Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 158

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 158
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 connection with Wayne Bank’s application. Status of Applications and Notices.Norwood and PB Bankshares have filedall required applications with applicable regulatory authorities in connection with the merger of PB Bankshares with Norwood and the merger of Presence Bank with Wayne Bank. There can be no assurance that all requisite approvals will be obtained, that such approvals will be received on a timely basis or impose, among other things, any condition or requirement that, in the good faith judgment of Norwood, would have a materially adverse impact on the business of Norwood and Wayne Bank If any such term, condition or restriction is imposed, either Norwood may elect not to consummate the merger. See “— Conditions to Completing the Merger.” The approval of any application merely implies the satisfaction of regulatory criteria for approval, which does not include review of the acquisition from the standpoint of the adequacy of the merger consideration to be received by PB Bankshares shareholders. Furthermore, regulatory approvals do not constitute an endorsement or recommendation of the acquisition. Interests of PB Bankshares’s Directors and Executive Officers in the Merger Share Ownership.On the PB Bankshares record date for the special meeting, all persons who served as a director or executive officer of PB Bankshares beneficially owned, in the aggregate, 377,915 shares of PB Bankshares common stock representing approximately 14.3% of the outstanding shares of PB Bankshares common stock. As described below, certain of PB Bankshares’s executive officers and directors have interests in the merger that are in addition to, or different from, the interests of PB Bankshares’s shareholders generally. PB Bankshares’s board of directors was aware of these interests and took them into account when approving the merger. These interests and agreements include:

| • |     | employment and severance agreements that provide for severance payments and other benefits following a change in       
 control and a termination of employment by the employer for reasons other than cause, disability, retirement or death; |

| • |     | supplemental executive retirement agreements that provide for accelerated vesting and lump-sum payouts of previously accrued benefits and the crediting of additional amounts accrued for benefits in connection with a change in control; |

| • |     | retention bonus plans through which certain officers will receive bonuses if they remain employed with Norwood 
 for a to be determined specified period following the merger;                                                  |

| • |     | following completion of the merger, Janak M. Amin, President and CEO of PB Bankshares and Presence Bank, will be 
 appointed as chief operating officer of Nor