Company: NWFL
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056227
Chunk: 7

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 7
---
 acquire through the exercise of stock options within 60 days of the Record Date: Dr. Andrew A. Forte – 1,300; Meg L. Hungerford – 1,300; Kevin M. Lamont – 1,300; Ralph A. Matergia – 1,300; Dr. Kenneth A. Phillips – 1,300; and Vincent G. O’Bell – 6,750. |

| (6) | Excludes shares of restricted stock awarded under the Company’s 2014 and 2024 Equity Incentive Plans that have not yet vested. |

| (7) | Excludes 82,706 shares of Common Stock held under the Wayne Bank Employee Stock Ownership Plan (“ESOP”) for which such individuals serve as the ESOP trustees. Such shares are voted by the ESOP trustees in a manner proportionate to the voting directions of the allocated shares received by the ESOP participants, subject to the fiduciary duty of the trustees. Beneficial ownership is disclaimed with respect to such ESOP shares held in a fiduciary capacity. |

PROPOSAL I - ELECTION OF DIRECTORS The Board of Directors currently consists of ten (10) members, each of whom also serves as a director of our principal subsidiary, Wayne Bank (the “Bank”). Our Articles of Incorporation provide that the Board of Directors must be divided into three classes as nearly equal in number as possible. At each annual meeting of stockholders, each of the successors of the directors whose terms expire at the meeting will be elected to serve for a term of three years expiring at the third annual meeting of stockholders following the annual meeting of stockholders at which the successor director was elected. Dr. Andrew A. Forte, Ralph A. Matergia and Alexandra K. Nolan (collectively, the “Nominees”) have been nominated by the Board of Directors for terms of three years each. The Nominees currently serve as directors of the Company and have consented to serve, if elected. 4

The persons named as proxies in the Board of Directors’ form of proxy intend to vote for the election of the Nominees, unless the proxy is marked to indicate that such authorization is expressly withheld. Should any of the Nominees withdraw or be unable to serve (which the Board of Directors does not expect) or should any other vacancy occur in the Board of Directors, it is the intention of the persons named in the Board of Directors’ form of proxy to vote for the