Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 162

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 162
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the cost of the employee’s continuation of health coverage.

Merger-Related Executive Compensation for PB Bankshares’s Named Executive Officers

The following table sets forth the estimated potential benefits to PB Bankshares’s named executive
officers in connection with a change in control of PB Bankshares or Presence Bank and assumes that the effective time of the merger will be January 1, 2026. If the merger closes after such date, then the estimated payments in

106

connection with a change of control listed below may be different due to changes in annual base salary and bonus levels and the vesting of some of the stock options and restricted stock awards without regard to the change of control. This table does not include the value of benefits in which the named executive officers are vested without regard to the occurrence of a change in control. The amounts shown below are estimates based on multiple assumptions that may or may not actually occur, and as a result, the actual amounts to be received by a named executive officer may differ materially from the amounts shown below. The following table sets forth an estimate of the change in control severance payment that each executive would receive in the event of such termination of employment resulting from the merger as a change in control event.

| Executive        |     | Estimated      
 Change in      
 Control        
 Severance      
 Payment        
 Amount ($) (1) |           |    |     | Estimated       
 SERP Change     
 in Control      
 Additional      
 Benefit ($) (4) |         |     | Estimated       
 Value of        
 Cash-Out of     
 Stock           
 Options ($) (5) |         |     | Estimated     
 Value of      
 Accelerated   
 Vesting of    
 Restrict      
 Stock ($) (6) |         |     | Estimated        
 Value of         
 COBRA            
 Benefits ($) (7) |        |
|:-----------------|:----|:---------------|----------:|---:|:----|:----------------|--------:|:----|:----------------|--------:|:----|:--------------|--------:|:----|:-----------------|-------:|
| Douglas L. Byers |     |                |   570,841 | -2 |     | $               |  65,866 |     | $               | 218,475 |     | $             | 103,569 |     | $                |      — |
| Larry W. Witt    |     |                |   488,409 | -2 |     | $               |  56,355 |     | $               |