Form 4: Provident Financial Services Executive Acquires Shares of Restricted Stock

Timothy J. Matteson, EVP and Chief Admin Officer of Provident Financial Services, acquired 2,567 shares of restricted stock on March 3, 2025.

Summary

• On March 3, 2025, Timothy J. Matteson, the EVP and Chief Admin Officer of Provident Financial Services Inc. (PFS), acquired 2,567 shares of common stock.
• These shares were granted as time-vesting restricted stock.
• The shares vest at a rate of 33.3% per year, with the vesting period ending on March 3, 2028.
• Following the transaction, Matteson directly owns 113,750 shares of Provident Financial Services Inc.

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting a transaction. The acquisition of shares by an executive could be interpreted as a mildly positive signal, suggesting confidence in the company's prospects.

Positives

• The acquisition of restricted stock by a high-ranking executive could be seen as a positive sign, indicating confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of restricted stock is a common form of executive compensation.

Stakeholder Impact

• Shareholders may view the executive's stock acquisition as a positive sign of alignment with their interests.
• Employees may see it as a sign of confidence in the company's future.

Key Dates