Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 32

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 32
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 with respect to our employee benefit plans; |

| ● | administer our compensation programs, including equity incentive programs, for all employees; |

| ● | review and provide guidance on our human resource programs, which may include talent review and leadership 
 development and “best place to work” initiatives;                                                          |

| ● | oversee all matters relating to the outcome of shareholder advisory votes regarding executive compensation; 
 and                                                                                                         |

| ● | oversee risks and exposures associated with leadership assessment, and compensation programs and arrangements,                           
 including incentive plans, and reviewing and evaluating our compensation policies and practices of compensating our employees, including 
 non-executive officers, as they relate to risk management practices and risk-taking incentives.                                          |

Compensation Committee Report

The compensation committee
has reviewed and discussed with management the Compensation Discussion and Analysis that is required by the rules established by
the SEC. Based on such review and discussions, the compensation committee has recommended to the board of directors that the Compensation
Discussion and Analysis be included in this proxy statement. See “Compensation Discussion and Analysis.”

| Submitted                      
 by the Compensation Committee: |
| Joseph                         
 T. Wright, Jr., Chairman       |
| William                        
 E. Aubrey II                   |
| Sandra                         
 L. Bodnyk                      |
| William                        
 G. Bracey                      |
| William                        
 P. Conaboy, Esquire            |
| Joseph                         
 L. DeNaples, Esquire           |
| Ronald                         
 G. Kukuchka                    |
| Richard                        
 S. Lochen, Jr., CPA            |
| Thomas                         
 J. Melone, CPA                 |
| James                          
 B. Nicholas                    |

The foregoing Compensation Committee Report shall not be deemed to be incorporated by reference into any filing made by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, notwithstanding any general statement contained in any such filing incorporating this proxy statement by reference, except to the extent the Company incorporates such report by specific reference.

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Nominations and Shareholder Communications

Directors Aubrey, J. DeNaples,
Eckel, Kukuchka, Lambert, Lochen, Melone, Nicholas and Wright currently comprise the nominating and corporate governance committee of
the board of directors. During 2024, the nominating and corporate governance committee of the board of directors met two times.

The nominating and corporate
governance committee is governed by a formal charter approved by