Provident Financial (NYSE: PFS) adds board member, promotes chief accountant
Rhea-AI Filing Summary
Provident Financial Services, Inc. made key leadership changes effective July 30, 2026. The board elected Michael E. Regan as a Class of 2028 director to the boards of the company and Provident Bank, expanding each board from 12 to 13 directors. He will serve on the Audit, Enterprise Risk and Finance Committees.
The company also promoted Diane Gigliotti, previously Senior Vice President and Controller of the bank, to Senior Vice President and Chief Accounting Officer of both entities. Her package includes an initial base salary of $310,000, a target annual incentive equal to 30% of base salary and a target long-term incentive equal to 25%. The company reports no related-person transactions involving either appointee and no family relationships for Ms. Gigliotti.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Board size: 13 directors
Director term: Class of 2028
Base salary: $310,000
+4 more
7 metrics
Board size
13 directors
Company and Bank boards expanded from 12 to 13 directors with Regan's election
Director term
Class of 2028
Regan elected as a Class of 2028 director with term expiring at the 2028 annual meeting
Base salary
$310,000
Initial annual base salary for Chief Accounting Officer Diane Gigliotti
Target annual incentive
30% of annual base salary
Target annual incentive opportunity for Diane Gigliotti
Target long-term incentive
25% of annual base salary
Target long-term incentive opportunity for Diane Gigliotti
Experience
more than 20 years
Gigliotti's experience in accounting, finance, regulatory reporting and financial services leadership
FDIC examination asset range
$100 million to more than $100 billion
Asset sizes of institutions Regan examined as a Senior Bank Examiner with the FDIC
Key Terms
Audit Committee, Enterprise Risk Committee, Chief Accounting Officer, Regulation FD Disclosure, +1 more
5 terms
Audit Committee financial
"appointed to serve as a member of the Company’s Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Enterprise Risk Committee financial
"appointed to serve as a member of the Company’s Audit Committee, the Enterprise Risk Committee"
Chief Accounting Officer financial
"appointed to the role of Senior Vice President and Chief Accounting Officer of the Company"
A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure A copy of the press release"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What governance changes did Provident Financial Services (PFS) disclose?
Provident Financial Services announced two leadership moves: appointing Michael E. Regan to the company and bank boards and promoting Diane Gigliotti to Senior Vice President and Chief Accounting Officer for both entities, with expanded oversight of accounting and financial reporting.
What is Michael Regan’s new role at Provident Financial Services (PFS)?
Michael E. Regan joined the boards of Provident Financial Services, Inc. and Provident Bank as a Class of 2028 director. His term runs until the 2028 annual meeting, and he will serve on the Audit Committee, Enterprise Risk Committee and Finance Committee.
What compensation will new Chief Accounting Officer Diane Gigliotti receive at PFS?
Diane Gigliotti will receive an initial annual base salary of $310,000, a target annual incentive equal to 30% of base salary and a target long-term incentive equal to 25%. She is also eligible for employee benefit plans offered to similarly situated executives.
What experience does Diane Gigliotti bring to her new role at PFS?
Diane Gigliotti has more than 20 years of experience in accounting, finance, regulatory reporting and financial services leadership. She previously served as CFO and Managing Director of BBVA’s New York Branch and has held roles at Merrill Lynch and PricewaterhouseCoopers.
How did the board size change at Provident Financial Services (PFS)?
With Michael Regan’s election, the boards of Provident Financial Services, Inc. and Provident Bank were each expanded from 12 to 13 directors. This change reflects the addition of one new director seat at both the holding company and bank levels.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 30, 2026
(Exact Name of Registrant as Specified in its Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
Registrant's telephone number, including area code | ||||||||||||||
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol Symbol(s) | Name of each exchange on which registered | ||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
CFR 240.14d-2(b))
CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Election of Director
On July 30, 2026, the Board of Directors (the “Board”) of Provident Financial Services, Inc. (the “Company”) elected Michael E. Regan as a Class of 2028 director for a term expiring at the 2028 annual meeting of stockholders and until his successor is elected and qualified. Mr. Regan also was elected to the Board of Directors of Provident Bank (the “Bank”), the Company’s wholly owned subsidiary. In connection with Mr. Regan’s election, the Company and the Bank have each expanded the sizes of their respective Boards of Directors from 12 to 13 directors. In addition, Mr. Regan was appointed to serve as a member of the Company’s Audit Committee, the Enterprise Risk Committee and the Finance Committee.
There is no arrangement or understanding between Mr. Regan and any other person pursuant to which he was elected as a director. There is no current or currently proposed transaction as to which the Company or any of its subsidiaries was or is to be a participant and in which Mr. Regan has or will have a direct or indirect material interest, and which would be reportable as a related person transaction pursuant to Item 404(a) of Regulation S-K.
For his service on the Board, Mr. Regan will receive the standard compensatory arrangements provided to other non-employee directors of the Company, including cash retainers and equity awards, as described in the Company’s definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 8, 2026, and such information is incorporated herein by reference.
Appointment of Principal Accounting Officer
On July 30, 2026, Diane Gigliotti, previously Senior Vice President and Controller of the Bank, was appointed to the role of Senior Vice President and Chief Accounting Officer of the Company and the Bank. In her new role, Ms. Gigliotti will be responsible for leading the Company and the Bank’s accounting function, providing oversight of accounting policy, financial reporting, regulatory reporting, internal controls, tax oversight, and accounting operations. As Chief Accounting Officer, she will also serve as a strategic advisor to the Executive Leadership Team and the Board on complex accounting matters, helping ensure the integrity of the Company’s financial reporting and supporting sound business decision-making.
In connection with Ms. Gigliotti's appointment, she will receive an initial annual base salary of $310,000, a target annual incentive opportunity equal to 30% of her annual base salary and a target long-term incentive opportunity equal to 25% of her annual base salary. She will also be eligible to participate in the employee benefit plans generally available to similarly situated executives.
Ms. Gigliotti, age 46, joined the Company in 2023 and brings more than 20 years of experience in accounting, finance, regulatory reporting, and financial services leadership. Prior to joining the Company, she served as Chief Financial Officer and Managing Director of BBVA’s New York Branch, where she was responsible for accounting, financial reporting, regulatory reporting, tax oversight, audit coordination, and executive financial management. During her tenure, she led numerous regulatory, accounting, and operational initiatives, including the implementation of new accounting standards, regulatory compliance programs, and process improvement projects. Earlier in her career, Ms. Gigliotti held finance and accounting positions with Merrill Lynch and PricewaterhouseCoopers, where she developed extensive expertise in financial reporting, technical accounting, regulatory compliance, and audit management. She earned a Master of Business Administration from New York University’s Leonard N. Stern School of
Business and a Bachelor of Science in Accounting from Rutgers University. She is also a Certified Public Accountant.
There is no current or currently proposed transaction as to which the Company or any of its subsidiaries was or is to be a participant and in which Ms. Gigliotti has or will have a direct or indirect material interest, and which would be reportable as a related person transaction pursuant to Item 404(a) of Regulation S-K. There also are no family relationships between Ms. Gigliotti and any of the Company’s directors, executive officers or persons nominated or chosen by the Company to become a director or executive officer.
Item 7.01. Regulation FD Disclosure
A copy of the press release announcing Mr. Regan’s election to the Board is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. A copy of the press release announcing Ms. Gigliotti’s appointment as Senior Vice President and Chief Accounting Officer is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
The information set forth in this Item 7.01, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed“ for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act“), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Shell Company Transactions. Not applicable.
(d) Exhibits.
Exhibit No. Description
99.1 Press release announcing the election of director dated August 4, 2026
99.2 Press release announcing the appointment of Principal Accounting Officer dated August 4, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
PROVIDENT FINANCIAL SERVICES, INC. | ||||||||||||||
DATE: | August 4, 2026 | By:/s/ Bennett MacDougall | ||||||||||||
| Bennett MacDougall | ||||||||||||||
| EVP, General Counsel & Corporate Secretary | ||||||||||||||
NEWS RELEASE Provident Financial Services, Inc. and Provident Bank Appoint Michael E. Regan to the Boards of Directors ISELIN, NEW JERSEY (August 4, 2026) – Provident Financial Services, Inc. (NYSE: PFS) (the "Company") announced today that Michael E. Regan has been appointed to the boards of directors of the Company and its wholly owned subsidiary, Provident Bank, effective July 30, 2026. Mr. Regan is a seasoned financial regulatory executive with more than 35 years of experience overseeing the safety, soundness, governance, and risk management practices of community, regional, and complex financial institutions. During his distinguished career with the Federal Deposit Insurance Corporation (FDIC), he advised boards of directors and executive leadership teams on corporate governance, enterprise risk management, capital adequacy, liquidity oversight, and regulatory compliance. As a Senior Bank Examiner with the FDIC, Mr. Regan led complex safety and soundness examinations for financial institutions ranging in size from $100 million to more than $100 billion in assets. He regularly presented examination findings and strategic recommendations to board audit and risk committees, providing independent assessments of credit risk, operational resilience, cybersecurity preparedness, internal controls, and executive oversight. Throughout his career, he also supervised multidisciplinary examination teams, reviewed merger and acquisition applications, and advised on governance practices, succession planning, and executive compensation risk alignment. "We are pleased to welcome Mike to the boards of Provident Financial Services and Provident Bank," said Christopher Martin, Executive Chairman. "Mike brings exceptional regulatory expertise and a distinguished career dedicated to helping financial institutions strengthen governance, manage risk, and operate safely and soundly. His experience advising boards of directors and executive leadership teams across institutions of all sizes will provide valuable perspective as we continue to execute our strategic priorities, uphold strong corporate governance, and create long-term value for our shareholders. We look forward to benefiting from his insight and counsel."
"I am honored to join the boards of Provident Financial Services and Provident Bank," said Mr. Regan. "Throughout my career, I have appreciated the important role strong governance, prudent risk management, and a customer-focused culture play in building successful financial institutions. Provident has earned an outstanding reputation in each of these areas, and I look forward to working with Chris, my fellow directors, and Tony and the executive leadership team to help support the Company's continued growth and long-term success." Mr. Regan holds a Bachelor of Science in Finance from Rider University. Throughout his career, he has been recognized for providing independent oversight and strategic guidance on enterprise risk management, regulatory relations, governance effectiveness, and sustainable institutional performance. ### About the Company Provident Financial Services, Inc. is the holding company for Provident Bank, a community- oriented bank offering "Commitment you can count on" since 1839. Provident Bank provides a comprehensive array of financial products and services through its network of branches throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. Media Contact: Keith Buscio Director of Public Relations & Communications Keith.Buscio@provident.bank
NEWS RELEASE Provident Financial Services, Inc. and Provident Bank Promote Diane Gigliotti to Senior Vice President, Chief Accounting Officer Experienced finance leader assumes expanded role overseeing accounting strategy and financial reporting ISELIN, New Jersey (August 4, 2026) — Provident Financial Services, Inc. (NYSE: PFS) (the "Company") and Provident Bank, a leading New Jersey-based financial institution (the “Bank”), announced today that Diane Gigliotti has been promoted to Senior Vice President, Chief Accounting Officer. Previously serving as the Bank’s Controller, Gigliotti will report to Adriano Duarte, Executive Vice President and Chief Financial Officer. In her new role, Gigliotti will provide leadership and oversight for the Company and the Bank’s accounting function, including accounting policy, financial reporting, regulatory reporting, internal controls, tax oversight, and accounting operations. She will also serve as a strategic advisor on complex accounting matters, helping ensure the integrity of the Company’s financial reporting and supporting sound business decision-making. “Diane is an exceptional leader whose expertise, judgment, and commitment to excellence have made a significant impact on our Finance organization,” said Adriano Duarte, Executive Vice President and Chief Financial Officer. “Since joining Provident, she has consistently demonstrated a deep understanding of accounting, regulatory reporting, and financial management, while fostering a culture of collaboration and accountability. Diane’s promotion reflects both her outstanding contributions and our confidence in her ability to lead the Bank’s accounting function as we continue to grow and execute on our strategic priorities.” Gigliotti brings more than 20 years of experience in accounting, finance, regulatory reporting, and financial services leadership. Prior to joining Provident, she served as Chief Financial Officer and Managing Director of BBVA’s New York Branch, where she was responsible for accounting, financial reporting, regulatory reporting, tax oversight, audit coordination, and executive financial management. During her tenure, she led numerous regulatory, accounting, and operational initiatives, including the implementation of new accounting standards, regulatory compliance programs, and process improvement projects.
Earlier in her career, Gigliotti held finance and accounting positions with Merrill Lynch and PricewaterhouseCoopers, where she developed extensive expertise in financial reporting, technical accounting, regulatory compliance, and audit management. She earned a Master of Business Administration from New York University’s Leonard N. Stern School of Business and a Bachelor of Science in Accounting from Rutgers University. She is also a Certified Public Accountant. “I am honored to assume the role of Chief Accounting Officer and grateful for the confidence that Provident’s leadership has placed in me,” said Gigliotti. “Provident has a strong culture centered on teamwork, integrity, and serving our customers and communities. I look forward to continuing to work alongside our talented Finance team and colleagues across the organization to support the Bank’s long-term success and strategic objectives.” ### About the Company Provident Financial Services, Inc. is the holding company for Provident Bank, a community- oriented bank offering "Commitment you can count on" since 1839. Provident Bank provides a comprehensive array of financial products and services through its network of branches throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. Media Contact: Keith Buscio Director, Public Relations & Communications keith.buscio@provident.bank