---
schema_version: "secwatch.filing_event.v1"
accession: "0000723646-25-000003"
form_type: "8-K"
ticker: "FRAF"
cik: "0000723646"
company_name: "FRANKLIN FINANCIAL SERVICES CORP /PA/"
filed_at: "2025-01-14T23:59:59+00:00"
generated_at: "2026-05-28T02:28:41.791930+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000723646-25-000003
- form_type: 8-K
- ticker: FRAF
- cik: 0000723646
- company_name: FRANKLIN FINANCIAL SERVICES CORP /PA/
- filed_at: 2025-01-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/0000723646-25-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/fraf-20250114x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000723646-25-000003
- JSON: https://secwatch.observer/filing/0000723646-25-000003.json
- Plain text: https://secwatch.observer/filing/0000723646-25-000003.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/0000723646-25-000003-index.htm
- Executive change
  Craig W. Best was appointed as Director (Class A) at FRANKLIN FINANCIAL SERVICES CORP /PA/.
  - Action: appointed
  - Role: Director (Class A)
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/0000723646-25-000003-index.htm
- Executive change
  Craig W. Best was appointed as President at FRANKLIN FINANCIAL SERVICES CORP /PA/.
  - Action: appointed
  - Role: President
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/0000723646-25-000003-index.htm
- Executive change
  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
  source text: Following Mr. Henry’s retirement, Mr. Best will be appointed as President and Chief Executive Officer of the Corporation and the Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723646/000072364625000003/0000723646-25-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.