Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 183

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 183
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 proxy statement/prospectus and other proxy solicitation materials of PB Bankshares; |

| • |     | PB Bankshares will take all actions necessary to convene a meeting of its shareholders to vote on the merger 
 agreement to be held no later than 50 days after the registration statement is declared effective;           |

| • |     | each party shall have the right to review any filing made with, or written material submitted to, any government 
 agencies in connection with the transactions contemplated by the merger agreement;                               |

| • |     | each party will furnish the other with all information concerning itself, its subsidiaries, directors, trustees,                                                                                                                                  
 officers, shareholders and depositors, and such other matters as may be necessary or advisable in connection with any statement or application made by or on behalf of either party to any governmental body in connection with the transactions, 
 applications or filings contemplated by the merger agreement;                                                                                                                                                                                     |

| • |     | PB Bankshares will deliver to Norwood, as of the date of the merger agreement, a voting agreement executed by 
 each director and executive officer of PB Bankshares;                                                         |

| • |     | each party will promptly furnish the other party with copies of written communications received by them or their 
 respective subsidiaries from any government body in respect of the merger;                                       |

| • |     | PB Bankshares and Norwood will consult with one another prior to issuing any press release or other public 
 disclosure related to the merger;                                                                          |

| • |     | PB Bankshares’s board of directors will recommend at the meeting of PB Bankshares’s shareholders that                           
 the shareholders vote to approve the merger agreement and will use its reasonable best efforts to solicit shareholder approval; |

| • |     | Norwood will establish a retention bonus plan pursuant to which identified PB Bankshares employees who have not                                                           
 entered into an employment agreement with Norwood will be entitled to a retention bonus if they remain employed with Wayne for a specified duration following the merger. |

Voting Agreements The following section summarizes material provisions of the separate voting agreements (each, a “voting agreement”), dated as of July 7, 2025, between Norwood and each of PB Bankshares’ directors and executive officers. A form of the voting agreements is attached to this proxy statement/prospectus as Annex C and is incorporated by reference herein and qualifies the following summary in its entirety. The rights and obligations of parties to the voting agreements are governed by the voting agreement and not by this summary or any other information contained in or