Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 181

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 181
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 hold the power of disposition or any of their voting rights with respect to the shares; and |

| • |     | each PB Bankshares director (who is not an employee of Presence Bank) also agreed as part of the voting                                                                                                                                                   
 agreement, in order to support this proposed transaction, not to engage in any Competition (as defined in such agreement) with Norwood, Wayne Bank, PB Bankshares or Presence Bank or any affiliate or subsidiary of any of the foregoing for a period of 
 twelve months after the Effective Time of the Merger or six months following cessation of his or her service as a member of a regional advisory board to be established by Norwood or Wayne Bank following the Effective Time of the Merger.              |

The voting agreements were executed as a condition of Norwood’s willingness to enter into the merger agreement. On the record date, these directors and executive officers beneficially owned and had the sole power to vote an aggregate of 377,915 shares, which they have agreed to vote in favor of the merger agreement at the PB Bankshares stockholder meeting. These shares represent approximately 14.3% of the outstanding shares of PB Bankshares common stock. No separate consideration was paid to any of the directors or executive officers for entering into these voting agreements. However, the directors and executive officers of PB Bankshares may be deemed to have interests in the merger as directors and executive officers that are different from or in addition to those of other PB Bankshares stockholders. See the section titled “The Merger — Interests of PB Bankshares’s Directors and Executive Officers in the Merger” beginning on page 95 of this proxy statement/prospectus for a complete description of these interests. Representations and Warranties Made by PB Bankshares and Norwood in the Merger Agreement PB Bankshares and Norwood have made certain customary representations and warranties to each other in the merger agreement relating to their respective businesses. For information on these representations and warranties, please refer to the merger agreement attached as Annex A. The representations and warranties must be true in all material respects through the completion of the merger unless any inaccuracies would not result in a material adverse effect. See “— Conditions to Completing the Merger.” The representations and warranties contained in the merger agreement were made only for purposes of the merger agreement and are made as of specific dates, were solely for the benefit of the parties to the merger agreement and may be subject to limitations agreed to by the contracting parties, including being qualified by disclosures between the parties. These representations and