Form 4: PFS CEO Labozetta's Latest Share Transactions

Provident Financial Services Inc. CEO Anthony J. Labozetta reported an increase in his direct beneficial ownership through performance-vesting awards and restricted stock grants.

Summary

• Anthony J. Labozetta, President and CEO of Provident Financial Services Inc. (PFS), reported several transactions related to his beneficial ownership.
• On March 3, 2026, 2,889 shares of Common Stock were disposed of at $21.42 per share for tax withholding purposes.
• On March 3, 2026, 8,387 shares of Common Stock were acquired due to the vesting of performance-vesting stock awards granted on March 3, 2023, based on meeting certain performance criteria.
• Another 2,873 shares of Common Stock were disposed of on March 3, 2026, at $21.42 per share for tax withholding.
• On March 3, 2026, 15,319 shares of Common Stock were granted as time-vesting restricted stock, which will vest at a rate of 33.3% per year until March 3, 2029.
• On March 4, 2026, 1,858 shares of Common Stock were disposed of at $21.55 per share for tax withholding.
• Following these transactions, Mr. Labozetta's direct beneficial ownership stands at 558,964 shares of Common Stock.
• Indirect beneficial ownership includes 0 shares by ESOP (due to transfer), 2,722 shares by 401(k), 3,904 shares by IRA, 5,482 shares by Spouse's IRA, and 4,594 shares by Son.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive filing. While there are dispositions for tax purposes, the net increase in direct beneficial ownership through performance-based vesting and new restricted stock grants indicates continued alignment of the CEO's interests with long-term company performance.

Positives

• Mr. Labozetta's direct beneficial ownership increased by a net of 18,956 shares (8,387 + 15,319 2,889 2,873 1,858) following the reported transactions.
• The vesting of 8,387 performance-vesting stock awards indicates that the company met specific performance criteria, reflecting positively on past operational achievements.
• The grant of 15,319 shares of time-vesting restricted stock aligns management's interests with long-term shareholder value creation.

Negatives

• A total of 7,620 shares (2,889 + 2,873 + 1,858) were disposed of to cover tax obligations related to the vesting and grant of equity awards, which is a common practice but reduces direct share count.

Future Outlook

The time-vesting restricted stock granted on March 3, 2026, will vest at a rate of 33.3% per year, with the final vesting occurring on March 3, 2029.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to equity compensation plans, are common and provide insight into management's alignment with shareholder interests. The increase in direct beneficial ownership for a CEO, even with tax-related sales, generally signals confidence in the company's future performance.

Stakeholder Impact

• Shareholders: The increase in the CEO's direct beneficial ownership, particularly through performance-based awards, suggests management's continued commitment and alignment with shareholder value creation. This can be viewed positively as it ties executive incentives to company performance.

Next Steps

• Continued vesting of the 15,319 shares of time-vesting restricted stock at 33.3% per year until March 3, 2029.

Key Dates

Keywords

Provident Financial Services, PFS, Insider Transaction, Form 4, Stock Award, Restricted Stock, CEO, Equity Compensation, Beneficial Ownership