Form 4: Provident Financial Director Receives Stock Grant

Director Edward J. Leppert acquired 4,012 shares of Provident Financial Services, Inc. common stock via a restricted stock grant.

Summary

• Director Edward J. Leppert was granted 4,012 shares of common stock on May 26, 2026.
• The shares were granted at a price of $0, representing a restricted stock award.
• Following this transaction, the director's direct beneficial ownership increased to 87,649 shares.
• The director maintains additional indirect holdings through 401(k) and IRA accounts.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine regulatory disclosure regarding director compensation, which is neutral in terms of immediate market impact.

Positives

• Alignment of director interests with shareholders through equity-based compensation.
• Increase in direct beneficial ownership by the reporting person.

Negatives

• None identified in this filing.

Risks

• Vesting of restricted stock is subject to time-based conditions, specifically the earlier of the one-year anniversary or the next annual meeting.

Future Outlook

The restricted stock grant will vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders, provided it is at least 50 weeks after the previous annual meeting.

Industry Context

StockSavvy.ai notes that equity grants to directors are standard corporate governance practices in the banking sector, designed to align board incentives with long-term shareholder value creation.

Comparison to Industry Standards

• The use of restricted stock units for director compensation is consistent with standard practices among regional financial institutions.
• The vesting schedule aligns with typical one-year cycles observed in the banking industry.

Stakeholder Impact

• Shareholders benefit from increased director alignment with company performance.

Next Steps

• Vesting of the 4,012 restricted shares upon the earlier of the one-year anniversary or the next annual meeting.

Key Dates

Keywords

Provident Financial Services, PFS, Form 4, Insider Trading, Director Compensation, Equity Grant