secwatch.observer — SEC 8-K summary
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Issuer:     SUMMIT FINANCIAL GROUP, INC. (—)
CIK:        0000811808
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001437749-24-014543
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Burke & Herbert completes merger with Summit Financial Group, exchange ratio 0.5043
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- Each Summit common share converted into 0.5043 Burke & Herbert shares; ~7.4M shares issued as consideration.
- Summit's common stock delisted from Nasdaq; intends to file Form 15 to suspend SEC reporting obligations.
- Summit directors and executive officers resigned; eight Summit directors appointed to Burke & Herbert board.
- H. Charles Maddy III named President of Burke & Herbert; other Summit executives appointed to key roles.
- Summit preferred stock converted into new Burke & Herbert Series 2021 Preferred Stock with 6% dividend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811808/000143774924014543/0001437749-24-014543-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811808/000143774924014543/smmf20240503_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014543

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer