Form 4: PFS Executive Acquires Shares, Adjusts Holdings

Adriano M. Duarte, EVP & CAO of Provident Bank, reported a series of transactions involving Provident Financial Services Inc. common stock, including the acquisition of performance-vesting awards.

Summary

• Adriano M. Duarte, Executive Vice President & Chief Administrative Officer of Provident Bank, engaged in several transactions concerning Provident Financial Services Inc. common stock on May 20, 2026.
• Duarte acquired 6,082 shares of common stock valued at $0, which were performance-vesting stock awards granted on May 20, 2024, vesting due to met performance criteria.
• He also disposed of 2,071 shares of common stock at a price of $22.15 per share.
• Following these transactions, Duarte's beneficial ownership includes 32,852 shares held directly, and additional shares held indirectly through a 401(k) (14,378 shares), an IRA (43,849.6 shares), and his wife's IRA (7,500 shares).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, reflecting routine insider transactions rather than significant company performance indicators or strategic shifts.

Positives

• Acquisition of 6,082 performance-vesting stock awards indicates achievement of company performance targets.
• Continued indirect beneficial ownership through retirement accounts (401(k), IRA) suggests long-term commitment to the company.

Negatives

• Disposal of 2,071 shares of common stock at $22.15 per share.

Future Outlook

No specific forward-looking statements or guidance were provided in this Form 4 filing.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions and do not typically contain strategic updates. The acquisition of performance-vesting awards suggests internal confidence in meeting performance goals, while the disposal of shares could be for personal financial planning.

Stakeholder Impact

• Shareholders: The disposal of shares by an executive may be interpreted in various ways, but the acquisition of performance awards could be seen positively if performance targets are met.
• Employees: The vesting of performance awards indicates that internal performance metrics are being achieved, which could be a positive signal for employee morale.
• Management: The transactions reflect standard personal financial management by an executive.

Key Dates

Keywords

Form 4, SEC Filing, Provident Financial Services, PFS, Insider Trading, Stock Acquisition, Stock Disposal, Beneficial Ownership, Adriano M. Duarte, EVP & CAO, Performance Awards