Form 4: Peapack Gladstone Financial Corp President & CEO Sells $580,000 in Common Stock

Douglas L. Kennedy, President & CEO of Peapack Gladstone Financial Corp, sold 20,000 shares of common stock at $28.9071 per share on March 17, 2025, according to a Form 4 filing.

Summary

• Douglas L. Kennedy, the President & CEO of Peapack Gladstone Financial Corp (PGC), filed a Form 4 with the SEC.
• On March 17, 2025, Kennedy sold 20,000 shares of PGC common stock at a price of $28.9071 per share.
• Following the transaction, Kennedy directly owns 43,702.749 shares of common stock.
• Kennedy also indirectly owns shares through a Rabbi Trust (156,630 shares), a 401(k) plan (18,493 shares), and an Employee Stock Purchase Plan (10,077.4441 shares).
• The filing also details Kennedy's holdings in restricted stock units and phantom stock, which vest over time and are subject to certain conditions.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider stock sale. It doesn't inherently convey positive or negative sentiment, but the market may interpret the sale based on their own analysis.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors often monitor these filings to gauge management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• Shareholders may react to the insider sale, potentially impacting the stock price.
• The sale could be perceived as a lack of confidence by the CEO, or simply part of a pre-arranged trading plan.

Key Dates