James P. Chiaro - Jul 1, 2024 Form 4 Insider Report for FNCB Bancorp, Inc. (FNCB)

Role
EVP/CHIEF INV SERVICES OFFICER
Signature
/s/ Stephanie A. Westington, CPA, as Attorney in Fact for James P. Chiaro
Stock symbol
FNCB
Transactions as of
Jul 1, 2024
Transactions value $
$0
Form type
4
Date filed
7/1/2024, 05:37 PM
Previous filing
Feb 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FNCB COMMON STOCK Disposed to Issuer -1.06K -100% 0 Jul 1, 2024 Direct F1, F2
transaction FNCB COMMON STOCK Disposed to Issuer -25.4K -100% 0 Jul 1, 2024 By Chiaro Investment Services, LLC F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

James P. Chiaro is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The shares were disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of September 27, 2023, by and between Peoples Financial Services Corp. ("Peoples") and FNCB Bancorp, Inc. ("FNCB"). Pursuant to the Merger Agreement, at the Effective Time (as defined in the Merger Agreement), each share of common stock, $1.25 par value, of FNCB was converted into the right to receive 0.1460 shares of common stock, $2.00 par value, of Peoples and cash in lieu of fractional shares.
F2 This amount includes 32.054 shares acquired in June 2024 by the Reporting Person pursuant to the Issuer's Dividend Reinvestment and Stock Purchase Plan.
F3 Includes 13,551 restricted shares of FNCB's common stock that were issued in connection with the purchase of substantially all of the assets of Chiaro Investment Services, LLC pursuant to the Asset Purchase Agreement dated September 30, 2022 by and between FNCB and the Chiaro Investment Services, LLC and consummated on the same date ("Purchase Agreement"). The remaining restricted shares of common stock will be released based on the achievement of quarterly net commissions and fees in accordance with a schedule set forth in the Purchase Agreement. Any shares not eligible to be released by August 15, 2027 will be forfeited and canceled.