Form 4: Director Horst's PGC Stock Holdings Update

Peapack Gladstone Financial Director Peter D. Horst reports new RSU grants and conversion of previous awards, updating his beneficial ownership.

Summary

• Director Peter D. Horst reported changes in his beneficial ownership of Peapack Gladstone Financial Corp (PGC) common stock and restricted stock units (RSUs).
• On March 20, 2026, 1,675 restricted stock units granted on March 20, 2025, vested and converted into 1,675 shares of PGC common stock.
• Concurrently, on March 20, 2026, Mr. Horst was granted an additional 1,491 restricted stock units, which are scheduled to vest on March 20, 2027.
• Following these transactions, Mr. Horst directly owns 12,070 shares of PGC common stock.
• He also indirectly holds 4,733 shares of PGC common stock through a Rabbi Trust, which includes shares received via dividend reinvestment.
• Mr. Horst beneficially owns 1,491 restricted stock units as derivative securities.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive routine filing, indicating continued alignment of a director's interests with the company's performance through equity compensation, which is generally favorable for corporate governance.

Positives

• The grant of 1,491 restricted stock units to Director Peter D. Horst aligns his interests with long-term shareholder value.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

StockSavvy.ai notes that equity compensation for directors, such as restricted stock unit grants, is a standard practice in the financial services industry. This practice is designed to align the incentives of company leadership with the long-term interests of shareholders, promoting sustained performance and value creation.

Comparison to Industry Standards

• Equity compensation, including restricted stock units, is a common practice across publicly traded companies, particularly within the financial sector. Major institutions like JPMorgan Chase, Bank of America, and Wells Fargo routinely grant equity awards to their executives and directors to incentivize long-term performance and retention.
• The specific grant size for a director at a regional bank like Peapack Gladstone Financial Corp is generally commensurate with similar roles in the sector, reflecting standard corporate governance practices for aligning director interests with shareholder returns.

Stakeholder Impact

• Shareholders: Increased alignment of Director Peter D. Horst's interests with shareholder value through his equity ownership and future vesting awards.

Next Steps

• Vesting of 1,491 restricted stock units on March 20, 2027, which will convert into PGC common stock.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to equity compensation for a director. It does not provide new fundamental information about the company's financial performance, strategic direction, or any material events that would warrant a change in investment recommendation. The transactions reflect standard practice for aligning director incentives with shareholder interests, thus a 'hold' recommendation is appropriate as no new actionable information for a buy or sell decision is presented.

Keywords

PGC, Peapack Gladstone, Form 4, Insider Trading, Restricted Stock Units, Director, Equity Compensation, Stock Ownership