Drobins Jeffrey A 4

What Happened Jeffrey A. Drobins, EVP and Chief Lending Officer of Peoples Financial Services Corp. (PFIS), had 274 restricted stock units (RSUs) convert into common stock on March 11, 2026. Of those 274 shares, 236 shares were withheld to satisfy tax obligations at $51.80 per share (aggregate $12,225), leaving 38 shares delivered to him. This was a routine RSU vesting/tax-withholding event — not an open-market purchase or discretionary sale.

Key Details

• Transaction date: 2026-03-11 (reported 2026-03-13). Filing appears timely.
• Conversion: 274 RSUs vested/converted into 274 shares (transaction code M).
• Tax withholding: 236 shares were withheld (transaction code F) at $51.80/share for $12,225.
• Net delivered: 38 shares to Mr. Drobins after withholding.
• Shares owned after transaction (per filing): 5,236.582 total reported — includes 155 time-based restricted shares and 5,081.582 common shares (per footnote).
• Relevant footnotes: RSUs convert 1:1 into common stock; Mr. Drobins was granted 804 RSUs on 3/28/2025 that vest in three annual installments beginning 3/11/2026 (274 vested on 3/11/2026; remaining 266 and 264 to vest on 3/11/2027 and 3/11/2028).

Context This was an RSU vesting event with cashless tax withholding (company retained shares to cover taxes), a routine administrative step that does not by itself indicate insider buying or directional sentiment. In plain terms: contingent RSUs became shares, taxes were paid by withholding most of the vested shares, and a small number of shares were delivered to the insider.