Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 20

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 20
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| • |     | to approve the proposal to approve the merger agreement and the transactions contemplated by the merger 
 agreement, including the merger; and                                                                    |

| • |     | to approve a proposal to adjourn, postpone or continue the special meeting, if necessary, to permit further 
 solicitation of proxies in favor of adopting the merger agreement.                                          |

You can vote at the special meeting of PB Bankshares shareholders if you owned PB Bankshares common stock at the close of business on October 6, 2025, the record date. You can cast one vote for each share of PB Bankshares common stock you owned on the record date. As of the record date, there were 2,640,397 shares of PB Bankshares common stock outstanding and entitled to vote, approximately 14.3% of which were owned and entitled to be voted by PB Bankshares directors and executive officers. These individuals have entered into voting agreements with Norwood requiring them to vote all shares over which they have sole voting power in favor of adoption of the merger agreement. Please refer to “The Merger and the Merger Agreement — Voting Agreements.”

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In order to approve the proposal to approve the merger agreement, the holders of at least a majority of the outstanding shares entitled to vote must vote in favor of the proposal. In order to approve the adjournment proposal, the holders of a majority of the votes cast or represented by proxy at the special meeting must vote in favor of the proposal, assuming a quorum is present. PB Bankshares’s Reasons for the Merger and Recommendation of the PB Bankshares Board of Directors (page 77) The PB Bankshares board of directors has unanimously determined that the merger agreement and the merger are fair to and in the best interests of PB Bankshares and its shareholders and accordingly, unanimously approved the merger agreement. PB Bankshares’ board of directors recommends that PB Bankshares shareholders vote “FOR” the approval of the merger agreement. In determining whether to approve the merger agreement and recommend approval of the merger agreement to the PB Bankshares shareholders, PB Bankshares’s board considered the factors described under “The Merger and the Merger Agreement — PB Bankshares’s Reasons for the Merger; Recommendation of the PB Bankshares Board of Directors.” Norwood’s Reasons for the Merger (page 81) Norwood’s board of directors has unanimously determined that the merger agreement and the merger are fair to and in the best interests of Norwood and its shareholders and accordingly unanimously approved the merger agreement. In