---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-008654"
form_type: "8-K"
ticker: "CZNC"
cik: "0000810958"
company_name: "CITIZENS & NORTHERN CORP"
filed_at: "2024-05-28T23:59:59+00:00"
generated_at: "2026-06-01T08:27:18.798147+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CEO Scovill extends term to April 2027; receives 20,000 restricted stock shares as retention incentive

## Summary
- Term extended through April 30, 2027; one-time grant of 20,000 restricted shares vests on that date, accelerating on termination without cause or for good reason.
- Upon termination without cause or for good reason, all outstanding equity grants continue vesting; performance-based awards prorated based on days served.
- Annual base salary maintained at $592,000; eligible for annual bonus, car allowance, country club dues, and employee benefits.
- Change-in-control termination triggers lump sum of 2.99x highest annual compensation plus 36-month continuation of health/welfare benefits.

## SEC filing metadata
- accession: 0001558370-24-008654
- form_type: 8-K
- ticker: CZNC
- cik: 0000810958
- company_name: CITIZENS & NORTHERN CORP
- filed_at: 2024-05-28T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/810958/000155837024008654/0001558370-24-008654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/810958/000155837024008654/cznc-20240522x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-008654
- JSON: https://secwatch.observer/filing/0001558370-24-008654.json
- Plain text: https://secwatch.observer/filing/0001558370-24-008654.txt

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