Company: PFIS
Filing Date: 2025-05-05
Form Type: S-3/A
Source: 0001104659-25-044501
Chunk: 14

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-05-05
Form: S-3/A
Chunk 14
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ents in writing to the selection of an alternative forum, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. Any person or entity purchasing or otherwise acquiring any interest in any Peoples securities shall be deemed to have notice of and consented to this provision.

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TABLE OF CONTENTS

#### Anti-Takeover Article and Bylaw Provisions
Peoples’ articles of incorporation and bylaws contain certain provisions that may have the effect of deterring or discouraging an attempt to take control of Peoples. Among other things these provisions:

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empower Peoples’ board of directors, without shareholder approval, to issue shares of Peoples preferred stock the terms of which, including voting power, are set by Peoples’ board of directors;

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divide Peoples’ board of directors into three classes serving staggered three-year terms;

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require that shares with at least 75% or, in certain instances, a majority of total voting power approve the repeal or amendment of certain provisions of Peoples’ articles of incorporation;

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eliminate cumulative voting in the election of directors; and

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require advance notice of nominations for the election of directors and the presentation of shareholder proposals at meetings of shareholders.

The PBCL also contains certain provisions applicable to Peoples that may have the effect of deterring or discouraging an attempt to take control of Peoples. These provisions, among other things:

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require that, following any acquisition by any person or group of 20% of a public corporation’s voting power, the remaining shareholders have the right to receive payment for their shares, in cash, from such person or group in an amount equal to the “fair value” of the shares, including an increment representing a proportion of any value payable for control of the corporation (Subchapter 25E of the PBCL);

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prohibit for five years, subject to certain exceptions, a “business combination” (which includes a merger or consolidation of the corporation or a sale, lease or exchange of assets) with a person or group beneficially owning 20% or more of a public corporation’s voting power (Subchapter 25F of the PBCL);

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prevent a person or group acquiring different levels of voting power (20%, 33% and 50%) from voting any shares over the applicable threshold, unless “disinterested shareholders” approve such voting rights (Subchapter 25G of the PBCL);

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require any person or group that publicly announces that