Vorcheimer Stuart M. 4

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).