Peoples Financial (PFIS) EVP updates stock awards and tax withholding
Rhea-AI Filing Summary
Peoples Financial Services Corp. EVP and Chief Lending Officer Jeffrey A. Drobins corrected a prior stock award filing and updated his holdings. An earlier Form 4 mistakenly showed 2,020 performance-based stock awards vesting and 950 shares withheld for taxes. This amendment reports that 1,348 performance-based stock awards actually vested, and 551 shares were withheld to cover tax liability at $53.60 per share.
After these entries, Drobins directly owns 4,925.582 shares of common stock, including 447 shares of time-based restricted common stock, and holds 308 shares indirectly through the PSBT 401(k) Profit Sharing Plan. He also holds restricted stock units representing 11,763 and 804 underlying common shares, vesting annually beginning on March 11, 2026 and August 29, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 797 shares
Net Buy
5 txns
Insider
Drobins Jeffrey A
Role
EVP/CHIEF LENDING OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,348 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 551 | $53.60 | $30K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,925.582 shares (Direct);
Restricted Stock Units — 12,567 shares (Direct);
Common Stock — 308 shares (Indirect, PSBT 401(k) Profit Sharing Plan)
Footnotes (5)
- F1. On March 3, 2026, the reporting person filed a Form 4 which inadvertently reported the vesting of 2,020 performance-based stock awards and 950 shares withheld for taxes. As reported in this amendment, 1,348 performance-based stock awards vested and 551 shares were withheld for taxes.
- F2. This amount includes 447 shares of time based restricted common stock solely owned by Mr. Drobins and 4,478.582 shares solely owned by Mr. Drobins.
- F3. Each restricted stock unit represents a contingent right to receive one share of PFIS common stock.
- F4. The restricted stock units vest in three equal annual installments beginning March 11, 2026.
- F5. The restricted stock units vest in seven equal annual installments beginning August 29, 2026.
Key Figures
Performance-based awards vested: 1,348 shares
Shares withheld for taxes: 551 shares at $53.60
Direct common shares after filing: 4,925.582 shares
+4 more
7 metrics
Performance-based awards vested
1,348 shares
Vesting of performance-based stock awards on February 27, 2026
Shares withheld for taxes
551 shares at $53.60
Tax-withholding disposition on February 27, 2026
Direct common shares after filing
4,925.582 shares
Direct PFIS common stock ownership following transactions
Time-based restricted common stock
447 shares
Included within direct common holdings of Jeffrey Drobins
Indirect 401(k) holdings
308 shares
PFIS common stock in PSBT 401(k) Profit Sharing Plan
RSUs underlying shares (grant 1)
11,763 shares
Restricted stock units vesting in three equal installments from March 11, 2026
RSUs underlying shares (grant 2)
804 shares
Restricted stock units vesting in seven equal installments from August 29, 2026
Key Terms
performance-based stock awards, restricted stock units, tax liability, contingent right, +1 more
5 terms
performance-based stock awards financial
"reported the vesting of 2,020 performance-based stock awards and 950 shares"
restricted stock units financial
"Each restricted stock unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax liability financial
"Payment of exercise price or tax liability by delivering securities"
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share"
time based restricted common stock financial
"This amount includes 447 shares of time based restricted common stock"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PFIS executive Jeffrey Drobins change in this amended Form 4/A?
The amendment corrects an earlier report of vested awards and tax withholding. It revises vesting to 1,348 performance-based stock awards and 551 shares withheld for taxes, replacing previously reported figures of 2,020 vested awards and 950 withheld shares.
What are Jeffrey Drobins’ PFIS stock holdings after this Form 4/A?
After these transactions, Drobins directly owns 4,925.582 PFIS common shares, including 447 time-based restricted shares, plus 308 shares indirectly through the PSBT 401(k) Profit Sharing Plan. These figures reflect his updated ownership position reported in the amendment.
How many PFIS restricted stock units does Jeffrey Drobins hold and when do they vest?
Drobins holds restricted stock units tied to 11,763 and 804 PFIS common shares. Each unit represents a contingent right to one share, vesting in equal annual installments starting March 11, 2026 and August 29, 2026, respectively, subject to continued service conditions.