secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2024-06-24T23:59:59+00:00
Accession:  0000739421-24-000048
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000048/0000739421-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000073942124000048/serpamendment.htm
  HTML page:      https://secwatch.observer/filing/0000739421-24-000048

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