PROVIDENT FINANCIAL SERVICES INC 8-K

What Happened
Provident Financial Services, Inc. (PFS) filed an 8‑K on January 27, 2026 announcing that its Board authorized a tenth stock repurchase program to begin once the current authorization is completed. The new and existing authorizations together allow the company to repurchase up to 2.15% of its common stock currently outstanding. The Company noted repurchases may be made in the open market, via negotiated or block trades, or under Rule 10b5‑1 trading plans, and the program has no set expiration date.

Key Details

• The prior repurchase authorization has 814,247 shares remaining available for buybacks.
• Combined with the new authorization, the company may repurchase up to 2.15% of shares currently outstanding.
• Repurchases may occur via open‑market purchases, unsolicited negotiated transactions, block trades, or Rule 10b5‑1 plans.
• The program is open‑ended (no expiration) and will follow SEC safe‑harbor rules and guidance.

Why It Matters
A board‑authorized repurchase program gives management flexibility to return capital to shareholders and can reduce shares outstanding over time, which may support reported earnings per share and provide demand for the stock. This filing does not commit PFS to an immediate schedule or dollar amount of purchases — it only authorizes the company to buy back up to the stated percentage and describes the methods it may use. Retail investors should note the program’s size (2.15% of shares) and that actual repurchase activity and timing will depend on market conditions and the Company’s discretion.