{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-083527","form_type":"8-K","ticker":"PFIS","cik":"0001056943","company_name":"PEOPLES FINANCIAL SERVICES CORP.","filed_at":"2024-07-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:12.046045+00:00","generated_at":"2026-05-31T15:37:15.897598+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"PFIS enters employment agreement with Gerard Champi; CEO promotion planned by July 2025","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-083527","json":"https://secwatch.observer/filing/0001104659-24-083527.json","markdown":"https://secwatch.observer/filing/0001104659-24-083527.md","text":"https://secwatch.observer/filing/0001104659-24-083527.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1056943/000110465924083527/0001104659-24-083527-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1056943/000110465924083527/tm2420105d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T15:37:15.897598+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6b38ed447b","claim":"Gerard A. Champi changed role as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1056943/000110465924083527/0001104659-24-083527-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"promoted"},{"label":"Role","value":"Chief Executive Officer"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}