Form 4: Provident Financial CEO Anthony Labozzeta Stock Vesting
Statement of Changes in Beneficial Ownership
CEO Anthony Labozzeta acquired 30,410 shares of Provident Financial Services via performance-vesting awards.
Summary
- President and CEO Anthony J. Labozzeta acquired 30,410 shares of common stock on May 20, 2026, following the vesting of performance-based awards.
- A total of 10,416 shares were withheld by the company to satisfy tax obligations at a price of $22.15 per share.
- Following these transactions, the CEO's direct beneficial ownership in Provident Financial Services stands at 578,958 shares.
- The reporting person maintains additional indirect holdings through a 401(k), IRA, spouse's IRA, and son's account.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine regulatory disclosure regarding executive compensation and does not signal a change in company strategy or financial health.
Positives
- The CEO successfully met performance criteria required for the vesting of 30,410 stock awards.
- The transaction reflects alignment between executive compensation and company performance metrics.
Negatives
- The company withheld 10,416 shares from the CEO to cover tax liabilities associated with the vesting event.
Risks
- None identified in this specific Form 4 filing.
Future Outlook
No forward-looking guidance provided in this filing.
Industry Context
StockSavvy.ai notes that this filing is a routine disclosure of executive equity compensation. It reflects standard corporate governance practices where performance-based equity grants vest upon the achievement of pre-defined financial or operational targets, common in the regional banking sector.
Comparison to Industry Standards
- The use of performance-vesting stock awards is consistent with standard executive compensation packages at regional banks like Provident Financial Services.
- Tax withholding upon vesting is a standard administrative procedure for equity-based compensation.
Stakeholder Impact
- Shareholders should note the change in the CEO's direct equity position, though the net change is a result of standard compensation vesting.
Next Steps
- No future actions or milestones were disclosed in this filing.
Key Dates
| Date | Description |
|---|---|
| 05/20/2026 | Date of the earliest transaction involving stock vesting and tax withholding. |
| 05/22/2026 | Date the Form 4 was signed and filed with the SEC. |
Keywords
Provident Financial Services, PFS, Insider Trading, Form 4, Executive Compensation, Stock Vesting
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