Smith Gregory Martin 4
4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Peapack Gladstone (PGC) SVP Gregory M. Smith Exercises Awards, Shares Withheld
What Happened Gregory M. Smith, Senior Executive Vice President and President of Commercial Banking at Peapack Gladstone Financial Corp (PGC), converted vested derivative awards into common stock on March 20, 2026. The filing shows exercises/conversions totaling 12,844 shares (1,640 + 1,570 + 1,559 + 8,075). To satisfy tax-withholding obligations, the company withheld 4,400 shares at a withholding price of $33.18 per share, resulting in cash withheld of $145,992. On the same date Smith received new grants: 6,863 restricted stock units (RSUs) vesting in three annual installments (F6) and 10,294 performance-based RSUs (F8) that vest on the third anniversary if performance conditions are met.
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (timely).
- Exercise/conversion (derivative) shares: 1,640; 1,570; 1,559; 8,075 — total 12,844 shares converted.
- Shares withheld for taxes (F2): 562 + 538 + 534 + 2,766 = 4,400 shares; withholding price $33.18; total tax withholding $145,992.
- Grants on March 20, 2026: 6,863 RSUs (time-vested, F6) and 10,294 performance RSUs (F8).
- Notable vesting: 8,075 restricted stock units vested (per F5 — prior grant).
- Shares owned after the transactions are not specified in the provided excerpt of the filing.
- Transaction codes: M = exercise/conversion of derivatives; F = tax withholding; A = grant/award.
Context These actions appear to be routine compensation-related events: vested RSUs/phantom shares were converted to common stock and a portion of the shares was withheld to satisfy tax obligations (a common "sell-to-cover" / net settlement method). The new RSU and performance-RSU grants issued the same day are future-vesting and do not represent open-market purchases. No late filing was indicated in the provided data.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20+1,640→ 7,068 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−562$18,647→ 6,506 total - Exercise/Conversion
Common Stock
[F3]2026-03-20+1,570→ 8,076 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−538$17,851→ 7,538 total - Exercise/Conversion
Common Stock
[F4]2026-03-20+1,559→ 9,097 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−534$17,718→ 8,563 total - Exercise/Conversion
Common Stock
[F5]2026-03-20+8,075→ 16,638 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−2,766$91,776→ 13,872 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-20−1,640→ 3,282 total→ Common Stock (1,640 underlying) - Award
Restricted Stock Units
[F6]2026-03-20+6,863→ 6,863 total→ Common Stock (6,863 underlying) - Exercise/Conversion
Restricted Stock Units
[F3]2026-03-20−1,570→ 1,573 total→ Common Stock (1,570 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-20−1,559→ 3,120 total→ Common Stock (1,559 underlying) - Exercise/Conversion
Restricted Stock Units
[F5]2026-03-20−8,075→ 0 total→ Common Stock (8,075 underlying) - Award
Restricted Stock Units
[F8]2026-03-20+10,294→ 10,294 total→ Common Stock (10,294 underlying) - Exercise/Conversion
Phantom Stock
[F9]2026-03-20−1,801→ 1,801 total→ Common Stock (1,801 underlying) - Exercise/Conversion
Phantom Stock
[F10]2026-03-20−754→ 0 total→ Common Stock (754 underlying)
- 7,383
Restricted Stock Units
[F7]→ Common Stock (7,383 underlying) - 8,103
Phantom Stock
[F11]→ Common Stock (8,103 underlying)
Footnotes (11)
- [F1]On March 20, 2025, the reporting person was granted 4,922 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 3,762 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 8,103 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 7,853 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 7,797 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 11,695 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. 8,075 restricted stock units vested.
- [F6]On March 20, 2026, the reporting person was granted 6,863 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 7,383 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 10,294 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 5,402 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.