4/A: PFIS EVP Kirtley Amends RSU Holdings

Timothy Kirtley, EVP and Chief Risk Officer of Peoples Financial Services Corp., filed an amended Form 4 to correct the number of restricted stock units held.

Summary

• An amendment to a previously filed Form 4 was submitted by Timothy Kirtley, Executive Vice President and Chief Risk Officer of Peoples Financial Services Corp. (PFIS).
• The amendment adjusts the number of restricted stock units (RSUs) beneficially owned due to a calculation error.
• On August 29, 2025, 3,332 restricted stock units were acquired, which represent a contingent right to receive one share of PFIS common stock each.
• These 3,332 restricted stock units will vest in five equal annual installments, beginning on August 29, 2026.
• Additionally, 826 restricted stock units are held, which will vest in three equal annual installments, beginning on March 11, 2026.

Sentiment

Score: 5

Explanation: The filing is an administrative amendment to correct a calculation error in previously reported restricted stock units for an executive. It does not contain information impacting company performance or strategy, thus maintaining a neutral sentiment.

Positives

• Ensures accuracy and transparency of reported insider beneficial ownership, correcting a prior calculation error.

Negatives

• Indicates a prior calculation error in the initial reporting of restricted stock units, necessitating an amendment.

Future Outlook

The filing details future vesting schedules for restricted stock units, with 3,332 units vesting in five equal annual installments starting August 29, 2026, and 826 units vesting in three equal annual installments starting March 11, 2026.

Industry Context

This filing is an administrative update regarding an executive's equity compensation and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Ensures accurate public record of executive equity holdings.
• Management: Corrects the reported equity compensation for the Executive Vice President and Chief Risk Officer.

Next Steps

• Vesting of 3,332 restricted stock units in five equal annual installments beginning August 29, 2026.
• Vesting of 826 restricted stock units in three equal annual installments beginning March 11, 2026.

Key Dates

Keywords

Peoples Financial Services Corp., PFIS, Timothy Kirtley, Form 4/A, SEC Filing, Restricted Stock Units, RSU, Insider Transaction, Executive Compensation, Beneficial Ownership