Smith Gregory Martin 4

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.