Citizens Financial Services Inc. Amends Executive Retirement Plan
Ticker: CZFS · Form: 8-K · Filed: Jun 24, 2024 · CIK: 739421
| Field | Detail |
|---|---|
| Company | Citizens Financial Services Inc (CZFS) |
| Form Type | 8-K |
| Filed Date | Jun 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, serp, amendment
Related Tickers: CZFS
TL;DR
CZFS amended its SERP, affecting exec comp. Details light.
AI Summary
Citizens Financial Services Inc. announced on June 18, 2024, a significant amendment to its Supplemental Executive Retirement Plan (SERP). This amendment impacts the compensation arrangements for certain officers, though specific details regarding the financial implications or individuals affected are not provided in this filing.
Why It Matters
Changes to executive retirement plans can signal shifts in executive compensation strategy or potential future financial obligations for the company.
Risk Assessment
Risk Level: medium — Amendments to executive compensation plans can introduce uncertainty regarding future financial commitments and executive retention.
Key Players & Entities
- Citizens Financial Services Inc. (company) — Registrant
- June 18, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the Supplemental Executive Retirement Plan (SERP)?
The filing states that the SERP was amended, but the specific details of the changes are not elaborated upon in this document.
Which officers are affected by this SERP amendment?
The filing indicates that the amendment pertains to 'certain officers' but does not name the specific individuals.
What is the effective date of the SERP amendment?
The earliest event reported is June 18, 2024, which is the date of the report.
Are there any immediate financial implications disclosed due to this SERP amendment?
No immediate financial implications or updated figures are disclosed in this particular filing related to the SERP amendment.
Where can I find the full details of the amended SERP?
The filing mentions an exhibit 'CZFS SERP AMENDMENT 8-K' which would contain the full details, but this exhibit is not provided in the text.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 12.8 · Accepted 2024-06-24 16:10:16
Key Financial Figures
- $1.00 — ch registered Common Stock, Par Value $1.00 Per Share CZFS NASDAQ Capital Marke
Filing Documents
- serpamendment.htm (8-K) — 23KB
- thirdamendmenttoserp.htm (EX-10.1) — 8KB
- 0000739421-24-000048.txt ( ) — 165KB
- czfs-20240618.xsd (EX-101.SCH) — 4KB
- czfs-20240618_lab.xml (EX-101.LAB) — 21KB
- czfs-20240618_pre.xml (EX-101.PRE) — 16KB
- serpamendment_htm.xml (XML) — 4KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 Third Amendment to Supplemental Employee Retirement Plan, dated June 18, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CITIZENS FINANCIAL SERVICES, INC. June 24, 2024 By: /s/ Stephen J. Guillaume Stephen J. Guillaume Chief Financial Officer