PFIS enters employment agreement with Gerard Champi; CEO promotion planned by July 2025

PEOPLES FINANCIAL SERVICES CORP.

Employment agreement with Gerard A. Champi, President, effective July 26, 2024; three-year term with automatic renewal.
Champi to be promoted to CEO of Peoples Financial Services and Peoples Security Bank on or before July 1, 2025.
Base salary at least $450,000; eligible for bonus, equity awards, SERP, country club dues, and company car.
Severance: 2x base salary plus avg bonus for involuntary termination; 2.99x base salary in change-of-control or if CEO promotion fails.
Restrictive covenants on confidentiality, non-competition, and non-solicitation included.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Gerard A. Champi

Chief Executive Officer

PFIS · PEOPLES FINANCIAL SERVICES CORP.

Filed: July 29, 2024, 7:59 PM ET

The Champi Employment Agreement contemplates that Peoples and Peoples Bank will promote Mr. Champi to the position of Chief Executive Officer on or prior to July 1, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gerard A. Champi changed role as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..

Action: promoted
Role: Chief Executive Officer

Exact text from the filing

The Champi Employment Agreement contemplates that Peoples and Peoples Bank will promote Mr. Champi to the position of Chief Executive Officer on or prior to July 1, 2025.

View on SEC.gov

PEOPLES FINANCIAL SERVICES CORP. filing history →

Source: SEC EDGAR

accession 0001104659-24-083527

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.