Vakacherla Ravi 4

What Happened

• Ravi Vakacherla, Chief Information & Operations Officer (CIOO) of Provident Financial Services (PFS), received 8,803 shares as a performance-vesting stock award that vested on 2026-05-20 (acquired at $0.00). To satisfy tax withholding, 2,760 of those shares were disposed/withheld at $22.15 per share, generating proceeds of $61,134.

Key Details

• Transaction dates: 2026-05-20 (award vested and shares withheld for taxes); Form 4 filed 2026-05-21 (timely).
• Award: 8,803 shares granted/received (code A) at $0.00 (no cash purchase).
• Tax withholding: 2,760 shares disposed/withheld (code F) at $22.15 each; total value ≈ $61,134.
• Footnote: These were performance-vesting awards originally granted May 20, 2024 that vested after meeting specified performance criteria.
• Shares owned after the reported transactions: not specified in the provided excerpt.

Context

• This was a standard vesting of previously granted performance shares with a portion withheld to cover taxes — not an open-market sale indicating a change in investment conviction.
• Transaction codes: A = award/grant; F = payment of exercise price or tax liability (share withholding).