Peoples Financial (PFIS) president corrects stock awards and tax withholding
Rhea-AI Filing Summary
Peoples Financial Services Corp. president Thomas P. Tulaney corrected a prior equity award report and detailed recent stock-based compensation activity. On February 27, 2026, 1,880 performance based stock awards vested and 633 shares of common stock were withheld at $53.60 per share to cover taxes.
After these entries, he directly owns 21,736 common shares, including 607 shares of time based restricted stock and 21,129 shares held jointly with his spouse, plus 19,519.4883 shares held indirectly through an IRA. He also holds 1,075 restricted stock units, each representing one common share, which vest in three equal annual installments beginning March 11, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
TULANEY THOMAS P
Role
PRESIDENT
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,880 | $0.00 | -- |
| Tax Withholding | Common Stock | 633 | $53.60 | $34K |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 22,369 shares (Direct);
Restricted Stock Unit — 1,075 shares (Direct);
Common Stock — 19,519.488 shares (Indirect, By IRA)
Footnotes (1)
- This amount includes 607 shares of time based restricted common stock solely owned by Mr. Tulaney and 21,129 shares held jointly with his spouse. This amended Form 4 corrects the amounts erroneously reported on Mr. Tulaney's Form 4 filed March 3, 2026. On March 3, 2026, the reporting person filed a Form 4 which inadvertently reported the vesting of 2,818 performance based stock awards and 1,121 shares withheld for taxes. As reported in this amendment, 1,880 performance based stock awards vested and 633 shares were withheld for taxes. Each restricted stock unit represents a contingent right to receive one share of PFIS common stock. The restricted stock units vest in three equal annual installments beginning March 11, 2026.
Key Figures
Performance awards vested: 1,880 shares
Shares withheld for taxes: 633 shares at $53.60
Direct common shares after transactions: 21,736 shares
+5 more
8 metrics
Performance awards vested
1,880 shares
Performance based stock awards vested on February 27, 2026
Shares withheld for taxes
633 shares at $53.60
Tax-withholding disposition tied to vesting on February 27, 2026
Direct common shares after transactions
21,736 shares
Direct PFIS common stock holdings following reported entries
Joint holdings with spouse
21,129 shares
Common stock held jointly with spouse within direct total
Time based restricted stock
607 shares
Time based restricted common stock solely owned by Tulaney
IRA indirect holdings
19,519.4883 shares
PFIS common stock held indirectly by IRA
Restricted stock units
1,075 units
Each unit represents one PFIS common share
RSU vesting schedule
Three equal annual installments
Beginning March 11, 2026 for restricted stock units
Key Terms
performance based stock awards, Restricted Stock Unit, tax-withholding disposition, time based restricted common stock
4 terms
performance based stock awards financial
"As reported in this amendment, 1,880 performance based stock awards vested and 633 shares were withheld for taxes."
Restricted Stock Unit financial
"Each restricted stock unit represents a contingent right to receive one share of PFIS common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
time based restricted common stock financial
"This amount includes 607 shares of time based restricted common stock solely owned by Mr. Tulaney"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PFIS president Thomas P. Tulaney report in this amended Form 4?
He reported corrected equity award activity, including vesting of 1,880 performance based stock awards and withholding of 633 common shares at $53.60 per share for taxes. The amendment fixes amounts that were erroneously reported in a prior March 3, 2026 Form 4.
How many performance based PFIS stock awards vested for Tulaney?
A total of 1,880 performance based stock awards vested for Thomas P. Tulaney on February 27, 2026. The original Form 4 had inadvertently reported 2,818 vesting awards, and this amended filing corrects that previously overstated vesting figure to the accurate amount.
What indirect PFIS holdings does Tulaney report through his IRA?
Tulaney reports indirect ownership of 19,519.4883 PFIS common shares held by an IRA. These shares are classified as indirect ownership, noted as “By IRA,” and are separate from his directly held and jointly held common stock positions disclosed in the same filing.
What restricted stock units does Tulaney hold and when do they vest?
He holds 1,075 restricted stock units, each representing a contingent right to receive one PFIS common share. These units vest in three equal annual installments, beginning on March 11, 2026, providing a scheduled stream of future share deliveries over three years.
What specific error does this PFIS Form 4/A amendment correct?
The amendment corrects a March 3, 2026 Form 4 that inadvertently reported the vesting of 2,818 performance based stock awards and 1,121 shares withheld for taxes. The accurate figures are 1,880 vested awards and 633 shares withheld for tax obligations on that vesting event.