Cavallaro Frank A. 4

What Happened
Frank A. Cavallaro, Chief Financial Officer of Peapack Gladstone Financial Corp. (PGC), reported multiple derivative exercises/conversions and new equity awards on March 20, 2026. The filing shows exercises/conversions (Form 4 code M) for a total of 4,744 derivative units (1,615 + 1,666 + 1,463) and awards/grants (code A) totaling 18,521 units (7,408 RSUs + 11,113 RSUs/phantom units). No per-share prices or cash amounts are reported (N/A), and several of the grants are subject to time-based vesting or performance conditions.

Key Details

• Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (appears to be timely — filed within the two-business-day window).
• Transaction types/codes: M = exercise/conversion of derivatives; A = grant/award.
• Specific line items reported: exercises/conversions of 1,615; 1,666; and 1,463 derivative units; grants of 7,408 and 11,113 RSUs/phantom units.
• Prices/values: all listed as N/A in the filing (no dollar values reported).
• Shares owned after transaction: not specified in the excerpt provided. Check the full filing for current beneficial ownership totals.
• Relevant footnotes:
  • F3/F5: The 7,408 RSUs (F3) vest in three equal annual installments starting 3/20/2027; the 11,113 RSUs (F5) vest on the third anniversary if certain performance conditions are met.
  • F1–F2 and F4–F7: earlier RSU and phantom-stock grants (2023–2025) with various time- and performance-based vesting; phantom shares are economic equivalents of common stock upon vesting.

Context and how to read this as an investor

• RSUs/phantom shares are awards that convert to (or pay the economic equivalent of) common stock upon vesting; they are not open-market purchases and typically reflect compensation rather than a market sentiment trade.
• "M" entries indicate conversion/exercise of derivative awards (e.g., options, RSU conversions, or phantom settlements); where matching "Disposed" entries appear, that often reflects settlement mechanics (tax withholding or conversion) rather than an open-market sale—review the full Form 4 for settlement details.
• These types of filings are largely compensation-related; they don’t necessarily indicate buying/selling for investment reasons.