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PEAPACK GLADSTONE FINANCIAL CORP·4

Mar 24, 4:20 PM ET

KENNEDY DOUGLAS L 4

4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Mar 24, 2026

Research Summary

AI-generated summary of this filing

Updated

Peapack Gladstone CEO Douglas Kennedy Exercises RSUs, Withholds Shares

What Happened
Douglas L. Kennedy, President & CEO of Peapack Gladstone Financial Corp. (PGC), had multiple derivative awards convert or vest on March 20, 2026 and received new RSU grants the same day. An aggregate of 3,781 shares were withheld/disposed to cover tax withholding at $33.18 per share (1,993 shares = $66,128 and 1,788 shares = $59,326; total ≈ $125,454). The filing also shows vested/converted units (including 18,097 restricted stock units that vested per footnote F6) and new awards granted: 16,150 RSUs (F7) and 24,225 RSUs (F9), both subject to future vesting/performance schedules.

Key Details

  • Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (timely within required reporting window).
  • Tax withholding: 1,993 shares withheld for $66,128 and 1,788 shares withheld for $59,326 (share price shown $33.18). Total cash value ≈ $125,454. (Code F = tax withholding.)
  • Conversions/exercises: Multiple "M" transactions reflect exercise/conversion of derivative awards (vested RSUs/phantom stock). Footnote F6 confirms 18,097 RSUs vested.
  • Awards granted: 16,150 RSUs (vesting beginning Mar 20, 2027 in installments; F7) and 24,225 RSUs (performance-based vesting on the 3rd anniversary; F9).
  • Post-transaction shareholdings: total shares owned after these events are not provided in the summary data shown.
  • No open-market sale or purchase reported — transactions are primarily vesting/conversion and tax withholding, not voluntary market trades.

Context

  • Code legend: M = exercise or conversion of derivative (typically vesting of RSUs/phantom units); F = shares withheld to satisfy tax withholding; A = grant/award. These conversions are commonly routine vesting or settlement events rather than an insider selecting to sell shares on the open market.
  • New RSU grants are forward-looking compensation subject to future vesting and/or performance conditions and do not represent immediate ownership of free-trading shares.
  • Filing appears timely (filed within two business days of the Mar 20 transactions).

Insider Transaction Report

Form 4
Period: 2026-03-20
PEAPACK GLADSTONE FINANCIAL CORPPGC
KENNEDY DOUGLAS L
President & CEO
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-03-20+3,896→ 43,024.749 total
  • Tax Payment

    Common Stock

    [F2]
    2026-03-20$33.18/sh−1,993$66,128→ 41,031.749 total
  • Exercise/Conversion

    Common Stock

    [F3]
    2026-03-20+3,494→ 44,525.749 total
  • Tax Payment

    Common Stock

    [F2]
    2026-03-20$33.18/sh−1,788$59,326→ 42,737.749 total
  • Exercise/Conversion

    Common Stock

    [F4][F5]
    2026-03-20+3,674→ 212,533 total(indirect: By Trust)
  • Exercise/Conversion

    Common Stock

    [F6][F5]
    2026-03-20+18,097→ 230,630 total(indirect: By Trust)
  • Exercise/Conversion

    Restricted Stock Units

    [F1]
    2026-03-20−3,896→ 7,793 total
    → Common Stock (3,896 underlying)
  • Award

    Restricted Stock Units

    [F7]
    2026-03-20+16,150→ 16,150 total
    → Common Stock (16,150 underlying)
  • Exercise/Conversion

    Restricted Stock Units

    [F4]
    2026-03-20−3,674→ 3,678 total
    → Common Stock (3,674 underlying)
  • Exercise/Conversion

    Restricted Stock Units

    [F3]
    2026-03-20−3,494→ 6,990 total
    → Common Stock (3,494 underlying)
  • Exercise/Conversion

    Restricted Stock Units

    [F6]
    2026-03-20−18,097→ 0 total
    → Common Stock (18,097 underlying)
  • Award

    Restricted Stock Units

    [F9]
    2026-03-20+24,225→ 24,225 total
    → Common Stock (24,225 underlying)
  • Exercise/Conversion

    Phantom Stock

    [F10]
    2026-03-20−3,440→ 3,441 total
    → Common Stock (3,440 underlying)
  • Exercise/Conversion

    Phantom Stock

    [F11]
    2026-03-20+2,828→ 0 total
    → Common Stock (2,828 underlying)
Holdings

  • Common Stock

    (indirect: By 401(k))
    18,621

  • Common Stock

    (indirect: Employee Stock Purchase Plan)
    10,893.341

  • Restricted Stock Units

    [F8]
    → Common Stock (17,534 underlying)
    17,534

  • Phantom Stock

    [F12]
    → Common Stock
    15,482
Footnotes (12)
  • [F1]On March 20, 2025, the reporting person was granted 11,689 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.
  • [F10]On March 20, 2024, the reporting person was granted 10,321 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.
  • [F11]On March 20, 2021, the reporting person was granted 14,127 phantom stock shares, vesting in five equal annual installments beginning on March 20, 2022. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
  • [F12]On March 20, 2024, the reporting person was granted 15,482 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.
  • [F2]Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units.
  • [F3]On March 20, 2023, the reporting person was granted 17,472 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.
  • [F4]On March 20, 2022, the reporting person was granted 18,374 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.
  • [F5]Held indirectly through a rabbi trust pursuant to a non-qualified deferred compensation plan.
  • [F6]On March 20, 2023, the reporting person was granted 26,208 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. 18,097 restricted stock units vested.
  • [F7]On March 20, 2026, the reporting person was granted 16,150 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.
  • [F8]On March 20, 2025, the reporting person was granted 17,534 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.
  • [F9]On March 20, 2026, the reporting person was granted 24,225 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.
Signature
Douglas L. Kennedy|2026-03-24

Documents

1 file
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    ownership.xmlPrimary

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