Form 4: Director Bowser's RSU Conversion & New Grant

PEAPACK GLADSTONE FINANCIAL CORP director Carmen M Bowser converted 1,675 restricted stock units into common stock and received a new grant of 1,491 restricted stock units.

Summary

• Director Carmen M Bowser converted 1,675 restricted stock units (RSUs) into common stock on March 20, 2026.
• This conversion resulted from RSUs granted on March 20, 2025, which vested on their one-year anniversary.
• Following this, Bowser's indirect beneficial ownership of common stock through a Rabbi Trust increased to 10,368.02 shares.
• On the same date, March 20, 2026, Bowser was granted an additional 1,491 restricted stock units.
• These newly granted RSUs will vest on their one-year anniversary, March 20, 2027, converting into one share of PGC common stock each.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, reflecting routine insider equity activity that aligns director interests with shareholders, without indicating any significant operational or financial shifts.

Positives

• Director Carmen M Bowser's continued equity participation aligns her interests with shareholders.
• The grant of 1,491 new restricted stock units demonstrates ongoing compensation and retention of key leadership.

Future Outlook

The 1,491 restricted stock units granted on March 20, 2026, are expected to vest on their one-year anniversary, March 20, 2027, converting into common stock.

Industry Context

StockSavvy.ai notes that equity grants, such as Restricted Stock Units, are a standard component of executive and director compensation packages across the financial services industry. These grants are designed to align the interests of insiders with long-term shareholder value creation by tying a portion of their compensation to the company's stock performance.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) for director compensation is a common practice, comparable to compensation structures at regional banks and financial institutions like Provident Financial Services (PFS) or Lakeland Bancorp (LBAI), which also utilize equity awards to incentivize long-term commitment and performance.
• The vesting schedule of one year for these RSU grants is typical for director awards, aiming to retain talent and encourage sustained engagement with corporate governance.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders through equity ownership.

Next Steps

• The 1,491 restricted stock units granted on March 20, 2026, are scheduled to vest on March 20, 2027.

Key Dates

Recommendation

This Form 4 filing details routine insider equity compensation, specifically the vesting and conversion of previously granted restricted stock units (RSUs) and the grant of new RSUs to a director. Such transactions are standard practice for aligning management and director interests with shareholders and do not typically signal a change in the company's fundamental outlook or operational performance. Therefore, it provides no new information that would warrant a change in an existing investment thesis, leading to a 'hold' recommendation.

Keywords

PEAPACK GLADSTONE FINANCIAL CORP, PGC, Form 4, Insider Trading, Restricted Stock Units, RSU, Director Compensation, Equity Grant, Beneficial Ownership