BABCOCK JOHN P 4

What Happened

• John P. Babcock, Senior Executive Vice President and President of Private Wealth Management at Peapack Gladstone Financial Corp (PGC), was granted/acquired 16,000 derivative securities on February 11, 2026. The reported acquisition price is $0.00 (an award/grant), so there was no cash purchase. The filing classifies these as derivative awards rather than immediate common-stock purchases.

Key Details

• Transaction date: February 11, 2026; Filing date (Form 4): April 1, 2026 (appears to be late vs. the typical 2-business-day reporting window).
• Transaction type: A = Award/Grant of derivative securities; reported price: $0.00.
• Shares owned after transaction: Not specified in the provided excerpt.
• Notable footnotes:
  • F1: Holdings (or some awards) are held indirectly through a rabbi trust under a non‑qualified deferred compensation plan.
  • F10: Each performance right can convert to one share of PGC common stock if the company’s stock reaches a specified price (i.e., vesting is contingent on a share-price trigger).
  • Other footnotes list prior RSU and phantom-stock grants with various vesting schedules (grants from 2022–2026 with time- and performance-based vesting).
• Filing timeliness: The Form 4 was filed well after the transaction date, which is outside the normal prompt-reporting window and is noted here as late.

Context

• These awards are compensation/long‑term incentives (not open-market purchases or sales). Performance rights/phantom shares typically convert to actual shares only if vesting and/or price conditions are met; until then they are contingent and do not represent immediately tradeable stock.
• Grants held in a rabbi trust indicate deferred compensation treatment (economic interest may be restricted).
• Such grants are routine for executive compensation and do not by themselves indicate an insider buying or selling the company's stock. Late filing reduces transparency and may be of interest to investors tracking insider activity.