Company: PFIS
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021551
Chunk: 53

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 53
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(k) safe harbor $9,080; 401(k) match $8,085; and $1,000 holiday bonus.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

<div align='center'>35

Grants of Plan-Based Awards</div>

The following table provides
information concerning grants of plan-based awards made to our named executive officers during the year ended December 31, 2024.

|                    |     |            |     | All Other Stock 
 Awards:         
 Number of       
 Shares of       |       |     | Grant Date 
 Fair Value 
 of Stock   |        |
| Name               |     | Grant Date |     | Stock           
 (#)             |       |     | Awards     
 ($)(1)     |        |
| Craig W. Best      |     | 2/21/2024  |     |                 | 1,231 |     |            | 49,609 |
| Thomas P. Tulaney  |     | 2/21/2024  |     |                 |   623 |     |            | 25,107 |
| Neal D. Koplin     |     | 2/21/2024  |     |                 |   550 |     |            | 22,165 |
| Timothy H. Kirtley |     | 2/21/2024  |     |                 |   493 |     |            | 19,868 |
| John R Anderson    |     | 2/21/2024  |     |                 |   502 |     |            | 20,231 |

| (1) | Grant date values based on the closing price of $40.30 per share of our common stock on the grant date 
 of February 21, 2024.                                                                                  |

The table above includes the
number of time-vested restricted stock awards issued under the 2023 Equity Incentive Plan.

Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table

With respect to the discretionary
cash bonuses, our compensation committee approved bonuses equal to 25 percent of base salary for Mr. Tulaney, Mr. Koplin, Mr. Kirtley
and Mr. Anderson. Mr. Best resigned as our chief executive officer as of December 31, 2024, and our compensation committee
approved a special discretionary bonus for Mr. Best in recognition of his efforts in connection with the FNCB merger and integration.

With respect to the equity
awards, the