BABCOCK JOHN P 4

What Happened

• John P. Babcock, Senior EVP and President of Private Wealth Management at Peapack Gladstone Financial Corp (PGC), had multiple restricted/phantom stock awards convert or vest on March 20, 2026 and received new grants the same day. In aggregate the filing shows about 43,227 shares were acquired/awarded (vests/conversions + new RSU awards) and 28,918 shares were disposed/settled. Of the disposed shares, 4,336 were withheld to satisfy tax liabilities, with reported withholding proceeds of $143,868 (tax withholding reported at $33.18/share). Several other derivative settlements were reported with no per-share price disclosed.

Key Details

• Transaction date(s): March 20, 2026. Form 4 filed March 24, 2026 (timely within SEC two-business-day window).
• Main codes: M = exercise/conversion of derivative (vest/settlement of RSUs/phantom shares); F = shares withheld to pay tax liability; A = grant/award (new RSUs).
• Quantities reported (approx.): ~43,227 shares acquired/awarded (includes new grants of 9,362 RSUs and 14,043 RSUs); ~28,918 shares disposed/settled (including 4,336 shares withheld for taxes).
• Tax withholding: 4,336 shares withheld at $33.18 each for a total of $143,868.
• Notable footnotes: F5 indicates 12,398 restricted stock units vested; F7 and F9 show new grants on March 20, 2026 (9,362 RSUs vesting in three annual installments starting 2027; 14,043 performance-based RSUs vesting on the third anniversary if conditions met). Several other footnotes describe prior multi-year RSU/phantom grants and vesting schedules.
• Shares owned after transaction: not specified in the provided filing details.

Context

• These transactions are largely vesting/settlement of restricted stock units and phantom stock (M/A codes) and the related withholding of shares to cover tax obligations (F). This is a routine executive compensation event rather than an open-market buy or sell. Phantom shares are typically cash-settled equivalents of stock; RSUs convert to shares upon vesting. Because part of the disposition was share withholding for taxes, it should not be read as a market-sale signal about the insider’s view of the company.