmers and Merchants Trust Company of Chambersburg (the “Bank”), announced his retirement effective April 29, 2025.

Appointed

Craig W. Best

Director (Class A)

FRAF · FRANKLIN FINANCIAL SERVICES CORP /PA/

Effective: 2025-01-16
Filed: January 14, 2025, 6:59 PM ET

effective January 16, 2025, Mr. Best will be appointed as a member (Class A) of the boards of directors of the Corporation and the Bank.

Appointed

Craig W. Best

President

FRAF · FRANKLIN FINANCIAL SERVICES CORP /PA/

Effective: 2025-01-14
Filed: January 14, 2025, 6:59 PM ET

On January 14, 2025, the Corporation announced that Craig W. Best had been selected as the successor to Mr. Henry and that he would be joining the Corporation and the Bank, as President effective January 14, 2025

Role change

Craig W. Best

President and Chief Executive Officer

FRAF · FRANKLIN FINANCIAL SERVICES CORP /PA/

Effective: 2025-04-29
Filed: January 14, 2025, 6:59 PM ET

Following Mr. Henry’s retirement, Mr. Best will be appointed as President and Chief Executive Officer of the Corporation and the Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy G. Henry departed as President and Chief Executive Officer at FRANKLIN FINANCIAL SERVICES CORP /PA/.

Action: announced retirement
Role: President and Chief Executive Officer

Exact text from the filing

As previously disclosed, Timothy G. Henry, President and Chief Executive Officer of Franklin Financial Services Corporation (the “Corporation”) and President and Chief Executive Officer of its wholly-owned subsidiary, Farmers and Merchants Trust Company of Chambersburg (the “Bank”), announced his retirement effective April 29, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig W. Best was appointed as Director (Class A) at FRANKLIN FINANCIAL SERVICES CORP /PA/.

Action: appointed
Role: Director (Class A)

Exact text from the filing

effective January 16, 2025, Mr. Best will be appointed as a member (Class A) of the boards of directors of the Corporation and the Bank.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig W. Best was appointed as President at FRANKLIN FINANCIAL SERVICES CORP /PA/.

Action: appointed
Role: President

Exact text from the filing

On January 14, 2025, the Corporation announced that Craig W. Best had been selected as the successor to Mr. Henry and that he would be joining the Corporation and the Bank, as President effective January 14, 2025

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig W. Best was appointed as President and Chief Executive Officer at FRANKLIN FINANCIAL SERVICES CORP /PA/.

Action: will be appointed
Role: President and Chief Executive Officer

Exact text from the filing

Following Mr. Henry’s retirement, Mr. Best will be appointed as President and Chief Executive Officer of the Corporation and the Bank.

View on SEC.gov

FRANKLIN FINANCIAL SERVICES CORP /PA/ filing history →

Source: SEC EDGAR

accession 0000723646-25-000003

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