ANDERSON JOHN R III 4/A
4/A · PEOPLES FINANCIAL SERVICES CORP. · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
Peoples Financial (PFIS) COO John Anderson Receives Award; 438 Shares Withheld
What Happened
John R. Anderson III, COO of Peoples Financial Services Corp. (PFIS), had 1,460 performance-based restricted stock units vest on February 27, 2026 (transaction code A). To cover tax withholding (transaction code F), 438 shares were withheld at $53.60 per share, a disposal value of $23,477. The filing is an amendment correcting an earlier Form 4 filed March 3, 2026.
Key Details
- Transaction date: February 27, 2026. Amended Form 4 filed April 10, 2026 to correct previously reported figures. (Original March 3 filing overstated vesting and withholding; see footnote.)
- Vesting: 1,460 performance-based RSUs vested (each RSU = 1 share).
- Tax withholding: 438 shares withheld at $53.60/share for $23,477 (reported as a disposition, code F).
- Shares owned after transaction (per filing): 6,309.748 shares beneficially owned (includes 484 time-based restricted shares, 5,785.748 shares solely owned, and 40 jointly held).
- Footnotes: Amendment corrects prior numbers (previously reported 2,188 vested and 791 withheld). Time-based RSUs vest in three equal annual installments beginning March 11, 2026.
- Timeliness: Filing was amended (marked late correction); the amendment fixes reporting errors rather than changing the underlying vesting event.
Context
This was an award vesting event, not a market purchase or sale for investment purposes. Withholding shares to cover taxes is a common administrative step and does not necessarily indicate a change in insider sentiment. Performance-based RSUs convert to common shares upon vesting; time-based RSUs have separate vesting schedule beginning March 11, 2026.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-27+1,460→ 6,747.748 total - Tax Payment
Common Stock
[F1][F2]2026-02-27$53.60/sh−438$23,477→ 6,309.748 total
- 1,880(indirect: By 401(k))
Common Stock
- 866
Restricted Stock Units
[F3][F4]→ COMMON STOCK (866 underlying)
Footnotes (4)
- [F1]On March 3, 2026, the reporting person filed a Form 4 which inadvertently reported the vesting of 2,188 performance-based stock awards and 791 shares withheld for taxes. As reported in this amendment, 1,460 performance-based stock awards vested and 438 shares were withheld for taxes.
- [F2]This amount includes 484 shares of time based restricted common stock solely owned by Mr. Anderson, 5,785.748 shares solely owned by Mr. Anderson, and 40 shares held jointly with his spouse.
- [F3]Each restricted stock unit represents a contingent right to receive one share of PFIS common stock.
- [F4]The restricted stock units vest in three equal annual installments beginning March 11, 2026.