Drobins Jeffrey A 4

What Happened
Jeffrey A. Drobins, EVP and Chief Lending Officer of Peoples Financial Services Corp. (PFIS), was granted 2,020 restricted stock units (RSUs) on 2026-02-27 (acquisition reported at $0.00). On the same date 950 shares were surrendered/disposed to satisfy tax withholding at $53.60 per share, a withholding value of $50,920. The award is an equity grant (not a market purchase).

Key Details

• Transaction dates: 2026-02-27 (award and tax withholding); Form 4 filed 2026-03-03 (appears timely).
• Award: 2,020 RSUs (reported as acquisition A, $0.00 per share).
• Withholding/Disposition: 950 shares at $53.60 per share, total ~$50,920 (code F — payment of tax liability/withholding).
• Ownership notes (from filing): includes 447 time‑based restricted common shares and 4,751.582 shares solely owned by Mr. Drobins (see footnote F1).
• RSU mechanics: each restricted stock unit represents the contingent right to one share (F2). Vesting schedules noted: some RSUs vest in three equal annual installments beginning March 11, 2026 (F3); others vest in seven equal annual installments beginning August 29, 2026 (F4).

Context

• This was an equity award plus a routine tax-withholding disposition — not an open-market sale or purchase by the insider. Tax withholding via share surrender (code F) is common when RSUs vest or are granted.
• Because RSUs vest over time, the award represents future potential shares rather than immediate stock purchases; such grants compensate and retain executives and don’t necessarily signal a buy/sell preference.