Form 4: Provident Financial Services Executive Chairman Sells Shares
SEC Form 4 Filing
Christopher P. Martin, Executive Chairman of Provident Financial Services, sold 18,153 shares of common stock at a price of $20.619 per share on November 20, 2024.
Summary
- Christopher P. Martin, the Executive Chairman of Provident Financial Services Inc., reported a sale of 18,153 shares of common stock on November 20, 2024, at a price of $20.619 per share.
- Following this transaction, Mr. Martin directly owns 619,741 shares of common stock.
- He also indirectly owns 24,661 shares through an ESOP and 198,690 shares through a 401(k) plan.
- The filing also details Mr. Martin's holdings of various stock options with different exercise prices and expiration dates, all of which are fully vested except for one grant that vests at a rate of 33.3% per year.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock sale by an executive. It is neutral in sentiment as it is a factual report of a transaction.
Industry Context
This is a routine Form 4 filing, which is common for corporate insiders who trade their company's stock. It provides transparency into the transactions of key personnel.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider trading.
- The sale of shares by an executive is not unusual, but the market may react to the transaction depending on the size of the sale and the overall market sentiment.
Stakeholder Impact
- The sale of shares by an executive may have a minor impact on shareholder sentiment, but it is a common occurrence.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/19/2016 | Stock options granted with an exercise price of $18.34, expiring on 02/19/2025. |
| 02/24/2017 | Stock options granted with an exercise price of $18.7, expiring on 02/24/2026. |
| 03/07/2018 | Stock options granted with an exercise price of $26.31, expiring on 03/07/2027. |
| 03/05/2019 | Stock options granted with an exercise price of $25.58, expiring on 03/05/2028. |
| 03/04/2020 | Stock options granted with an exercise price of $27.25, expiring on 03/04/2029. |
| 03/03/2021 | Stock options granted with an exercise price of $20.62, expiring on 03/03/2030. |
| 03/03/2022 | Stock options granted with an exercise price of $20.66, expiring on 03/03/2031. |
| 03/02/2023 | Stock options granted with an exercise price of $23.7, expiring on 03/02/2032. |
| 11/20/2024 | Date of the reported sale of 18,153 shares of common stock. |
| 11/22/2024 | Date of the filing of the Form 4. |
Keywords
Provident Financial Services, Christopher P. Martin, stock sale, executive chairman, Form 4, insider trading, stock options, ESOP, 401k
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