Form 4: Peapack Gladstone Financial Corp Director Steven A. Kass Reports Acquisition of Restricted Stock Units

Director Steven A. Kass reports acquisition of restricted stock units and changes in beneficial ownership of Peapack Gladstone Financial Corp stock.

Summary

• On March 20, 2025, Steven A. Kass, a director of Peapack Gladstone Financial Corp, reported changes in his beneficial ownership of the company's stock.
• Kass acquired 2,978 restricted stock units, each representing a contingent right to receive one share of common stock, which vest and settle in stock on the first anniversary of the grant date.
• The report also indicates that Kass directly owns 3,595.7882 shares of common stock, which includes shares received through dividend reinvestment since the last filing.
• Additionally, Kass indirectly owns 2,500 shares through a family partnership, 1,000 shares through his spouse, and 13,149 shares through a Rabbi Trust pursuant to a non-qualified deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Future Outlook

The restricted stock units vest and settle in stock on the first anniversary of the grant date, indicating a future increase in the director's direct shareholding.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their potential impact on stock prices.

Stakeholder Impact

• The acquisition of restricted stock units by a director could be viewed positively by shareholders, aligning management's interests with theirs.
• The filing provides transparency to stakeholders regarding insider transactions.

Key Dates

Keywords

beneficial ownership, restricted stock units, Form 4, Peapack Gladstone Financial Corp, Steven A. Kass, director, PGC, stock