Citizens Financial (CZFS) insider stake rises after stock dividend

Rhea-AI Filing Summary

CZFS Form 4 highlights: Executive Vice President Jeffrey R. White reported the automatic acquisition of 16 common shares of Citizens Financial Services, Inc. on 27 June 2025. The transaction is coded “J,” indicating a stock dividend or similar non-open-market event. The reference price disclosed is $60.42, matching the declaration-date market price used to calculate the 1 % stock dividend. Following this dividend distribution, White’s direct beneficial ownership rose to 1,674 shares. No derivative securities were involved, and there was no cash consideration. While the additional shares marginally increase insider ownership, the scale (≈0.96 % of his holdings) and nature of the dividend suggest minimal market impact.

Positive

• Insider ownership increases: Executive VP now holds 1,674 shares, modestly aligning management interests with shareholders.

Negative

• Immaterial size: Only 16 shares were added, providing negligible insight into management’s outlook or company valuation.

Insights

Financial Analyst

TL;DR: Small 1% stock-dividend adds 16 shares to EVP White’s stake; immaterial but directionally positive insider alignment.

The Form 4 discloses a routine stock-dividend adjustment rather than an open-market purchase. Code “J” denotes a non-cash transaction, so there is no direct signal of insider valuation conviction. The increase takes White’s ownership to 1,674 shares—still modest relative to CZFS’s 3.4 million shares outstanding. Because the event neither alters float nor involves insider selling, it is neutral-to-slightly-positive for sentiment but not financially material. Investors should view it as standard housekeeping associated with the company’s 1 % stock dividend declared earlier.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

White Jeffrey R

(Last) (First) (Middle)

100 LIBERTY STREET

(Street)

WARREN PA 16365

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CITIZENS FINANCIAL SERVICES INC [ CZFS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EXECUTIVE VICE PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON CLASS	06/27/2025		J		16	A	$60.42	1,674	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

1% STOCK DIVIDEND BASED ON THE DECLARATION DATE MARKET PRICE OF $60.42.

	GINA MARIE BOOR FOR JEFFREY R WHITE UNDER POWER OF ATTORNEY DATED JULY 16, 2024	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did CZFS file on Form 4?

A 1 % stock dividend credited Executive VP Jeffrey R. White with 16 additional common shares on 27 June 2025.

What is the Form 4 transaction code "J" for CZFS?

Code J indicates a non-open-market acquisition such as a stock dividend or corporate event, not a typical purchase or sale.

How many CZFS shares does EVP Jeffrey White now own?

After the dividend, White’s direct ownership totals 1,674 common shares.

Was any cash paid for the CZFS shares acquired?

No. The shares were received via stock dividend, so there was no cash consideration.

Does this Form 4 signal insider confidence in CZFS?

Because it is a routine dividend distribution rather than a voluntary purchase, it offers limited insight into insider sentiment.