Form 4: Provident Financial Services Inc. Executive Receives Stock Grant

Thomas M. Lyons, SEVP and CFO of Provident Financial Services Inc., acquired 4,806 shares of common stock through a restricted stock grant that vests over three years.

Summary

• On March 3, 2025, Thomas M. Lyons, the SEVP and CFO of Provident Financial Services Inc., acquired 4,806 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, Lyons directly owns 221,290 shares of common stock.
• Lyons also indirectly owns 59,166 shares through a 401(k), 22,550 shares through an ESOP, and 6,798 shares through an IRA.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The stock grant is a standard practice and indicates confidence in the executive and the company's future. There are no immediate negative implications.

Positives

• The grant of restricted stock aligns the executive's interests with those of the shareholders, incentivizing long-term performance.
• The vesting schedule encourages continued service and commitment from the CFO.

Future Outlook

The vesting schedule indicates a commitment to the company for the next three years.

Industry Context

Stock grants are a common form of executive compensation in the financial services industry, used to attract and retain talent and align management's interests with shareholder value.

Comparison to Industry Standards

• Comparing the size of the stock grant to similar grants at peer institutions like New York Community Bancorp or Valley National Bancorp would provide context on whether the grant is standard, above, or below average.
• Analyzing the vesting schedule against industry norms, such as immediate vesting, graded vesting, or cliff vesting, would offer insights into the grant's structure.
• Benchmarking the total equity compensation of the CFO against peers would provide a comprehensive view of the executive's overall compensation package.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns management's interests with long-term value creation.
• Employees may see the grant as a sign of the company's commitment to its leadership.

Key Dates