Giannola Vito 4
Research Summary
AI-generated summary
Provident Financial (PFS) EVP Vito Giannola Receives Award; Shares Withheld
What Happened
- Vito Giannola, EVP & Chief Risk and Banking Officer of Provident Financial Services, received a performance-based stock award of 4,520 shares on 2026-05-20 (reported 2026-05-21). As part of the vesting/settlement, 1,626 shares were withheld/disposed to satisfy a tax liability or exercise price at $22.15 per share, totaling $36,016.
- The award shares were recorded as acquired at $0.00 (ordinary grant value); the withholding reduced the net shares delivered to Giannola.
Key Details
- Transaction date: 2026-05-20; filing date: 2026-05-21 (filed the next day; no late filing indicated).
- Award: 4,520 shares (code A — grant/acquisition) reported at $0.00 per share.
- Withholding/disposition: 1,626 shares (code F — tax withholding/payment) at $22.15 per share = $36,016.
- Shares owned after the transaction: not disclosed in the provided filing.
- Footnote: The shares granted were performance-vesting awards originally granted on May 20, 2024 that vested upon meeting specified performance criteria (see footnote F1).
Context
- This was a performance-based award vesting event, not an open-market purchase or sale signaling a directional bet. The F-code withholding is a common administrative step where the company retains/sells a portion of vested shares to cover taxes or exercise-related obligations, reducing the net shares the insider receives.