Company: PFIS
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021551
Chunk: 59

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 59
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2026; 493 shares of restricted stock, subject to vesting in three annual installments on March 11, 2025,            
 2026, and 2027; 1,022 unearned performance-vested restricted stock units that would be earned for achieving target performance goals over 
 a three-year period ending December 31, 2025.                                                                                             |

| (5) | Mr. Anderson’s outstanding equity awards consist of 131 shares of restricted stock, subject                                               
 to vesting in one annual installment on March 11, 2025; 297 shares of restricted stock, subject to vesting in two annual installments     
 on March 11, 2025, and 2026; 502 shares of restricted stock, subject to vesting in three annual installments on March 11, 2025,           
 2026, and 2027; 1,042 unearned performance-vested restricted stock units that would be earned for achieving target performance goals over 
 a three-year period ending December 31, 2025.                                                                                             |

| (6) | These amounts reflect a portion of the unvested RSUs that may become vested based on the actual performance                              
 over the applicable performance periods. For purposes of calculating the amounts set forth in the table and based on performance through 
 December 31, 2024, it is assumed that the RSUs will be earned at target; however, the number of shares actually earned will depend       
 upon actual performance over the applicable performance periods.                                                                         |

| (7) | Market value is based on a closing price of $51.18 per share of our common stock on December 31, 
 2024.                                                                                            |

<div align='center'>40

Stock Vested</div>

The following table sets forth
information concerning restricted stock that vested during the fiscal year ended December 31, 2024.

| Name                 |     | Number of Shares        
 Acquired on Vesting (#) |       |     | Value Realized 
 on Vesting ($) |            |
| Craig W. Best        |     |                         | 1,094 |     |                | 45,084 (1) |
| Thomas P. Tulaney    |     |                         |   553 |     |                | 22,789 (2) |
| Neal D. Koplin       |     |                         |   474 |     |                | 19,534 (3) |
| Timothy H.