PFS insider to sell 7,474 restricted shares via NYSE — Form 144 notice
Rhea-AI Filing Summary
Provident Financial Services, Inc. filed a Form 144 notice reporting a proposed sale of 7,474 common shares through Broadridge Corporate Issuer Solutions on the NYSE, with an aggregate market value of $141,183.86 and 79,968 shares outstanding. The securities were acquired as restricted stock awards on 03/02/2025 (6,106 shares), 03/03/2025 (509 shares) and 03/04/2025 (859 shares) as equity compensation. The approximate sale date is listed as 08/21/2025. The filer reports no sales in the past three months and includes the standard representation about absence of undisclosed material information.
Positive
- Complete disclosure of acquisition dates, quantities, broker, and aggregate value meeting Rule 144 requirements
- No sales in prior three months reported, indicating this is not part of a pattern of frequent disposals
Negative
- None.
Insights
TL;DR: Insider plans to sell a small block of recently issued restricted shares; immaterial to overall capitalization.
The filing documents a proposed sale of 7,474 common shares totaling $141,183.86 against 79,968 shares outstanding. The shares were granted as restricted stock awards across three dates in March 2025 and are slated for sale in August 2025 through Broadridge. This appears to be a routine post-vesting disposition of equity compensation rather than a strategic change in ownership. No prior sales in the last three months are reported.
TL;DR: Filing is a standard Rule 144 notice tied to equity compensation vesting with typical disclosures and broker routing.
The notice lists the broker, acquisition dates, and payment type as equity compensation, fulfilling Rule 144 disclosure requirements. The representation regarding absence of nonpublic material information is present. There are no governance red flags disclosed, such as accelerated insider sales or clustered disposals, and the transaction size is limited relative to outstanding shares.