ROSSI FRANCESCO S 4
4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Peapack (PGC) SVP Francesco Rossi Converts Awards, Receives Grant
What Happened Francesco S. Rossi, Senior Vice President and Chief Accounting Officer of Peapack Gladstone Financial Corp. (PGC), settled multiple vested derivative awards into common stock on March 20, 2026 and had 280 shares withheld to cover tax withholding obligations (280 × $33.18 = $9,290). On the same date he received a new grant of 1,893 phantom stock shares (a derivative award), which vest in three equal annual installments beginning March 20, 2027. No open‑market cash sale other than the shares withheld for taxes is reported.
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (filed within required 2 business days — timely).
- Reported actions: multiple exercise/conversion of derivatives (code M), tax withholding (code F — 280 shares at $33.18 totaling $9,290), and a grant/award (code A — 1,893 phantom shares). Most entries show N/A for per‑share price because these are vesting/conversion events.
- Shares owned after the transactions: not provided in the excerpt of the filing.
- Relevant footnotes summarize prior grants and vesting schedules (RSUs granted March 20, 2023; phantom grants in 2021, 2024, 2025, and the new 2026 grant) and confirm the withheld shares were to satisfy tax withholding obligations.
Context This filing reflects routine settlement of equity awards and a new award grant, not an open‑market buy or directed sale (other than tax withholding). Exercises/conversions here represent vested RSUs/phantom shares being settled into the economic equivalent of common stock; withholding of shares to cover taxes is a common administrative step and does not necessarily indicate a change in insider sentiment. The new 1,893 phantom shares are a derivative award that will only convert economically (or into stock equivalents) as they vest per the stated schedule.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20+763→ 5,967 total - Tax Payment
Common Stock
[F2]2026-03-20$33.18/sh−280$9,290→ 5,687 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-20−763→ 0 total→ Common Stock (763 underlying) - Exercise/Conversion
Phantom Stock
[F3]2026-03-20−743→ 743 total→ Common Stock (743 underlying) - Exercise/Conversion
Phantom Stock
[F4]2026-03-20−584→ 1,170 total→ Common Stock (584 underlying) - Award
Phantom Stock
[F5]2026-03-20+1,893→ 1,893 total→ Common Stock (1,893 underlying) - Exercise/Conversion
Phantom Stock
[F6]2026-03-20−255→ 0 total→ Common Stock (255 underlying)
- 4,943.79(indirect: Employee Stock Purchase Plan)
Common Stock
Footnotes (6)
- [F1]On March 20, 2023, the reporting person was granted 2,288 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2024. Upon vesting, each RSU converts into one share of PGC common stock.
- [F2]Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units.
- [F3]On March 20, 2024, the reporting person was granted 2,228 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.
- [F4]On March 20, 2025, the reporting person was granted 1,754 phantom stock shares, vesting in three equal annual installments beginning on March 20, 2026. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
- [F5]On March 20, 2026, the reporting person was granted 1,893 phantom stock shares, vesting in three equal annual installments beginning on March 20, 2027. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
- [F6]On March 20, 2021, the reporting person was granted 1,259 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.