Peoples Financial Services Corp. has introduced a new Severance and Change in Control Plan for its Chief Executive Officer and leadership team, effective September 2, 2025. This plan offers severance benefits under specific conditions, such as the elimination of an executive's position without replacement, a termination not for cause, or a resignation with good reason. In cases of a Qualifying Termination, the CEO, categorized under Tier I, will receive benefits including continued payment of base salary for 18 months and a pro rata annual bonus for the year of termination. The plan aims to support executives through significant organizational changes.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Peoples Financial Services Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-087826), on September 05, 2025, and is solely responsible for the information contained therein.