STOCK TITAN

Norwood Financial (NASDAQ: NWFL) director receives 45-share equity retainer grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Gifford Jeffrey S reported acquisition or exercise transactions in this Form 4 filing.

NORWOOD FINANCIAL CORP director Jeffrey S. Gifford received a grant of 45 shares of Common Stock on April 10, 2026 at a value of $30.39 per share. The filing describes these as Director Retainer Shares issued under the company’s 2024 Equity Incentive Plan.

After the grant, Gifford directly owns 26,637 Common shares. He also reports several indirect holdings through a spouse, IRAs, custodial accounts for family members, and multiple restricted stock awards that vest over time, reflecting a meaningful long-term equity alignment with NORWOOD FINANCIAL CORP.

Positive

  • None.

Negative

  • None.
Insider Gifford Jeffrey S
Role Director
Type Security Shares Price Value
Grant/Award Common Stock 45 $30.39 $1K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 26,637 shares (Direct); Common Stock — 76,082 shares (Indirect, Spouse)
Footnotes (1)
  1. Director Retainer Shares issued under the 2024 Equity Incentive Plan. Award vests in five equal installments beginning on December 14, 2022 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in five equal installments beginning on December 13, 2023 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in five equal installments beginning on December 12, 2024 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in three equal installments beginning on December 15, 2025 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in three equal installments beginning on December 15, 2026 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
Director grant size 45 shares Director Retainer Shares granted on April 10, 2026
Grant price $30.39 per share Value of Common Stock for director grant
Direct holdings after grant 26,637 shares Common Stock directly owned by Jeffrey S. Gifford
Spouse holdings 76,082 shares Common Stock held indirectly via spouse
IRA holdings 35,746 shares Common Stock held indirectly in IRA
Spouse IRA holdings 6,920 shares Common Stock held indirectly in spouse IRA
Custodial account Abigail 2,487 shares Common Stock held by custodian for Abigail Lockwood
Custodial account Ryan 2,487 shares Common Stock held by custodian for Ryan Lockwood
Director Retainer Shares financial
"Director Retainer Shares issued under the 2024 Equity Incentive Plan."
2024 Equity Incentive Plan financial
"Director Retainer Shares issued under the 2024 Equity Incentive Plan."
Restricted Stock financial
"nature_of_ownership": "Restricted Stock""
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
vests in five equal installments financial
"Award vests in five equal installments beginning on December 14, 2022"
Director Emeritus financial
"during such periods of continued service as an Employee, Outside Director or Director Emeritus"
SEC Form 4
FORM 4UNITED 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*
Gifford Jeffrey S

(Last)(First)(Middle)
717 MAIN STREET

(Street)
HONESDALE PENNSYLVANIA 18431

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
NORWOOD FINANCIAL CORP [ NWFL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/10/2026A45(1)A$30.3926,637D
Common Stock76,082ISpouse
Common Stock2,487IBy Custodian Abigail Lockwood
Common Stock2,487IBy Custodian Ryan Lockwood
Common Stock35,746IIRA
Common Stock6,920ISpouse IRA
Common Stock40(2)IRestricted Stock
Common Stock280(3)IRestricted Stock
Common Stock420(4)IRestricted Stock
Common Stock550(5)IRestricted Stock
Common Stock82(5)IRestricted Stock
Common Stock825(6)IRestricted Stock
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Director Retainer Shares issued under the 2024 Equity Incentive Plan.
2. Award vests in five equal installments beginning on December 14, 2022 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
3. Award vests in five equal installments beginning on December 13, 2023 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
4. Award vests in five equal installments beginning on December 12, 2024 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
5. Award vests in three equal installments beginning on December 15, 2025 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
6. Award vests in three equal installments beginning on December 15, 2026 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
/s/ Jeffrey S. Gifford by Mackenzie Jackson, Power of Attorney04/14/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

FAQ

What did NWFL director Jeffrey S. Gifford report in this Form 4 filing?

Director Jeffrey S. Gifford reported receiving a grant of 45 shares of NORWOOD FINANCIAL CORP Common Stock. The shares are Director Retainer Shares under the 2024 Equity Incentive Plan, reflecting routine equity-based compensation rather than an open-market purchase or sale.

At what value were the new NWFL director shares recorded in the grant?

The 45 Director Retainer Shares for Jeffrey S. Gifford were recorded at $30.39 per share. This value reflects the grant price disclosed for the Common Stock on the Form 4 and helps investors gauge the approximate dollar size of the compensation award.

How many NWFL shares does Jeffrey S. Gifford own directly after this transaction?

Following the April 10, 2026 grant, Jeffrey S. Gifford directly holds 26,637 shares of NORWOOD FINANCIAL CORP Common Stock. This direct position excludes additional indirect holdings reported for his spouse, IRAs, custodial accounts, and restricted stock awards that vest over multiple future years.

Is this NWFL Form 4 an open-market buy or a compensation award?

This Form 4 reflects a grant/award acquisition, not an open-market trade. The 45 shares are Director Retainer Shares issued as equity compensation under the 2024 Equity Incentive Plan, making the event a routine part of director pay rather than a discretionary stock purchase.

How do the NWFL restricted stock awards for Jeffrey S. Gifford vest over time?

Footnotes state several restricted stock awards vest in equal installments over three or five years, beginning on specific December dates from 2022 through 2026. Vesting requires continued service as an Employee, Outside Director, or Director Emeritus, aligning compensation with ongoing tenure.