Peoples Financial adds lifetime pay for ex-president

Q: Who is affected by the amended SERP described by PFIS?

The amendment affects former President Thomas P. Tulaney. It modifies his Supplemental Executive Retirement Plan Agreement with PFIS and its subsidiary Peoples Security Bank and Trust Company, particularly the benefits payable after the twenty-year normal retirement benefit period.

Q: How will the annuity contract be used in PFIS’s SERP for Thomas P. Tulaney?

Peoples Security Bank and Trust Company purchased an annuity contract as a funding source for Thomas P. Tulaney’s normal retirement benefit under the SERP. Monthly payments from the Bank after the benefit period will match the amount payable from that annuity contract.

Q: What additional benefit does PFIS’s amendment provide after the 20-year retirement period?

If Thomas P. Tulaney survives the twenty-year normal retirement benefit period, the Bank will provide an additional benefit by making monthly payments equal to the annuity contract payments for the balance of his life.

Q: Where can investors find the full terms of the amended SERP for PFIS’s former President?

The full terms are in Exhibit 10.1, titled “Amendment to Supplemental Executive Retirement Plan Agreement for the Benefit of Thomas P. Tulaney, effective August 28, 2026,” which is incorporated by reference into the report.

PEOPLES FINANCIAL SERVICES CORP.

Filing Impact

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Form Type

8-K

Rhea-AI Filing Summary

PEOPLES FINANCIAL SERVICES CORP. (PFIS) reported that on August 28, 2026 it, its subsidiary Peoples Security Bank and Trust Company, and former President Thomas P. Tulaney approved an amendment to Mr. Tulaney’s Supplemental Executive Retirement Plan Agreement.

The Bank purchased an annuity contract as a funding source for Mr. Tulaney’s normal retirement benefit under the SERP. The amendment provides that if Mr. Tulaney survives the twenty-year normal retirement benefit period, the Bank will continue making monthly payments equal to the annuity’s payments for the remainder of his life. The amendment is filed as Exhibit 10.1 and its full text governs the benefit terms.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Effective date of SERP amendment: August 28, 2026 Normal retirement benefit period: twenty-year normal retirement benefit period

2 metrics

Effective date of SERP amendment August 28, 2026 Date the amendment to the Supplemental Executive Retirement Plan Agreement became effective

Normal retirement benefit period twenty-year normal retirement benefit period Period after which additional lifetime monthly payments become payable if Mr. Tulaney survives it

Key Terms

Supplemental Executive Retirement Plan Agreement, annuity contract, normal retirement benefit

3 terms

Supplemental Executive Retirement Plan Agreement financial

"approved an amendment to the Supplemental Executive Retirement Plan Agreement, dated May 31, 2012"

annuity contract financial

"the Bank’s purchase of an annuity contract as a source of funding"

normal retirement benefit financial

"as a source of funding for Mr. Tulaney’s normal retirement benefit under the SERP"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive benefit change did PEOPLES FINANCIAL SERVICES CORP. (PFIS) disclose on August 28, 2026?

PFIS disclosed an amendment to former President Thomas P. Tulaney’s Supplemental Executive Retirement Plan Agreement, tied to an annuity contract, adding lifetime monthly payments equal to the annuity amount if he lives beyond the twenty-year normal retirement benefit period.

Who is affected by the amended SERP described by PFIS?

The amendment affects former President Thomas P. Tulaney. It modifies his Supplemental Executive Retirement Plan Agreement with PFIS and its subsidiary Peoples Security Bank and Trust Company, particularly the benefits payable after the twenty-year normal retirement benefit period.

How will the annuity contract be used in PFIS’s SERP for Thomas P. Tulaney?

Peoples Security Bank and Trust Company purchased an annuity contract as a funding source for Thomas P. Tulaney’s normal retirement benefit under the SERP. Monthly payments from the Bank after the benefit period will match the amount payable from that annuity contract.

What additional benefit does PFIS’s amendment provide after the 20-year retirement period?

If Thomas P. Tulaney survives the twenty-year normal retirement benefit period, the Bank will provide an additional benefit by making monthly payments equal to the annuity contract payments for the balance of his life.

Where can investors find the full terms of the amended SERP for PFIS’s former President?

The full terms are in Exhibit 10.1, titled “Amendment to Supplemental Executive Retirement Plan Agreement for the Benefit of Thomas P. Tulaney, effective August 28, 2026,” which is incorporated by reference into the report.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/01/2026 - 04:08 PM EDT Accepted by SEC EDGAR 09/01/2026 - 04:08 PM EDT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: August 28, 2026

(Date of earliest event reported)

PEOPLES FINANCIAL SERVICES CORP.

(Exact name of registrant as specified in its Charter)

PA	001-36388	23-2391852
(State or other jurisdiction	(Commission file number)	(IRS Employer
of incorporation)		Identification No.)

30 E D Preate Drive, Moosic, PA 18507

(Address of Principal Executive Offices) (Zip Code)

(570) 346-7741

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $2.00 par value		PFIS		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 28, 2026, Peoples Financial Services Corp. (the “Company”), its subsidiary, Peoples Security Bank and Trust Company (the “Bank”), and their former President, Thomas P. Tulaney, approved an amendment to the Supplemental Executive Retirement Plan Agreement, dated May 31, 2012, by and among the Company, the Bank and Mr. Tulaney (the “SERP”).

The amendment was made in connection with the Bank’s purchase of an annuity contract as a source of funding for Mr. Tulaney’s normal retirement benefit under the SERP. Under the terms of the amendment, if Mr. Tulaney survives the twenty-year normal retirement benefit period, the Bank will provide an additional benefit thereafter by making monthly payments to Mr. Tulaney in an amount equal to that which is payable from the annuity contract for the balance of Mr. Tulaney’s life.

A copy of the amendment is filed with this report as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the amendment is qualified in its entirety by reference to the full text of the amendment.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

The following exhibits are filed with this Form 8-K:

Exhibit No.		Description

10.1		Amendment to Supplemental Executive Retirement Plan Agreement for the Benefit of Thomas P. Tulaney, effective August 28, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	PEOPLES FINANCIAL SERVICES CORP.

	By:	/s/ James M. Bone, Jr., CPA
		James M. Bone, Jr., CPA
		Executive Vice President and Chief Financial Officer
		Principal Financial Officer

Dated: September 1, 2026

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 EXHIBIT 10.1 15.3 KB