Horst Peter D. 4

What Happened

• Horst Peter, a director of Peapack Gladstone Financial Corp (PGC), had 1,675 restricted stock units (RSUs) vest and convert into shares on March 20, 2026 (reported as a derivative exercise/conversion). The filing also shows a simultaneous disposition of those 1,675 derivative shares. No per-share price or cash value is disclosed in the filing excerpt. On the same date he received a new grant of 1,491 RSUs that vest one year from the grant date.

Key Details

• Transaction date: March 20, 2026.
• Reported actions/codes: M (exercise/conversion of derivative) — 1,675 RSUs converted; M (disposition of derivative) — 1,675 disposed; A (award/grant) — 1,491 RSUs granted.
• Price/value: Not disclosed in the filing excerpt (listed as N/A).
• Shares owned after transaction: Not specified in the provided excerpt.
• Notable footnotes:
  • F1: The 1,675 RSUs were originally granted on March 20, 2025 and vested one year later; each RSU converts into one share on vesting.
  • F4: The 1,491 RSUs were granted on March 20, 2026 and vest on the one-year anniversary.
  • F2/F3: Filing notes include shares from dividend reinvestment and holdings indirectly held through a rabbi trust (non‑qualified deferred compensation plan).
• Timeliness: Filing dated March 23, 2026 for a March 20, 2026 transaction — filed within the normal Form 4 reporting window (not marked late).

Context

• RSU conversion: When RSUs vest they convert into common shares (derivative-to-stock conversion). The filing shows both the conversion and a same-day disposition of the converted derivative shares; the excerpt does not specify the method of disposition (e.g., sale, tax withholding), nor a cash value. Such routine conversions and subsequent dispositions (including withholding for taxes) are common in compensation-related filings and do not, by themselves, indicate insider market sentiment.