Item 8.01 Other Events.

On December 1, 2021, Univest Financial Corporation (the "Corporation") and its insurance subsidiary, Univest Insurance, LLC., issued a press release announcing the acquisition of the Paul I. Sheaffer Insurance Agency, a full-service firm providing insurance solutions to businesses and individuals in Central Pennsylvania.

The Corporation paid $3.8 million in cash at closing with additional contingent consideration to be paid in annual installments, over the three-year period ending November 30, 2024, based on the achievement of certain levels of EBITDA (earnings before interest, taxes, depreciation and amortization). The potential cash payments that could result from the contingent consideration arrangement range from $0 to a maximum of $1.9 million cumulative over the next three years. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1.




                 Item 9.01   Financial Statements and Exhibits.



(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

     Exhibit No.              Description of Document

        99.1                    Press release issued by Univest Financial Corporation on December 1,
                              2021

         104                  The cover page from the Corporation's Form 8-K, formatted in Inline
                              XBRL

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses