Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 67

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 67
---
     | $          | 254,611 |
| Douglas L. Byers |     |                 | 11,699 |     |                   | 17,548 |     |               | — |     | $         | 12.28 |     |            | 11/14/2032 |     |              |  7,866 |     | $          | 120,192 |
| Larry W. Witt    |     |                 |  8,009 |     |                   | 12,014 |     |               | — |     | $         | 12.28 |     |            | 11/14/2032 |     |              |  5,599 |     | $          |  85,547 |

| (1) | Options vest in five equal annual installments commencing on November 14, 2023. |

| (2) | Stock awards vest in five equal annual installments commencing on November 14, 2023. |

| (3) | Based on the $15.28 per share trading price of PB Bankshares common stock on December 31, 2024. |

2022 Equity Incentive Plan PB Bankshares has adopted the PB Bankshares, Inc. 2022 Equity Incentive Plan (“2022 Equity Incentive Plan”), which was approved by stockholders in September 2022. Employees and directors of PB Bankshares, Presence Bank or its subsidiaries are eligible to receive awards under the 2022 Equity Incentive Plan. Subject to permitted adjustments for certain corporate transactions, the 2022 Equity Incentive Plan authorizes the issuance or delivery to participants of up to 388,815 shares of PB Bankshares common stock pursuant to grants of incentive and non-qualifiedstock options and restricted stock awards and restricted stock units. Of this number, the maximum number of shares of PB Bankshares common stock that may be issued under the 2022 Equity Incentive Plan pursuant to the exercise of stock options is 277,725 shares, and the maximum number of shares of PB Bankshares common stock that may be issued as restricted stock awards or restricted stock units is 111,090 shares. A total of 266,072 stock options and 108,115 restricted stock shares were awarded by the Compensation Committee under the 2022 Equity Incentive Plan during 2022. A total of 1,000 stock options were awarded under the 2022 Equity Incentive Plan during