{"schema_version":"secwatch.filing_event.v1","accession":"0000826154-24-000211","form_type":"8-K","ticker":"ORRF","cik":"0000826154","company_name":"ORRSTOWN FINANCIAL SERVICES INC","filed_at":"2024-09-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:15.992216+00:00","generated_at":"2026-05-31T01:57:53.178449+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"confidence":"high","headline":"Orrstown COO Kauffman retires Sept 30; CEO Quinn's retirement extended to May 2026","bullets":["EVP/COO Craig L. Kauffman retires effective Sept 30, 2024; receives $819,170/yr salary substitution payments until Apr 22, 2028.","Kauffman's restricted stock (13,333 shares) fully vested; Salary Continuation Agreement annual benefit raised to $150,000.","Non-compete extended to Apr 22, 2028; COBRA medical/dental premiums paid for 6 months; legal fees up to $35,000.","CEO Thomas R. Quinn's retirement date extended one year to May 25, 2026 by board vote.","Kauffman to provide up to 20 hrs transitional assistance through Dec 31, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0000826154-24-000211","json":"https://secwatch.observer/filing/0000826154-24-000211.json","markdown":"https://secwatch.observer/filing/0000826154-24-000211.md","text":"https://secwatch.observer/filing/0000826154-24-000211.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/826154/000082615424000211/0000826154-24-000211-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/826154/000082615424000211/orrf-20240925.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T01:57:53.178449+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"756bd85f0b","claim":"Thomas R. Quinn, Jr. changed role as President and Chief Executive Officer at ORRSTOWN FINANCIAL SERVICES INC.","evidence_excerpt":"On September 25, 2024, the Boards of Directors of the Company and the Bank voted to extend Mr. Quinn’s retirement date to May 25, 2026 and Mr. Quinn accepted this extension.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/826154/000082615424000211/0000826154-24-000211-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"extended retirement date"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"77e4dc69c6","claim":"Craig L. Kauffman retired as Executive Vice President, Chief Operating Officer and Director at ORRSTOWN FINANCIAL SERVICES INC.","evidence_excerpt":"In connection with Mr. Kauffman’s retirement, on September 25, 2024, the Company and the Bank entered into a Retirement Agreement with Mr. Kauffman (the “Retirement Agreement”) pursuant to which Mr. Kauffman resigned from all officer, director and other positions that he holds with the Company and the Bank effective September 30, 2024 (the “Effective Date”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/826154/000082615424000211/0000826154-24-000211-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"retired"},{"label":"Role","value":"Executive Vice President, Chief Operating Officer and Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}