Form 4: Peapack Gladstone Financial Corp Director Steven A. Kass Reports Beneficial Ownership Changes

Director Steven A. Kass reports changes in beneficial ownership of Peapack Gladstone Financial Corp shares, including acquisitions of common stock and phantom stock.

Summary

• On March 20, 2024, Steven A. Kass, a director of Peapack Gladstone Financial Corp, reported changes in his beneficial ownership of the company's securities.
• The reported transactions include the acquisition of common stock through dividend reinvestment and the acquisition of phantom stock.
• Kass directly owns 3,577.9706 shares of common stock.
• He also indirectly owns 2,500 shares through a family partnership, 1,000 shares through his spouse, and 13,149 shares through a Rabbi Trust.
• Additionally, Kass acquired 3,678 shares of phantom stock, which are scheduled to vest on the first anniversary of the grant date.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Positives

• The acquisition of phantom stock could be seen as a positive sign, aligning the director's interests with the long-term performance of the company.

Future Outlook

The phantom stock is scheduled to vest on the first anniversary of the grant date, suggesting a future incentive for the director.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in the holdings of a key executive, which is relevant to investors monitoring insider activity.

Stakeholder Impact

• Shareholders may be interested in the changes in beneficial ownership as an indicator of management's confidence in the company.

Key Dates