AmeriServ settles with activist Driver; repurchases 628K shares, pays $1.76M

AMERISERV FINANCIAL INC /PA/

Repurchases 628,003 shares at $2.38/share ($1.49M total) from Driver Partners.
Pays Driver $1,762,659 settlement; 68% expected to be covered by D&O insurance.
Driver withdraws director nominations and drops all three lawsuits against AmeriServ.
Perpetual standstill: Driver cannot nominate directors, acquire shares, or sue the company.
Mutual non-disparagement and general releases; counterclaim and third-party complaint dismissed.

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