Peapack-Gladstone Financial (PGC) executive reports RSU grants and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Peapack-Gladstone Financial Corp executive John P. Babcock reported a series of equity compensation events on March 20, 2026. He exercised multiple vested restricted stock unit and phantom stock awards into common shares and had 4,336 common shares withheld at $33.18 per share to cover tax obligations.
Babcock also received new grants of 9,362 time-based restricted stock units and 14,043 performance-based restricted stock units that each convert into one share of common stock upon future vesting. After these transactions, he directly held 46,561 common shares and indirectly held additional shares through a rabbi trust and a 401(k) plan, along with unvested RSU and phantom stock awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
24,582 shares exercised/converted
Mixed
23 txns
Insider
BABCOCK JOHN P
Role
SEVP & Pres of Priv Wealth Mgt
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,514 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 9,362 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,516 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,394 | $0.00 | -- |
| Exercise | Restricted Stock Units | 12,398 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 14,043 | $0.00 | -- |
| Exercise | Phantom Stock | 2,760 | $0.00 | -- |
| Exercise | Phantom Stock | 2,000 | $0.00 | -- |
| Exercise | Common Stock | 1,760 | $0.00 | -- |
| Tax Withholding | Common Stock | 901 | $33.18 | $30K |
| Exercise | Common Stock | 1,258 | $0.00 | -- |
| Tax Withholding | Common Stock | 644 | $33.18 | $21K |
| Exercise | Common Stock | 1,197 | $0.00 | -- |
| Tax Withholding | Common Stock | 613 | $33.18 | $20K |
| Exercise | Common Stock | 6,199 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,178 | $33.18 | $72K |
| Exercise | Common Stock | 754 | $0.00 | -- |
| Exercise | Common Stock | 1,258 | $0.00 | -- |
| Exercise | Common Stock | 1,197 | $0.00 | -- |
| Exercise | Common Stock | 6,199 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Phantom Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 5,029 shares (Direct);
Phantom Stock — 2,760 shares (Direct);
Common Stock — 46,264 shares (Direct);
Common Stock — 66,222 shares (Indirect, Rabbi Trust)
Footnotes (1)
- On March 20, 2025, the reporting person was granted 7,543 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2026. Upon vesting, each RSU converts into one share of PGC common stock. Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units. On March 20, 2022, the reporting person was granted 12,588 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2023. Upon vesting, each RSU converts into one share of PGC common stock. On March 20, 2023, the reporting person was granted 11,970 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2024. Upon vesting, each RSU converts into one share of PGC common stock. On March 20, 2023, the reporting person was granted 17,955 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock. 12,398 restricted stock units vested. Held indirectly through a rabbi trust pursuant to a non-qualified deferred compensation plan. On March 20, 2026, the reporting person was granted 9,362 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2027. Upon vesting, each RSU converts into one share of PGC common stock. On March 20, 2025, the reporting person was granted 11,315 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock. On March 20, 2026, the reporting person was granted 14,043 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock. On March 20, 2024, the reporting person was granted 8,278 phantom stock shares, vesting in three equal annual installments beginning on March 20, 2025. Upon vesting, each phantom share is the economic equivalent of one share of common stock. On March 20, 2021, the reporting person was granted 9,992 phantom stock shares, vesting in five equal annual installments beginning on March 20, 2022. Upon vesting, each phantom share is the economic equivalent of one share of common stock. On March 20, 2024, the reporting person was granted 12,418 phantom stock shares, vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
FAQ
What did PGC executive John P. Babcock report in this Form 4?
John P. Babcock reported equity compensation activity, including RSU and phantom stock vesting into common shares, new RSU grants, and share withholding for taxes. These transactions reflect routine executive compensation rather than open-market buying or selling of Peapack-Gladstone Financial common stock.
How many new restricted stock units did John P. Babcock receive from PGC?
Babcock received 9,362 time-based RSUs and 14,043 performance-based RSUs. Each restricted stock unit converts into one share of Peapack-Gladstone Financial common stock if and when the applicable vesting or performance conditions disclosed in the footnotes are satisfied in future years.
What are the key vesting terms of Babcock’s new PGC RSU awards?
The 9,362 RSUs vest in three equal annual installments beginning March 20, 2027. The 14,043 performance-based RSUs vest on the third anniversary of the March 20, 2026 grant if specified performance conditions are met, then convert into common shares one-for-one.