Vorcheimer Stuart M. 4
4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Peapack Gladstone (PGC) EVP Stuart Vorcheimer Exercises RSUs; Shares Withheld
What Happened
- Stuart M. Vorcheimer, Executive Vice President, Commercial & Industrial Lending at Peapack Gladstone Financial Corp (PGC), had multiple restricted stock unit (RSU) and phantom‑stock tranches convert/vest on March 20, 2026 (reported on Form 4 filed March 24, 2026). The filing shows conversion/exercise events for several derivative awards (examples listed as 1,856; 1,359; 1,699; 1,955 shares, among others) and tax‑withholding share dispositions.
- To satisfy tax withholding on the settled awards, 582 + 427 + 533 + 613 = 2,155 shares were withheld at $33.18 per share, totaling $71,503. Separately, Vorcheimer was granted new RSU awards on March 20, 2026 totaling 7,016 + 2,339 = 9,355 RSUs (these are subject to future vesting conditions).
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (filed within the required two business days).
- Tax withholding: 2,155 shares withheld at $33.18/share for $71,503 (coded "F" on the Form 4).
- Derivative conversions/exercises: multiple "M" entries converting RSUs/phantom stock into underlying shares (individual counts reported in the filing).
- New awards: 7,016 RSUs (F6) and 2,339 RSUs (F8) granted on March 20, 2026 — both subject to vesting schedules/conditions.
- Notable footnotes: F2 = shares withheld to satisfy tax obligations; other footnotes describe prior grants (RSUs and phantom stock) with various vesting schedules and some performance conditions (see F1–F11).
- Shares owned after the transactions: not specified in the excerpt provided.
Context
- These entries are compensation‑related (vesting/conversion of RSUs and phantom stock) rather than open‑market buys or discretionary sales. The tax withholding shares surrendered to the company to pay tax is a routine, non‑market sale (code F).
- Some awards are time‑based and some are performance‑contingent (phantom shares/RSUs noted in footnotes); performance‑based grants only convert if conditions are met.
- No open‑market purchase (P) or open‑market sale (S) by the insider is shown — most activity is vesting/conversion (M) and tax withholding (F).
Insider Transaction Report
Form 4
Vorcheimer Stuart M.
EVP, Comm & Ind Lndg
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-03-20+1,856→ 8,017 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−582$19,311→ 7,435 total - Exercise/Conversion
Common Stock
[F3]2026-03-20+1,359→ 8,794 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−427$14,168→ 8,367 total - Exercise/Conversion
Common Stock
[F4]2026-03-20+1,699→ 10,066 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−533$17,685→ 9,533 total - Exercise/Conversion
Common Stock
[F5]2026-03-20+1,955→ 11,488 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−613$20,339→ 10,875 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-20−1,856→ 3,713 total→ Common Stock (1,856 underlying) - Award
Restricted Stock Units
[F6]2026-03-20+7,016→ 7,016 total→ Common Stock (7,016 underlying) - Exercise/Conversion
Restricted Stock Units
[F3]2026-03-20−1,359→ 1,360 total→ Common Stock (1,359 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-20−1,699→ 3,399 total→ Common Stock (1,699 underlying) - Exercise/Conversion
Restricted Stock Units
[F5]2026-03-20−1,955→ 0 total→ Common Stock (1,955 underlying) - Award
Restricted Stock Units
[F8]2026-03-20+2,339→ 2,339 total→ Common Stock (2,339 underlying) - Exercise/Conversion
Phantom Stock
[F9]2026-03-20−2,378→ 2,379 total→ Common Stock (2,378 underlying) - Exercise/Conversion
Phantom Stock
[F10]2026-03-20−943→ 0 total→ Common Stock (943 underlying)
Holdings
- 1,168.01(indirect: Employee Stock Purchase Plan)
Common Stock
- 1,856
Restricted Stock Units
[F7]→ Common Stock (1,856 underlying) - 2,378
Phantom Stock
[F11]→ Common Stock (2,378 underlying)
Footnotes (11)
- [F1]On March 20, 2025, the reporting person was granted 5,569 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2026. Upon vesting, each RSU converts into one share of PGC common stock.
- [F10]On March 20, 2021, the reporting person was granted 4,703 phantom stock shares, vesting in five equal annual installments beginning on March 20, 2022. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
- [F11]On March 20, 2024, the reporting person was granted 2,378 phantom stock shares, vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
- [F2]Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units.
- [F3]On March 20, 2022, the reporting person was granted 6,796 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2023. Upon vesting, each RSU converts into one share of PGC common stock.
- [F4]On March 20, 2023, the reporting person was granted 8,496 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2024. Upon vesting, each RSU converts into one share of PGC common stock.
- [F5]On March 20, 2023, the reporting person was granted 2,832 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock. 1,955 restricted stock units vested.
- [F6]On March 20, 2026, the reporting person was granted 7,016 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2027. Upon vesting, each RSU converts into one share of PGC common stock.
- [F7]On March 20, 2025, the reporting person was granted 1,856 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- [F8]On March 20, 2026, the reporting person was granted 2,339 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- [F9]On March 20, 2024, the reporting person was granted 7,135 phantom stock shares, vesting in three equal annual installments beginning on March 20, 2025. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
Signature
Stuart Vorcheimer|2026-03-24