Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 3

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 3
---
 permitted by Pennsylvania law; |

| ● | A proposal to approve, on an advisory basis, the compensation of our named executive officers; |

| ● | Such other business as may properly come before the meeting. |

Information regarding the
election of directors and the other proposals is included in this proxy statement. Shareholders should carefully read this proxy statement.

The first date on which this
proxy statement and the enclosed form of proxy are intended to be sent to the shareholders of the Company is on or about April 11,
2025.

<div align='center'>Table of Contents</div>

| A Warning About Forward-Looking Statements                                                                                                                                                                          |     |  1 |
| Information About Voting                                                                                                                                                                                            |     |  2 |
| Proposal 1 – Election of Directors                                                                                                                                                                                  |     |  6 |
| Proposal 2 – To Approve, on an Advisory Basis, the Compensation of our Named Executive Officers                                                                                                                     |     | 12 |
| Proposal 3 – To Approve an Amendment to the Company’s Bylaws by Adding a New Article 25, to Limit the Personal Liability of Directors and Officers for Monetary Damages to the Extent Permitted by Pennsylvania Law |     | 13 |
| Proposal 4 – Ratification of the Appointment of Baker Tilly US, LLP as the Company’s Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2025                                     |     | 14 |
| Board of Directors and Committees                                                                                                                                                                                   |     | 16 |
| Security Ownership of Certain Beneficial Owners and Management                                                                                                                                                      |     | 25 |
| Executive Officers and Compensation                                                                                                                                                                                 |     | 26 |
| Certain Relationships and Related Transactions                                                                                                                                                                      |     | 53 |
| Code of Ethics                                                                                                                                                                                                      |     | 54 |
| Delinquent Section 16(a) Reports                                                                                                                                                                                    |     | 54 |
| Equity Compensation Plan Information                                                                                                                                                                                |     | 55 |
| Shareholder Proposals                                                                                                                                                                                               |     | 55 |
| Reports and Other Documents                                                                                                                                                                                         |     | 56 |

| Annex                                        
 A – Proposed Bylaw Amendment, New Article 25 |

<div align='center'>A Warning About Forward-Looking Statements</div>

This document contains forward-looking
statements within the meaning of Section 27A of the Securities Act, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, which are subject to risks and uncertainties. These statements are based on assumptions and may describe future plans