Form 4: Provident Financial Executive Thomas Shara Receives Grant

Executive Vice Chairman Thomas Shara acquired 4,012 shares of Provident Financial Services common stock via a restricted stock grant.

Summary

• Thomas Shara, Executive Vice Chairman of Provident Financial Services (PFS), was granted 4,012 shares of common stock.
• The transaction occurred on May 26, 2026.
• Following this grant, Shara's direct beneficial ownership increased to 91,653 shares.
• Shara maintains an additional indirect interest of 439,077 shares held by a family trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine regulatory disclosure regarding executive compensation that does not signal a change in company strategy or financial health.

Positives

• Alignment of executive interests with shareholders through equity-based compensation.
• Increased direct equity stake held by a key member of the executive leadership team.

Negatives

• None identified; this is a standard equity compensation disclosure.

Risks

• None identified; this is a routine disclosure of executive compensation.

Future Outlook

The restricted stock grant vests on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders occurring at least 50 weeks after the previous year's annual meeting.

Industry Context

StockSavvy.ai notes that equity grants to senior executives are standard practice in the banking sector to ensure long-term retention and alignment with shareholder value creation.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) or restricted stock grants is a common compensation structure among regional banks like Provident Financial Services.
• The vesting schedule aligns with standard corporate governance practices for executive compensation in the U.S. financial sector.

Related Party Transactions

• The reporting person holds 439,077 shares indirectly through a family trust where his wife serves as trustee.

Stakeholder Impact

• Shareholders may view the increased equity stake of the Executive Vice Chairman as a positive signal of management confidence.

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, Executive Compensation, Thomas Shara