Hemhauser Maureen 4

What Happened

• Maureen Hemhauser, EVP & Chief Risk Officer of Peapack Gladstone Financial Corp (PGC), had multiple derivative conversions/exercises and grant entries reported for March 20, 2026. Across the entries she acquired a total of 12,171 shares from conversions/grants and had 8,128 shares disposed (including tax-withheld shares and other derivative settlements), for a net increase of 4,043 shares of common stock.
• Three tax-withholding transactions (Form 4 code F) show 1,052 shares withheld at $33.18 per share, totaling $34,906 withheld to satisfy tax obligations. The filing also reports new RSU grants: 5,386 RSUs (footnote F7) and 1,795 performance-based RSUs (footnote F9) issued on March 20, 2026.

Key Details

• Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (filed within the usual 2-business-day window for Section 16 reporting).
• Notable codes: M = exercise/conversion of derivatives (RSUs/phantom stock), A = award/grant, F = shares withheld to satisfy tax obligations.
• Tax withholding: 1,052 shares withheld at $33.18/share = $34,906 (three F transactions: 220, 387, 445 shares).
• Grants reported: 5,386 RSUs (vesting in three equal annual installments beginning March 20, 2027 — F7) and 1,795 performance RSUs (vesting on 3rd anniversary if conditions met — F9).
• Previous grants/vests referenced in footnotes (2021–2025 grants and vest schedules); footnote F4 notes 1,418 RSUs vested from a 2023 grant.
• Shares owned after the transactions were not listed in the provided data; reported net increase in beneficial ownership from the March 20 activity = +4,043 shares.

Context

• These filings mainly reflect vesting/conversion of RSUs and phantom-stock awards and the related withholding of shares to cover taxes (a routine, non-open-market disposition). That withholding functions like a cashless settlement rather than a discretionary sale.
• Transaction codes: M = exercised/converted derivative (e.g., vested RSUs or phantom shares converting to shares), A = award/grant (new RSUs), F = tax withholding (share-for-taxes).
• This activity appears administrative (vesting, conversion, and grants) rather than an open-market buy or sell; no open-market purchase (P) or market sale (S) is reported.