Kirtley Timothy 4

What Happened Timothy Kirtley, EVP and Chief Risk Officer of Peoples Financial Services Corp. (PFIS), had 281 restricted stock units (RSUs) vest on March 11, 2026. The 281 RSUs converted one-for-one into 281 shares of PFIS common stock. To satisfy tax withholding obligations, 168 of those shares were surrendered at an implicit withholding price of $51.80 per share (tax value $8,702), leaving 113 shares delivered to Kirtley.

Key Details

• Transaction date: 2026-03-11; Form 4 filed 2026-03-13 (timely).
• Codes: M = exercise/conversion of derivative (RSU vesting); F = payment of tax liability via share withholding.
• RSUs vested: 281; shares withheld for taxes: 168 at $51.80 each; cash value withheld reported $8,702.
• Net shares received: 113 (281 vested − 168 withheld).
• Shares owned after the transaction: 6,600 total (per filing footnote: includes 164 time‑based restricted shares and 6,436 solely owned shares).
• Relevant footnotes: the RSUs convert 1:1 to common stock; the 281 vested are part of an 826‑RSU grant made 3/28/2025 (vesting in annual installments: 281 vested 3/11/2026; remaining 273 and 272 to vest in 2027 and 2028).

Context

• This was not an open‑market sale or purchase; it was routine RSU vesting with company share withholding to cover taxes (a common, non‑informational administrative action).
• Transaction codes show a conversion of derivative awards (M) and share withholding for taxes (F). No cashless market sale to a third party was reported.
• Filing appears timely (filed two days after the vesting date).