---
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"
generated_at: "2026-05-31T15:37:15.897598+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-083527
- JSON: https://secwatch.observer/filing/0001104659-24-083527.json
- Plain text: https://secwatch.observer/filing/0001104659-24-083527.txt

## Key facts
- Executive change
  Gerard A. Champi changed role as Chief Executive Officer at PEOPLES FINANCIAL SERVICES CORP..
  - Action: promoted
  - Role: Chief Executive Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1056943/000110465924083527/0001104659-24-083527-index.htm

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