Form 4: Director Gramigna Boosts PGC Holdings with RSU Vesting

PEAPACK GLADSTONE Director Edward Gramigna Jr. reported an increase in his beneficial ownership of common stock and new RSU grants.

Summary

• Director Edward A. Gramigna Jr. reported changes in his beneficial ownership of PEAPACK GLADSTONE FINANCIAL CORP (PGC) common stock and Restricted Stock Units (RSUs).
• As of March 20, 2026, Gramigna directly owns 8,349.2302 shares of common stock, which includes shares acquired through dividend reinvestment.
• He indirectly holds 20,401 shares of common stock through a rabbi trust as part of a non-qualified deferred compensation plan.
• On March 20, 2026, 2,419 Restricted Stock Units (RSUs) granted on March 20, 2025, vested, converting into 2,419 shares of PGC common stock.
• Concurrently, on March 20, 2026, Gramigna was granted an additional 2,154 Restricted Stock Units (RSUs), which are scheduled to vest on March 20, 2027.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as moderately positive, as it indicates continued director engagement and an increase in beneficial ownership, aligning insider interests with company performance.

Positives

• Director Edward A. Gramigna Jr. received a new grant of 2,154 Restricted Stock Units (RSUs) on March 20, 2026, demonstrating continued equity-based compensation and alignment with shareholder interests.
• The vesting of 2,419 RSUs on March 20, 2026, increased the director's direct common stock ownership, indicating a growing stake in the company.
• Beneficial ownership includes shares acquired through dividend reinvestment, suggesting a long-term holding strategy.

Future Outlook

The 2,154 Restricted Stock Units granted on March 20, 2026, are scheduled to vest on March 20, 2027, at which point they will convert into an equal number of PGC common stock 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.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a common practice across the financial services sector, comparable to compensation structures seen at regional banks and financial institutions of similar size to PEAPACK GLADSTONE FINANCIAL CORP.

Related Party Transactions

• Indirect beneficial ownership of 20,401 common stock shares is held through a rabbi trust, part of a non-qualified deferred compensation plan for the reporting person.

Stakeholder Impact

• Shareholders: Increased director ownership can signal confidence, potentially positively influencing investor sentiment.
• Employees: The equity compensation structure for directors may reflect broader compensation strategies within the company.

Next Steps

• The 2,154 Restricted Stock Units granted on March 20, 2026, are expected to vest on March 20, 2027, converting into PGC common stock.

Key Dates

Recommendation

The director's increased beneficial ownership and continued receipt of equity grants suggest ongoing confidence in the company's future. However, this filing primarily reports routine compensation and ownership changes rather than new strategic developments or financial performance, thus a 'hold' recommendation is appropriate for existing investors, while new investors should seek broader financial analysis.

Keywords

PGC, PEAPACK GLADSTONE FINANCIAL CORP, Form 4, insider transaction, director ownership, restricted stock units, RSU, common stock, beneficial ownership