---
schema_version: "secwatch.filing_event.v1"
accession: "0000739421-24-000048"
form_type: "8-K"
ticker: "CZFS"
cik: "0000739421"
company_name: "CITIZENS FINANCIAL SERVICES INC"
filed_at: "2024-06-24T23:59:59+00:00"
generated_at: "2026-06-01T02:38:39.308640+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Citizens Financial amends CEO SERP to use highest 3-year compensation in last 10 years

## Summary
- Board approved Third Amendment to SERP for CEO Randall E. Black, effective June 18, 2024.
- Final Average Pay now based on highest average annual compensation from any three non-consecutive years in prior ten years.
- Previous calculation used three consecutive years preceding termination or salary reduction.
- No material financial impact disclosed; change applies only to CEO per Appendix C.

## SEC filing metadata
- accession: 0000739421-24-000048
- form_type: 8-K
- ticker: CZFS
- cik: 0000739421
- company_name: CITIZENS FINANCIAL SERVICES INC
- filed_at: 2024-06-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/739421/000073942124000048/0000739421-24-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/739421/000073942124000048/serpamendment.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000739421-24-000048
- JSON: https://secwatch.observer/filing/0000739421-24-000048.json
- Plain text: https://secwatch.observer/filing/0000739421-24-000048.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.