Form 4: Peapack Gladstone Financial Corp: SEVP & CFO Frank Cavallaro Reports Changes in Beneficial Ownership

Frank A. Cavallaro, SEVP & CFO of Peapack Gladstone Financial Corp, reports changes in beneficial ownership of common stock and phantom stock units.

Summary

• On March 20, 2024, Frank A. Cavallaro reported changes in his beneficial ownership of Peapack Gladstone Financial Corp securities.
• He disposed of 597 shares of common stock at a price of $23.92.
• He acquired 4,389 phantom stock units, each equivalent to one share of common stock.
• These phantom stock units vest in three approximately equal installments on the anniversaries of the grant date.
• He also acquired 6,584 phantom stock units subject to certain performance conditions, which will cliff vest after three years if the conditions are met.
• Cavallaro also owns 3,230 restricted stock units that vest and settle in stock in three approximately equal installments on the anniversaries of the grant date.
• Following the reported transactions, Cavallaro beneficially owns 6,855 shares of common stock, 4,389 phantom stock units, 6,584 performance-based phantom stock units, and 3,230 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Future Outlook

The phantom stock and restricted stock units are subject to vesting schedules, indicating future potential ownership of common stock.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company executive, which is common in the financial industry.

Stakeholder Impact

• Shareholders are informed about changes in insider ownership, which can influence investor sentiment.

Key Dates