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

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 18
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032 |     | $      | 40,795 |
| Vincent G. O’Bell |     |                 | 24,015 |     |           | 2,396 |     |           |     — |     |            | 6,000 |     |        | 32,411 |
| John F. Carmody   |     |                 | 23,453 |     |           | 2,396 |     |           | 1,780 |     |            | 6,000 |     |        | 33,629 |

| (3) | Mr. Carmody was not an NEO in 2023. |

| * | Excludes the value of certain perquisites and personal benefits which did not exceed $10,000 in the aggregate for any named executive officer. |

In accordance with SEC regulations, the Summary Compensation Table reports the aggregate grant date value of option and restricted stock awards in the fiscal year in which the award was made. Stock options vest and become exercisable one year from the date of grant. Restricted stock awards (other than Mr. Donnelly’s Sign-onEquity Award) are earned and become non-forfeitablein five equal installments beginning one year from the date of grant during periods of continued service as an employee, director or director emeritus. Stock option and restricted stock awards fully vest upon a change-in-control.Stock options vest upon a termination of employment due to death or disability. At the death or disability of the NEO, restricted stock awards vest as if the NEO had reached the next applicable vesting event. Recipients of restricted stock awards are entitled to receive dividends paid on the underlying restricted awards prior to vesting. 13

The Summary Compensation Table includes various miscellaneous income items under “All Other Compensation.” Under the Company’s 401(k) Plan, eligible employees may annually contribute between 2% and 10% of their compensation to their accounts in the 401(k) Plan. The Company generally matches employee contributions up to 3% of salary. The Company also makes a Safe Harbor contribution of 3% annually to eligible employees. In 2023, the Company made a discretionary contribution of 3% of salary. Since all eligible NEOs each contributed at least 3% of salary, a contribution of 9% was made to each of their accounts. The Company pays premiums on life insurance coverage for all eligible employees including the NEOs with insurance coverage of three times the base salary. Each NEO also participates in the Wayne Bank