TULANEY THOMAS P 4/A
Research Summary
AI-generated summary
Peoples Financial (PFIS) President Thomas P. Tulaney Receives Award; 633 Shares Withheld
What Happened
- Thomas P. Tulaney, President of Peoples Financial Services Corp. (PFIS), had 1,880 performance-based restricted stock units (RSUs) vest on Feb 27, 2026 (acquired at $0.00). To cover tax withholding, 633 shares were retained/disposed at $53.60 per share, totaling $33,929. This filing is an amendment correcting amounts reported on the Form 4 filed March 3, 2026.
Key Details
- Transaction date: February 27, 2026.
- Award: 1,880 performance-based RSUs vested (code A), reported as acquired at $0.00.
- Tax withholding: 633 shares withheld/disposed (code F) at $53.60 each = $33,929.
- Shares owned after transaction: 21,736 total beneficially owned after the transaction (607 time‑based restricted shares solely owned; 21,129 shares held jointly with spouse) [per filing footnote].
- Footnote corrections: original March 3 Form 4 incorrectly reported 2,818 performance awards vesting and 1,121 shares withheld; this amendment corrects those figures to 1,880 vested and 633 withheld.
- RSU details: each restricted stock unit equals one share; certain restricted stock units vest in three equal annual installments beginning March 11, 2026 (time‑based RSUs).
Context
- The main event was vesting of performance RSUs (an award/acquisition). The 633-share disposition was a tax-withholding (not an open-market sale) — a routine administrative step to satisfy tax obligations rather than a directional trade. The filing is an amended Form 4 to correct previously reported numbers; the original Form 4 was filed March 3, 2026.