FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

JENNINGS SCOTT C		 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)
EVP & COO
(Last)          (First)          (Middle)

PO BOX 438		 3. Date of Earliest Transaction (MM/DD/YYYY)

2/3/2023
(Street)

MOOREFIELD, WV 26836
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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         11956.1405 (2)I By ESOP 
Common Stock 2/3/2023  P  200 A$26.21 13582.8842 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock-Settled Stock Appreciation Rights $12.01           4/23/2016 (1)4/23/2025 Common Stock 17947  17947 D  
Stock-Settled Stock Appreciation Rights $26.01           2/9/2018 (1)2/9/2027 Common Stock 8151  8151 D  
Stock-Settled Stock Appreciation Rights $23.94           2/7/2020 (1)2/7/2029 Common Stock 17052  17052 D  
Stock-Settled Stock Appreciation Rights $21.85           7/15/2022 (1)7/15/2031 Common Stock 17221  17221 D  
Explanation of Responses:
(1) SARs vests in 5 equal annual installments with the beginning date indicated.
(2) The amount of securities beneficially owned changed due to a distribution of stock which is exempt from reporting under Rule 16b-3(c).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
JENNINGS SCOTT C
PO BOX 438
MOOREFIELD, WV 26836

EVP & COO
Signatures
Teresa D. Ely Lmtd POA, Attorney-in-Fact2/6/2023
**Signature of Reporting PersonDate
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).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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