Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 44

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 44
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 our merger with Penseco in November 2013, he served as our Executive Vice
President and Chief Lending Officer, the same position he held with Penseco from March 2012. He joined Penn Security Bank and Trust
Company in April 2011 as Executive Vice President and Deputy Chief Lending Officer. Before that, Mr. Tulaney was a Senior Executive
Vice President and the Corporate Sales Division Manager of First National Community Bank, a position he held since 2008, when he was promoted
from Executive Vice President. He was an employee of First National Community Bank from 1994 to 2011. Prior to 1994 Mr. Tulaney was
a Senior Vice President of Third National Bank a division of Independence Bank Corp and a Regional Vice President of PNC Bank.

Amy E. Vieney,
Senior Vice President and Chief Human Resource Officer of Peoples and Peoples Security Bank and Trust Company, age 50. Ms. Vieney
joined Peoples in her current position in June 2022. From December 2017 through June 2022, she served as Senior Director,
Human Resources at St. Luke’s University Health Network, headquartered in Bethlehem, Pennsylvania.

Compensation Discussion and Analysis

Overview of Objectives

The executive compensation
program of Peoples is designed to provide a competitive base salary as well as to provide certain incentives to our named executive officers
to effectively lead and manage the Company and its growth strategy. Decisions regarding executive compensation are determined by the compensation
committee. In accordance with the compensation committee charter, the committee may refer any matter that it has the authority to approve,
together with the committee’s report and recommendation, to the full board for approval, unless such matter is required to be approved
by an independent compensation committee by applicable law, regulation or listing standard.

The compensation program is
designed to support annual and long-term Company goals that create sustainable profitable growth while providing long-term value to our
shareholders. The objectives of our executive compensation programs are to:

| ● | attract, motivate and retain highly qualified executives; |

| ● | link total compensation to both individual performance and the performance of the bank and holding company; 
 and                                                                                                         |

| ● | appropriately balance short-term and long-term financial objectives, build shareholder value and reward 
 individual, team and company performances.                                                              |

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We seek to pay for superior
performance, both in achieving short-term goals and continuing to build a growing and sustainable financial