Company: PFIS
Filing Date: 2025-04-21
Form Type: S-3
Source: 0001104659-25-036894
Chunk: 11

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-21
Form: S-3
Chunk 11
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 the securities being offered.

### DESCRIPTION OF CAPITAL STOCK
The following description is a summary of the material provisions of our Articles of Incorporation, as amended (“articles of incorporation”) and Second Amended and Restated Bylaws, as amended (the “bylaws”). Copies of the articles of incorporation and bylaws have been filed with the SEC and are incorporated into this prospectus.

#### General
The authorized capital stock of Peoples consists of 25,000,000 shares of common stock, $2.00 par value, of which 9,995,482 were issued and outstanding as of April 21, 2025; and 500,000 shares of preferred stock, without par value, none of which were issued and outstanding as of April 21, 2025.

#### Common Stock

#### Voting
Each holder of Peoples common stock is entitled to one vote per share held on any matter submitted to a vote of shareholders. There are no cumulative voting rights in the election of directors.

Peoples’ bylaws provide that its board of directors will be classified into three classes, each class to be as nearly equal in number, in respect to the time for which they severally hold office. At each annual meeting of shareholders, one class of directors is to be elected, and each class of directors so elected will serve for a term of approximately three years.

Peoples’ articles of incorporation provide for majority voting in uncontested elections of directors. Under Peoples’ majority voting standard, each vote cast will be counted either “for” or “against” the nominee’s election as a director. To be elected in an uncontested election, a quorum must be present at the meeting and the number of votes cast by shareholders “for” a nominee’s election must exceed the number of votes cast “against” the nominee’s election. In a contested election, defined as one in which the number of director nominees exceeds the number of directors to be elected, the directors elected at such meeting shall be elected by a plurality of the votes cast in such election of directors, provided that a quorum is present.

#### Dividends
The holders of Peoples common stock share ratably in dividends when and if declared by Peoples’ board of directors from legally available funds. Declaration and payment of cash dividends by Peoples is largely dependent upon receipt of dividends from its subsidiary, the Bank. The ability of Peoples and the Bank to pay dividends is subject to federal and state regulations. Peoples is a legal entity separate and distinct from the Bank. Accordingly, the right of