Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 34

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 34
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NCB Director, not less than a majority of the Continuing FNCB Directors have approved the appointment or nomination
(as applicable) of the individual appointed or nominated (as applicable) to fill such vacancy, in which case the Continuing PFIS Directors
shall vote to approve the appointment or nomination (as applicable) of such individual; provided, that any such appointment or nomination
shall be made in accordance with applicable laws and the rules of the Nasdaq Stock Market (or any other national securities exchange
on which the Company’s securities may be listed). As used in the preceding sentence, the terms “Continuing PFIS Directors”
and “Continuing FNCB Directors” mean, respectively, the directors of the Company and FNCB who were selected to be directors
of the Company by the Company or FNCB, as the case may be, as of the effective time of the FNCB merger, pursuant to the FNCB merger agreement,
and any directors of the Company who subsequently may be appointed or nominated and elected to fill a vacancy created by the cessation
of service of a Continuing PFIS Director or a Continuing FNCB Director, as applicable.

Nomination Process

Our nominating and corporate
governance committee is responsible for recommending director nominees to our board of directors. The board of directors will consider
director candidates recommended by shareholders whose nomination conforms with the requirements of the Company’s bylaws and the
rules and requirements of the Exchange Act. Any shareholder who wishes to recommend a director candidate for consideration may send
notice to our Secretary at Peoples Financial Services Corp., 102 East Drinker Street, Dunmore, Pennsylvania 18512. The notice must conform
with the requirements of our bylaws and the rules and requirements of the Exchange Act. See the section titled “Shareholder
Nominations and Proposals,” on page 55 for additional information.

Process for Identifying and Evaluating Nominees

In selecting director candidates
to be nominated for election at an annual meeting, the nominating and corporate governance committee begins by determining whether the
incumbent directors whose terms expire at the meeting desire, and are qualified, to continue their service on the board. We are of the
view that the repeated service of qualified incumbents promotes stability and continuity in the boardroom, giving us the benefit of the
familiarity and insight into our affairs that our directors have accumulated during their tenure. Accordingly, it is the policy of the
nominating and corporate governance committee, absent special circumstances,