Form 4: Director Daingerfield's PGC Stock Holdings Update

PEAPACK GLADSTONE FINANCIAL CORP Director Richard Daingerfield reports RSU vesting and new grant, adjusting his beneficial ownership.

Summary

• Director Richard Daingerfield reported changes in his beneficial ownership of PEAPACK GLADSTONE FINANCIAL CORP (PGC) common stock.
• On March 20, 2026, 2,605 restricted stock units (RSUs) granted on March 20, 2025, vested and converted into 2,605 shares of PGC common stock.
• Concurrently, on March 20, 2026, Daingerfield was granted an additional 2,320 restricted stock units, which are scheduled to vest on March 20, 2027.
• Following these transactions, Daingerfield directly owns 20,425 shares of common stock and indirectly owns 5,113 shares through a Rabbi Trust.
• The indirect holdings include shares received through dividend reinvestment since the last filing.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting standard director compensation practices and continued alignment of the director's interests with shareholders through equity ownership.

Positives

• Director Richard Daingerfield received a new grant of 2,320 restricted stock units, indicating continued equity-based compensation and alignment with shareholder interests.
• The vesting of 2,605 RSUs into common stock increases the director's direct ownership in the company.

Future Outlook

The 2,320 restricted stock units granted on March 20, 2026, are scheduled to vest on March 20, 2027, converting into an equivalent number of PGC common shares.

Industry Context

StockSavvy.ai notes that equity grants to directors are a standard practice in the financial services industry, aligning management incentives with long-term shareholder value. This particular filing reflects routine compensation practices for a director at a regional bank.

Comparison to Industry Standards

• Equity compensation for directors, including restricted stock units, is a common practice across the financial sector, comparable to compensation structures seen at other regional banks and financial institutions.
• The vesting schedule of one year for RSUs is typical for director grants, similar to practices at companies like Provident Financial Services (PFS) or Lakeland Bancorp (LBAI).

Related Party Transactions

• Indirect beneficial ownership of 5,113 common shares is held through a Rabbi Trust pursuant to a non-qualified deferred compensation plan.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders through equity ownership.
• Employees: No direct impact on general employees.

Next Steps

• The 2,320 restricted stock units granted on March 20, 2026, are expected to vest on March 20, 2027.

Key Dates

Recommendation

This Form 4 details routine insider transactions related to director compensation (RSU vesting and new grants). It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transactions reflect standard compensation practices and maintain director alignment, supporting a 'hold' stance for existing investors.

Keywords

PGC, PEAPACK GLADSTONE FINANCIAL CORP, Richard Daingerfield, Form 4, insider trading, beneficial ownership, restricted stock units, RSU, stock grant, director compensation