Peoples Financial (PFIS) president exercises 366 RSUs, 264 shares withheld for tax

Rhea-AI Filing Summary

PEOPLES FINANCIAL SERVICES CORP. President Thomas P. Tulaney reported routine equity compensation activity. On March 11, 2026, 366 restricted stock units converted into the same number of common shares at a price of $0.00 per share, reflecting RSU vesting.

To cover tax obligations, 264 common shares were withheld and disposed of at $51.80 per share, a non-market tax-withholding transaction. Following these changes, Tulaney directly held 22,288 common shares, and an IRA associated with him held 19,519.4883 common shares indirectly.

Footnotes state that the RSUs convert into common stock on a one-for-one basis and clarify that 366 RSUs vested on March 11, 2026, with additional RSUs scheduled to vest in 2027 and 2028.

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

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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^*

TULANEY THOMAS P

(Last) (First) (Middle)

C/O PEOPLES SECURITY BANK & TRUST CO

30 E D PREATE DRIVE

(Street)

MOOSIC PA 18507

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PEOPLES FINANCIAL SERVICES CORP. [ PFIS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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 Stock	03/11/2026		M		366	A	(1)	22,552	D
Common Stock	03/11/2026		F		264	D	$51.8	22,288(2)	D
Common Stock								19,519.4883	I	By IRA

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
Restricted Stock Unit	(1)	03/11/2026		M			366	(3)	(3)	Common Stock	366	$0	709(4)	D

Explanation of Responses:

1. Restricted stock units (RSUs) convert into common stock on a one-for-one basis.

2. This amount includes 207 shares of time based restricted common stock solely owned by Mr. Tulaney and 22,081 shares held jointly with his spouse.

3. On 3/28/2025, Mr. Tulaney was granted 1,075 RSUs vesting in three annual installments beginning 3/11/2026.

4. 366 RSUs vested on 3/11/2026 leaving 355 RSUs to vest on 3/11/2027 and 354 RSUs to vest on 3/11/2028.

	/s/ James M. Bone, Jr., CPA, As Attorney in Fact for Thomas P. Tulaney	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did PFIS President Thomas P. Tulaney report?

Thomas P. Tulaney reported an RSU vesting and share withholding for taxes. On March 11, 2026, 366 restricted stock units converted into 366 common shares, and 264 of those shares were disposed of to satisfy tax obligations at $51.80 per share.

How many Peoples Financial Services (PFIS) shares does Thomas P. Tulaney hold after this Form 4?

After the transactions, Thomas P. Tulaney directly held 22,288 PFIS common shares. In addition, an IRA associated with him held 19,519.4883 PFIS common shares indirectly, providing a view of his combined direct and IRA-related equity position.

Was the PFIS Form 4 transaction an open-market buy or sell of shares?

The reported PFIS transactions were not open-market buys or sells. They reflect 366 RSUs converting into common stock at $0.00 per share and 264 shares withheld and disposed of at $51.80 per share solely to cover tax liabilities on the vesting.

What do the PFIS RSU footnotes say about future vesting for Thomas P. Tulaney?

The footnotes describe a previously granted block of RSUs with staggered vesting. Of 1,075 RSUs granted on March 28, 2025, 366 vested on March 11, 2026, leaving 355 RSUs scheduled to vest in 2027 and 354 RSUs scheduled to vest in 2028.

How many RSUs did Peoples Financial’s president exercise in this PFIS Form 4?

The Form 4 shows an exercise and conversion of 366 restricted stock units. These RSUs converted into 366 shares of PFIS common stock on March 11, 2026, consistent with the one-for-one RSU conversion ratio described in the accompanying footnotes.