---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-148177"
form_type: "8-K"
ticker: "NWFL"
cik: "0001013272"
company_name: "NORWOOD FINANCIAL CORP"
filed_at: "2022-05-12T23:59:59+00:00"
generated_at: "2026-06-25T17:31:30.945632+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Norwood appoints CEO James Donnelly to board; enters employment agreement with $425K salary

## Summary
- James O. Donnelly appointed to board, filling vacancy from retirement of William W. Davis Jr., term expires at 2024 annual meeting.
- Employment agreement with Norwood and Wayne Bank: $425,000 annual base salary, 36-month initial term with automatic extension.
- Sign-on equity award of 3,000 shares vesting 70% after one year, 10% annually thereafter; 2022 pro-rata cash bonus at 36% target.
- Salary Continuation Agreement provides $125,000 annual benefit for 15 years starting at age 65; severance up to 2.999x 5-year average pay upon change-in-control.
- Donnelly appointed to Executive, Loan, and Trust Committees of the board.

## SEC filing metadata
- accession: 0001193125-22-148177
- form_type: 8-K
- ticker: NWFL
- cik: 0001013272
- company_name: NORWOOD FINANCIAL CORP
- filed_at: 2022-05-12T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013272/000119312522148177/0001193125-22-148177-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013272/000119312522148177/d327745d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-148177
- JSON: https://secwatch.observer/filing/0001193125-22-148177.json
- Plain text: https://secwatch.observer/filing/0001193125-22-148177.txt

## Key facts
- Executive change
  James O. Donnelly was appointed as Director at NORWOOD FINANCIAL CORP.
  - Action: appointed
  - Role: Director
  source text: James O. Donnelly, President and Chief Executive Officer of the Company, was appointed as a director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013272/000119312522148177/0001193125-22-148177-index.htm
- Executive change
  William W. Davis, Jr. retired as Director at NORWOOD FINANCIAL CORP.
  - Action: retired
  - Role: Director
  source text: fill the vacancy created by the retirement of William W. Davis, Jr.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013272/000119312522148177/0001193125-22-148177-index.htm

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