---
schema_version: "secwatch.filing_event.v1"
accession: "0000739421-25-000005"
form_type: "8-K"
ticker: "CZFS"
cik: "0000739421"
company_name: "CITIZENS FINANCIAL SERVICES INC"
filed_at: "2025-01-03T23:59:59+00:00"
generated_at: "2026-05-28T16:25:04.758018+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Citizens Financial Services enters change-in-control agreements with two senior executives

## Summary
- Agreements with David Z. Richards Jr. (Senior EVP, Director Emerging Markets) and Stephen J. Guillaume (SVP, CFO), effective Dec 31, 2024.
- Upon qualifying termination related to a change in control, each executive receives lump sum equal to 1x base salary plus average bonus, and pro rata bonus.
- Continued health and long-term disability insurance for 18 months; accelerated vesting of time-based equity awards.
- Non-compete for 12 months and non-solicitation for 18 months post-termination.

## SEC filing metadata
- accession: 0000739421-25-000005
- form_type: 8-K
- ticker: CZFS
- cik: 0000739421
- company_name: CITIZENS FINANCIAL SERVICES INC
- filed_at: 2025-01-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/739421/000073942125000005/0000739421-25-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/739421/000073942125000005/changeincontrolagreements.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000739421-25-000005
- JSON: https://secwatch.observer/filing/0000739421-25-000005.json
- Plain text: https://secwatch.observer/filing/0000739421-25-000005.txt

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