Peoples Financial (PFIS) EVP vests 274 RSUs, uses 236 shares for taxes

Rhea-AI Filing Summary

PEOPLES FINANCIAL SERVICES CORP. executive Jeffrey A. Drobins exercised restricted stock units that vested into common shares and had shares withheld for taxes. On March 11, 2026, 274 restricted stock units converted into 274 shares of common stock at an exercise price of $0.00 per share.

A total of 236 common shares were disposed of at $51.80 per share to cover tax obligations, leaving 5,236.582 common shares owned directly. Footnotes state these holdings include 155 shares of time-based restricted stock and 5,081.582 other directly owned shares. Drobins also continues to hold 11,763 restricted stock units, each representing a contingent right to receive one share of common stock, with portions vesting annually through 2028 and further RSUs vesting in seven equal annual installments beginning August 29, 2026.

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

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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^*

Drobins Jeffrey A

(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)
	EVP/CHIEF LENDING OFFICER

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		274	A	(1)	5,472.582	D
Common Stock	03/11/2026		F		236	D	$51.8	5,236.582(2)	D
Common Stock								308	I	PSBT 401(k) Profit Sharing Plan

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 Units	(1)	03/11/2026		M			274	(3)	(3)	COMMON STOCK	274	$0	530(4)	D
Restricted Stock Units	(5)							(6)	(6)	COMMON STOCK	11,763		11,763	D

Explanation of Responses:

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

2. This amount includes 155 shares of time based restricted common stock solely owned by Mr. Drobins and 5,081.582 shares solely owned by Mr. Drobins.

3. On 3/28/2025, Mr. Drobins was granted 804 RSUs vesting in three annual installments beginning 3/11/2026.

4. 274 RSUs vested on 3/11/2026 leaving 266 RSUs to vest on 3/11/2027 and 264 RSUs to vest on 3/11/2028.

5. Each restricted stock unit represents a contingent right to receive one share of PFIS common stock.

6. The restricted stock units vest in seven equal annual installments beginning August 29, 2026.

	/s/ James M. Bone, Jr., As Attorney-in-Fact for Jeffrey Drobins	03/13/2026
	** Signature of Reporting Person	Date
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).
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FAQ

What insider transactions did PFIS executive Jeffrey A. Drobins report?

Jeffrey A. Drobins exercised 274 restricted stock units into common stock and had 236 common shares withheld to pay taxes. These transactions occurred on March 11, 2026 and are compensation-related rather than open-market purchases or sales.

How many PFIS common shares does Jeffrey A. Drobins hold after this Form 4?

After the reported transactions, Jeffrey A. Drobins directly holds 5,236.582 PFIS common shares. This total includes 155 shares of time-based restricted stock and 5,081.582 other directly owned shares, as detailed in the filing footnotes.

How many PFIS restricted stock units does Jeffrey A. Drobins retain?

Drobins retains 11,763 restricted stock units, each representing a contingent right to receive one PFIS common share. These RSUs vest over multiple years, including seven equal annual installments starting August 29, 2026, according to the disclosed vesting schedule.

What was the purpose of the 236 PFIS shares disposed of at $51.80?

The 236 PFIS common shares disposed of at $51.80 per share were withheld to satisfy tax liabilities related to the vesting and conversion of restricted stock units. This tax-withholding disposition is not an open-market sale initiated for portfolio reasons.

How do the vested RSUs affect Jeffrey A. Drobins’ PFIS equity exposure?

The vesting and conversion of 274 RSUs increased Drobins’ PFIS common share holdings while still leaving a substantial RSU balance. With 11,763 RSUs outstanding, he maintains significant contingent equity exposure that will convert into shares as future vesting dates occur.