Earnings Feed
Start Free
PEAPACK GLADSTONE FINANCIAL CORP·4

Mar 24, 4:20 PM ET

KENNEDY DOUGLAS L 4

Research Summary

AI-generated summary

Updated

Peapack Gladstone CEO Douglas Kennedy Exercises RSUs, Withholds Shares

What Happened
Douglas L. Kennedy, President & CEO of Peapack Gladstone Financial Corp. (PGC), had multiple derivative awards convert or vest on March 20, 2026 and received new RSU grants the same day. An aggregate of 3,781 shares were withheld/disposed to cover tax withholding at $33.18 per share (1,993 shares = $66,128 and 1,788 shares = $59,326; total ≈ $125,454). The filing also shows vested/converted units (including 18,097 restricted stock units that vested per footnote F6) and new awards granted: 16,150 RSUs (F7) and 24,225 RSUs (F9), both subject to future vesting/performance schedules.

Key Details

  • Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (timely within required reporting window).
  • Tax withholding: 1,993 shares withheld for $66,128 and 1,788 shares withheld for $59,326 (share price shown $33.18). Total cash value ≈ $125,454. (Code F = tax withholding.)
  • Conversions/exercises: Multiple "M" transactions reflect exercise/conversion of derivative awards (vested RSUs/phantom stock). Footnote F6 confirms 18,097 RSUs vested.
  • Awards granted: 16,150 RSUs (vesting beginning Mar 20, 2027 in installments; F7) and 24,225 RSUs (performance-based vesting on the 3rd anniversary; F9).
  • Post-transaction shareholdings: total shares owned after these events are not provided in the summary data shown.
  • No open-market sale or purchase reported — transactions are primarily vesting/conversion and tax withholding, not voluntary market trades.

Context

  • Code legend: M = exercise or conversion of derivative (typically vesting of RSUs/phantom units); F = shares withheld to satisfy tax withholding; A = grant/award. These conversions are commonly routine vesting or settlement events rather than an insider selecting to sell shares on the open market.
  • New RSU grants are forward-looking compensation subject to future vesting and/or performance conditions and do not represent immediate ownership of free-trading shares.
  • Filing appears timely (filed within two business days of the Mar 20 transactions).