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PEAPACK GLADSTONE FINANCIAL CORP·4

Apr 1, 3:19 PM ET

KENNEDY DOUGLAS L 4

4 · PEAPACK GLADSTONE FINANCIAL CORP · Filed Apr 1, 2026

Research Summary

AI-generated summary of this filing

Updated

Peapack Gladstone CEO Douglas Kennedy Buys Shares & Receives Award

What Happened
Douglas L. Kennedy, President & CEO of Peapack Gladstone Financial Corp (PGC), reported two transactions: an open‑market purchase of 11,296 common shares on 2026-03-30 at $35.21 each for a total of $397,732, and a grant on 2026-02-11 of 50,000 performance rights (derivative award) recorded at $0.00. The purchase is a cash outlay (a straightforward buy), while the 50,000 performance rights are contingent awards that would convert to common shares only if specified stock‑price performance conditions are met.

Key Details

  • Purchase: 11,296 shares on 2026-03-30 at $35.21/share — total reported cost $397,732. (Transaction code P)
  • Award: 50,000 performance rights on 2026-02-11, reported as $0.00 (derivative) — each right can convert to one PGC share if price targets are achieved. (Transaction code A; footnote F10)
  • The filing was submitted 2026-04-01. The Feb. 11 grant appears to have been reported late relative to the grant date; the purchase was reported on the same Form.
  • The filing notes the purchased shares are held indirectly through a rabbi trust under a non‑qualified deferred compensation plan (footnote F1).
  • The report lists multiple outstanding RSU and phantom‑share awards (grants from 2022–2026) with varying vesting schedules and performance conditions — see footnotes F2–F9 for counts and vesting terms.
  • Shares owned after these transactions are not specified in the details provided in this summary.

Context

  • Performance rights are derivative awards: they do not equate to immediate share ownership and only convert to shares if the company meets the specified stock‑price criteria (per F10).
  • The open‑market purchase is a direct buy by the CEO and is often considered more informative than grants, since it reflects a personal cash purchase; however, filings do not disclose motivation.
  • Multiple outstanding RSU and phantom awards listed in the filing reflect typical executive compensation structures (time‑based and performance‑based vesting).

Insider Transaction Report

Form 4
Period: 2026-02-11
PEAPACK GLADSTONE FINANCIAL CORPPGC
KENNEDY DOUGLAS L
President & CEO
Transactions
  • Purchase

    Common Stock

    [F1]
    2026-03-30$35.21/sh+11,296$397,732→ 241,925.774 total(indirect: By Trust)
  • Award

    Performance Rights

    [F10]
    2026-02-11+50,000→ 50,000 total
    Exp: 2028-12-31→ Common Stock (50,000 underlying)
Holdings

  • Common Stock

    42,737.749

  • Common Stock

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

  • Common Stock

    (indirect: Employee Stock Purchase Plan)
    10,893.341

  • Restricted Stock Units

    [F2]
    → Common Stock (7,793 underlying)
    7,793

  • Restricted Stock Units

    [F3]
    → Common Stock (16,150 underlying)
    16,150

  • Restricted Stock Units

    [F4]
    → Common Stock (3,678 underlying)
    3,678

  • Restricted Stock Units

    [F5]
    → Common Stock (6,990 underlying)
    6,990

  • Restricted Stock Units

    [F6]
    → Common Stock (17,534 underlying)
    17,534

  • Restricted Stock Units

    [F7]
    → Common Stock (24,225 underlying)
    24,225

  • Phantom Stock

    [F8]
    → Common Stock (3,441 underlying)
    3,441

  • Phantom Stock

    [F9]
    → Common Stock (15,482 underlying)
    15,482
Footnotes (10)
  • [F1]Held indirectly through a rabbi trust pursuant to a non-qualified deferred compensation plan.
  • [F10]Each performance right represents a contingent right to receive one share of PGC common stock. The performance rights vest upon PGC's common stock achieving a specified price per share.
  • [F2]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.
  • [F3]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.
  • [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, 2023. Upon vesting, each RSU converts into one share of PGC common stock.
  • [F5]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.
  • [F6]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.
  • [F7]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.
  • [F8]On March 20, 2024, the reporting person was granted 3,441 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.
  • [F9]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.
Signature
Douglas L. Kennedy|2026-04-01

Documents

1 file
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    ownership.xmlPrimary

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