Filing Analysis
Citizens Financial Services, Inc. announced the date for its upcoming 2025 annual meeting of shareholders.
📋 Key Facts
- The 2025 Annual Meeting of Shareholders is scheduled for Tuesday, April 15, 2025.
Citizens Financial Services, Inc. filed an 8-K to furnish its Third Quarter 2024 Investor Presentation via Item 7.01 (Regulation FD Disclosure). This is a routine disclosure of investor materials used in meetings with analysts and investors.
📋 Key Facts
- Filing date: October 30, 2024
- The company furnished an investor presentation as Exhibit 99.1.
- The filing pertains to the Third Quarter 2024 results/updates.
- Information is provided under Item 7.01 (Regulation FD Disclosure) and is not considered 'filed' for purposes of Section 18 liability.
Citizens Financial Services, Inc. filed an 8-K to announce its unaudited consolidated financial results for the third quarter of 2024.
📋 Key Facts
- Report date: September 30, 2024; Filing date: October 30, 2024.
- The filing pertains to Item 2.02 (Results of Operations and Financial Condition).
- CEO Randall E. Black announced the unaudited results via press release.
Citizens Financial Services, Inc. filed an 8-K to furnish its Second Quarter 2024 Investor Presentation under Regulation FD. The filing is intended for use in investor meetings and does not constitute a formal material agreement or financial restatement.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- The company furnished an investor presentation (Exhibit 99.1) regarding its Second Quarter 2024 results.
- Filing date: July 31, 2024.
- The information is provided under Item 7.01 (Regulation FD Disclosure).
- The materials are intended for use in meetings with investors.
Citizens Financial Services, Inc. announced its unaudited consolidated financial results for the second quarter of 2024 via a press release issued on July 30, 2024.
📋 Key Facts
- Reporting period: Second Quarter 2024 (ended June 30, 2024).
- CEO Randall E. Black announced the results.
- Results are unaudited and were released via press release on July 30, 2024.
Citizens Financial Services, Inc. announced the appointment of Jeffrey R. White as Chief Operating Officer and the election of two new directors, Terry B. Osborne and John P. Painter II, to its Board of Directors.
📋 Key Facts
- Jeffrey R. White appointed as Chief Operating Officer effective July 11, 2024.
- Mr. White previously served as Deputy Chief Risk Officer at Northwest Bancshares, Inc.
- Terry B. Osborne and John P. Painter II were appointed to the Board of Directors on July 16, 2024.
- John P. Painter II will serve on the Audit and Examination Committee.
The Company amended its Supplemental Employee Retirement Plan (SERP) to modify the calculation of retirement benefits for President and CEO Randall E. Black.
🚩 Red Flags
- Modification of executive compensation structure (SERP) can sometimes be a precursor to leadership transition or an attempt to lock in benefits for departing executives.
📋 Key Facts
- Amendment dated June 18, 2024, regarding the Third Amendment to the SERP.
- Modifies 'Final Average Pay' calculation for CEO Randall E. Black.
- New calculation method: Uses highest average annual compensation from any three non-consecutive completed calendar years within the ten years preceding termination/role change, rather than the three consecutive years previously used.
Citizens Financial Services Inc. filed this 8-K to disclose the determination and payment of annual incentive plan awards for named executive officers for fiscal year 2023, which were not finalized at the time of the company's Proxy Statement filing.
📋 Key Facts
- CEO Randall E. Black received a cash bonus of $519,918 for FY2023.
- COO Mickey L. Jones received a cash bonus of $230,541 for FY2023.
- David Z. Richards, Jr. received an $80,236 bonus (70% cash, 30% restricted shares).
- The Restricted Share Award to Mr. Richards consists of 557 shares with a grant date fair value of $24,035.
- Median annual compensation for all employees was determined to be $41,841.
- The CEO pay ratio is disclosed as 30.1:1.
Citizens Financial Services, Inc. filed an 8-K to announce its unaudited consolidated financial results for the first quarter ended March 31, 2024.
📋 Key Facts
- Reporting period: First Quarter 2024 (ended March 31, 2024).
- CEO Randall E. Black announced the unaudited results via press release on April 25, 2024.
- The filing includes Exhibit 99.1 containing the full press release of financial results.
Citizens Financial Services, Inc. announced the retirement of Mickey L. Jones, Senior Executive Vice President and Chief Operating Officer, effective June 7, 2024. The filing also reports results from the company's 2024 Annual Meeting of Shareholders.
🚩 Red Flags
- Departure of a Senior Executive Vice President/COO (though framed as retirement).
📋 Key Facts
- Mickey L. Jones (SVP and COO) will retire on June 7, 2024.
- The 2024 Annual Meeting of Shareholders was held on April 16, 2024.
- Shareholders ratified S.R. Snodgrass, P.C. as the independent registered public accounting firm for fiscal year 2024.
- Shareholders approved executive compensation via a non-binding advisory vote.
- The Board of Directors size was reduced from 12 to 11 members following a retirement.
- Shareholders voted to hold the advisory vote on executive compensation on an annual basis.
Citizens Financial Services, Inc. filed an 8-K to announce a presentation being delivered at the company's 2024 Annual Meeting of Shareholders on April 16, 2024.
📋 Key Facts
- The filing is related to Item 7.01 (Regulation FD Disclosure).
- An investor presentation was issued on April 16, 2024, as Exhibit 99.1.
- The presentation was delivered during the 2024 Annual Meeting of Shareholders.
Citizens Financial Services, Inc. announced its unaudited consolidated financial results for the fourth quarter and full year of 2023 on January 30, 2024.
📋 Key Facts
- Reporting date: January 30, 2024
- Period covered: Fourth Quarter and Full Year 2023
- CEO Randall E. Black announced the results via press release.
- Financial results are unaudited.