Summit Financial (SMMF) Form 4 SUMMIT FINANCIAL / PATRICK FRYE ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FRYE PATRICK

(Last) (First) (Middle)

PO BOX 891

(Street)

MOOREFIELD WV 26836

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SUMMIT FINANCIAL GROUP, INC. [ SMMF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Sr. VP & Chief of Credit Admin

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/14/2023(2)		J		1,330.0184(3)	A	$0	14,664.54	I	By ESOP
Common Stock								20,815	D
Common Stock								1,500	I	As CUST for Grandchildren

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock-Settled Stock Appreciation Rights	$12.01							04/22/2016(1)	04/23/2025	Common Stock	3,522.6		3,522.6	D
Stock-Settled Stock Appreciation Rights	$26.01							02/09/2018(1)	02/09/2027	Common Stock	5,604		5,604	D
Stock-Settled Stock Appreciation Rights	$23.94							02/07/2020(1)	02/07/2029	Common Stock	11,515		11,515	D
Stock-Settled Stock Appreciation Rights	$21.85							07/15/2022(1)	07/15/2031	Common Stock	16,677		16,677	D
Stock-Settled Stock Appreciation Rights	$26.37							02/09/2024(1)	02/09/2033	Common Stock	16,153		16,153	D

Explanation of Responses:

1. SAR vests in 5 equal annual installments with the beginning date indicated.

2. The information reported herein is based on a plan statement dated 12/31/2022 received in April 2023

3. Between January 1, 2022 and December 31, 2022, acquired 1330.0184 shares of Summit Common Stock under the Summit Financial Group, Inc. Employee Stock Ownership Plan.

	/s/ Teresa D Ely, Lmtd POA, Attorney-in-Fact	04/14/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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