Form 4: Peapack Gladstone Financial Corp Director Acquires Phantom Stock
SEC Form 4 Filing
Anthony W. Spinelli, a director of Peapack Gladstone Financial Corp, reports acquisition of phantom stock units.
Summary
- On March 20, 2024, Anthony W. Spinelli, a director of Peapack Gladstone Financial Corp, acquired 2,069 units of phantom stock.
- Each unit of phantom stock is economically equivalent to one share of common stock.
- The phantom stock is scheduled to vest on the first anniversary of the grant date.
- Following the transaction, Spinelli directly owns 2,069 derivative securities.
- Spinelli also directly owns 12,067 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider transactions, allowing investors to monitor the actions of company insiders.
Stakeholder Impact
- Shareholders may be interested in this filing as it provides insight into the actions of a company director.
Key Dates
| Date | Description |
|---|---|
| 03/20/2024 | Date of phantom stock acquisition |
| 03/21/2024 | Date of Form 4 signature |
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