BABCOCK JOHN P 4
4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Jun 30, 2026
Research Summary
AI-generated summary of this filing
Peapack Gladstone (PGC) SEVP John Babcock Sells 5,000 Shares
What Happened
John P. Babcock, Senior Executive Vice President and President of Private Wealth Management at Peapack Gladstone Financial Corp (PGC), sold 5,000 shares in an open-market transaction on June 29, 2026. The shares were sold at $47.11 per share for gross proceeds of $235,532. This was a sale (not a purchase or option exercise), which is generally a routine disposition rather than an indication of company outlook.
Key Details
- Transaction date and price: June 29, 2026 — 5,000 shares sold at $47.11 per share.
- Total value: $235,532 (gross proceeds).
- Transaction type/method: Open-market sale (transaction code S).
- Filing date / timeliness: Report filed June 30, 2026 (timely filing).
- Shares owned after transaction: Not specified in the excerpt provided.
- Notable footnotes in the filing:
- F1 — Some holdings are held indirectly through a rabbi trust (non-qualified deferred comp).
- F2–F9 — Multiple outstanding restricted stock units (RSUs) and phantom stock awards with various grant dates and vesting schedules.
- F6–F7, F9 — Some RSUs/phantom shares vest only if performance conditions are met.
- F10 — Performance rights that convert to shares if PGC stock reaches specified prices.
Context
Sales by executives can be routine (to diversify, cover taxes, or for personal reasons) and don't by themselves indicate company performance. This filing also shows the insider has multiple unvested equity awards (RSUs, phantom shares, performance rights) with staggered and performance-based vesting, which can align his compensation with long-term company performance.
Insider Transaction Report
- Sale
Common Stock
2026-06-29$47.11/sh−5,000$235,532→ 45,582 total
- 74,876(indirect: By Trust)
Common Stock
[F1] - 6,720(indirect: By 401(k))
Common Stock
- 5,029
Restricted Stock Units
[F2]→ Common Stock (5,029 underlying) - 9,362
Restricted Stock Units
[F3]→ Common Stock (9,362 underlying) - 2,524
Restricted Stock Units
[F4]→ Common Stock (2,524 underlying) - 4,788
Restricted Stock Units
[F5]→ Common Stock (4,788 underlying) - 11,315
Restricted Stock Units
[F6]→ Common Stock (11,315 underlying) - 14,043
Restricted Stock Units
[F7]→ Common Stock (14,043 underlying) - 2,760
Phantom Stock
[F8]→ Common Stock (2,760 underlying) - 12,418
Phantom Stock
[F9]→ Common Stock (12,418 underlying) - 16,000
Phantom Rights
[F10]Exp: 2028-12-31→ Common Stock (16,000 underlying)
Footnotes (10)
- [F1]Held indirectly through a rabbi trust pursuant to a non-qualified deferred compensation plan.
- [F10]Each performance right represents a contingent right to receive one share of PGC common stock. The performance rights vest upon PGC's common stock achieving a specified price per share.
- [F2]On March 20, 2025, the reporting person was granted 7,543 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2026. Upon vesting, each RSU converts into one share of PGC common stock.
- [F3]On March 20, 2026, the reporting person was granted 9,362 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2027. Upon vesting, each RSU converts into one share of PGC common stock.
- [F4]On March 20, 2022, the reporting person was granted 12,588 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2023. Upon vesting, each RSU converts into one share of PGC common stock.
- [F5]On March 20, 2023, the reporting person was granted 11,970 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2024. Upon vesting, each RSU converts into one share of PGC common stock.
- [F6]On March 20, 2025, the reporting person was granted 11,315 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- [F7]On March 20, 2026, the reporting person was granted 14,043 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- [F8]On March 20, 2024, the reporting person was granted 8,278 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.
- [F9]On March 20, 2024, the reporting person was granted 12,418 phantom stock shares, vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each phantom share is the economic equivalent of one share of common stock.