Company: PFIS
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001104659-25-030614
Chunk: 77

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 77
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arnings per share (EPS) growth | Asset growth                              |
| Revenue                         
 growth                          | Ratio of non-performing assets to average |
| Expense to asset ratio          | loans plus                                
 other real estate owned                   |
| Loan growth                     | Ratio of net charge-offs to average loans |
| Deposit growth                  |                                           |

Each of these financial performance
measures has been used in our incentive programs to determine the level of payout. Due to the pendency of the FNCB merger during the first
half of 2024, however, the committee did not set specific performance goals for 2024, but relied on the provisions of the Cash Incentive
Plan which allow the committee to award cash bonuses at such times and in such amounts as determined by the committee in its discretion
from time to time.

2024 Director Compensation

The following table sets forth
information concerning the compensation received by individuals who served as directors of the Company during the year ended December 31,
2024.

| Name                           |     | Fees Earned 
 or Paid in  
 Cash ($)    |        |     | Stock         
 Awards ($)(1) |        |     | All Other    
 Compensation 
 ($)(2)       |     |     | Total ($) |        |
| William E. Aubrey II           |     |             | 77,508 |     |               | 14,412 |     |              | 152 |     |           | 92,072 |
| Sandra L. Bodnyk               |     |             | 63,012 |     |               | 14,412 |     |              | 409 |     |           | 77,833 |
| William G. Bracey              |     |             | 26,502 |     |               |  7,206 |     |              |   – |     |           | 33,708 |
| Joseph Coccia                  |     |             | 23,002 |     |               |  7,206 |     |              |   – |     |           | 30,208 |
| William P. Conaboy, Esq.       |     |             | 26,502 |     |               |  7,206 |     |              |   – |     |           | 33,708 |
| Joseph L. DeNaples, Esq.       |     |             | 28,502 |     |               |  7,206 |     |              |   –