Company: ASRV
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0001140361-25-022675
Chunk: 51

Company: AMERISERV FINANCIAL INC /PA/
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 51
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ORY VOTE ON FREQUENCY OF FUTURE ADVISORY VOTES ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS As described in Matter No. 2 above, in accordance with the requirements of Section 14A of the Exchange Act and the related rules of the SEC, ASRV’s shareholders are being provided the opportunity to cast an advisory vote on ASRV’s executive compensation program. The advisory vote on executive compensation described in Matter No. 2 above is referred to as a “say-on-pay vote.” This Matter No. 3 affords shareholders the opportunity to cast an advisory vote on how often ASRV should include a say-on-pay vote in its proxy materials for future annual shareholder meetings (or special shareholder meeting for which ASRV must include executive compensation information in the proxy statement for that meeting). Under this Matter No. 3, shareholders may vote to have the say-on-pay vote every year, every two years or every three years. Shareholders voted on a similar proposal at the annual meeting of shareholders held in 2019 with the most votes cast to hold the say-on-pay vote every year. After consideration, the board of directors recommends that future shareholder say-on-pay votes be conducted each year. The board values constructive input from shareholders regarding the company’s compensation philosophy, policies and practices, and believes it is important that such policies and practices are aligned with the best interests of shareholders. In formulating its recommendation, the board considered that an advisory vote on executive compensation every year will allow our shareholders to provide us with their direct input on our compensation philosophy, policies, and practices as disclosed in this proxy statement every year. Setting a one year period for holding this shareholder vote will also enhance shareholder communication by providing a clear, simple means for ASRV to obtain more current information on investor sentiment about our executive compensation philosophy. As an advisory vote, this proposal is not binding on the company, the board of directors, or the compensation committee. The compensation committee and the board, however, value the opinions expressed by shareholders in their votes on this proposal and will consider the outcome of the vote when making future decisions regarding the frequency of conducting a say-on-pay vote. THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE TO HOLD FUTURE ADVISORY VOTES ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS EVERY “1” YEAR. 35

MATTER NO. 4 RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM General On