Form 4: Provident Financial Services Inc: Executive Chairman Christopher Martin Reports Stock Transactions
SEC Form 4
Christopher Martin, Executive Chairman of Provident Financial Services Inc, reports acquisition and disposal of common stock, along with holdings in deferred fee, 401(k), and ESOP plans, and stock option holdings.
Summary
- On March 3, 2024, Christopher Martin, the Executive Chairman of Provident Financial Services Inc, reported transactions involving the company's common stock.
- Martin acquired 42,477 shares of common stock at $0, and disposed of 17,785 shares through a deferred fee plan.
- He also holds shares indirectly through a 401(k) plan (193,022 shares) and an ESOP (22,904 shares).
- Martin also holds various stock options with different exercise prices and expiration dates, totaling 473,162 shares.
- Some stock options vest at a rate of 33.3% per year, while others are fully vested.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions without indicating positive or negative performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with shareholder interests.
Stakeholder Impact
- The reported transactions may influence investor perception of the company's stock.
- The vesting and exercising of stock options can impact the company's share dilution.
Key Dates
| Date | Description |
|---|---|
| 02/19/2016 | Date of stock options grant with an exercise price of $18.34 and expiration date of 02/19/2025 |
| 02/24/2017 | Date of stock options grant with an exercise price of $18.7 and expiration date of 02/24/2026 |
| 03/07/2018 | Date of stock options grant with an exercise price of $26.31 and expiration date of 03/07/2027 |
| 03/05/2019 | Date of stock options grant with an exercise price of $25.58 and expiration date of 03/05/2028 |
| 03/04/2020 | Date of stock options grant with an exercise price of $27.25 and expiration date of 03/04/2029 |
| 03/03/2021 | Date of stock options grant with an exercise price of $20.62 and expiration date of 03/03/2030 |
| 03/03/2021 | Performance-vesting stock awards granted which vested based on meeting certain performance criteria. |
| 03/03/2022 | Date of stock options grant with an exercise price of $20.66 and expiration date of 03/03/2031 |
| 03/02/2023 | Date of stock options grant with an exercise price of $23.7 and expiration date of 03/02/2025 |
| 03/03/2024 | Date of reported transactions: acquisition of 42,477 shares and disposal of 17,785 shares. |
| 03/05/2024 | Signature date of the report. |
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