Company: PFIS
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021551
Chunk: 75

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 75
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R”); (iv) the
TSR of the S&P U.S. BMI Banks Index; (v) our net income; and (vi) our return on average tangible common equity. “Compensation
actually paid” does not represent the value of cash and shares of the Company’s common stock received by named executive officers
during the year, but rather is an amount calculated under SEC rules and includes, among other things, year-over-year changes in the
value of unvested equity-based awards. As a result of the calculation methodology required by the SEC, “Compensation actually paid”
amounts below differ from compensation actually received by the individuals.

|      | Year |   |         “Summary 
     compensation 
 table” total for 
           CEO(1) |     |   |     Compensation 
 actually paid to 
           CEO(2) |     |   |          Average 
         “Summary 
     compensation 
 table” total for 
    other NEOs(1) |     |   |          Average 
     compensation 
 actually paid to 
    other NEOs(2) |     |        | Company 
 TSR(3)  |        | Peer group 
 TSR(3)     |   | Net income 
        (in 
 thousands) |     |       | Return on 
 average   
 tangible  
 common    
 equity(4) |
|:-----|:-----|:--|-----------------:|:----|:--|-----------------:|:----|:--|-----------------:|:----|:--|-----------------:|:----|-------:|:--------|-------:|:-----------|:--|-----------:|:----|------:|:----------|
| 2024 |      | $ |          924,318 |     | $ |          710,087 |     | $ |          443,009 |     | $ |          390,799 |     | 121.93 |         | 143.68 |            | $ |      8.498 |     |  2.63 | %         |
| 2023 |      | $ |          927,073 |     | $ |          894,021 |     | $ |          517,313 |     | $ |          490,183 |     | 110.97 |         | 107.32 |            | $ |     27,380 |     | 10.30 | %         |
|