Company: PFIS
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021551
Chunk: 78

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 78
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 31, 2024 received an award of 280 shares of restricted stock on January 31, 2025, which                
 was fully vested upon grant. Each non-employee legacy FNCB Bancorp. director serving as of December 31, 2024 received an award of            
 140 shares of restricted stock on January 31, 2025, which was fully vested upon grant. Grant date values based on the closing price          
 of $50.79 per share of our common stock on the grant date of January 31, 2025.                                                               |
| (2) | All other amounts reflect 2024 imputed income on supplemental life insurance split-dollar arrangements.                                      |

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Mssrs. Bracey, Coccia, Conaboy,
Louis A. DeNaples, Sr., Joseph L. DeNaples, Eckel and Melone, and Mrs. Lambert were appointed to the Company’s board of
directors upon closing of the FNCB merger on July 1, 2024.

Each non-employee director
receives $2,000 for attendance at each meeting of the board of the Company or the Bank, $500 for each committee meeting, and $300 each
for certain advisory meetings. All non-employee directors receive a cash retainer of $20,000 per year. In addition, all non-employee directors
receive an annual stock award having a target value of $15,000, based on the average closing price of our common stock during the month
of December. The Chairman of the Board receives a retainer of $40,000 per year, and the Audit Committee Chairman receives an additional
$417 per month; the Compensation Committee Chairman receives an additional $292 per month; the Nominating and Corporate Governance Committee
Chairman receives an additional $250 per month; the Chair of the Bank’s Trust Committee receives an additional $209 per month; the
Chair of the Bank’s Asset Liability Management Committee receives an additional $209 per month; the Chair of the Bank’s Asset
Quality/Credit Committee receives an additional $209 per month; the Chair of the Information Technology Committee receives an additional
$209 per month and the Chair of the ESG Committee receives an additional $209 per month.

We maintain a director supplemental
life insurance plan. All directors are eligible for the life insurance benefit, subject to medical underwriting acceptance. The plan currently
insures five directors. The director life