BONE JAMES M JR 4

What Happened
James M. Bone Jr., CFO of Peoples Financial Services Corp. (PFIS), had 317 restricted stock units (RSUs vest) on March 11, 2026. The 317 RSUs converted into 317 common shares and an equal number of shares were disposed at $0.00 (no cash proceeds), consistent with shares being surrendered/withheld to satisfy tax withholding. The filing for the transaction was made on March 13, 2026.

Key Details

• Transaction date: 2026-03-11 (reported on Form 4 filed 2026-03-13). Filing appears within the normal 2-business-day window.
• Transaction types: M (exercise/conversion of derivative/RSU).
• Shares acquired via conversion: 317 common shares.
• Shares disposed: 317 shares at $0.00 (zero proceeds) — indicates shares were withheld/surrendered (tax withholding).
• Shares beneficially owned after the transaction: 10,797.9104 shares (per footnote, comprised of 1,128 solely owned time-based restricted shares; 8,701 jointly held with spouse; 890 co-owned with family; and 78.9104 solely owned).
• Remaining unvested RSUs from the 3/28/2025 grant: 308 RSUs vesting 3/11/2027 and 307 RSUs vesting 3/11/2028 (932 RSUs total; 317 vested on 3/11/2026).

Context

• This was an RSU vesting event (award conversion), not an open-market purchase or sale for cash; the zero-dollar disposal is a routine administrative withholding to cover taxes and does not represent a market sale for proceeds.
• Such vested-award conversions are common compensation events and do not alone signal insider sentiment about the stock.