Provident (PFS) Insider Sale: Giannola Disposes of 7,474 Shares
Rhea-AI Filing Summary
Provident Financial Services insider filing shows that on 08/21/2025 Vito Giannola, EVP & CRBO, reported an amended Form 4 covering a sale of 7,474 shares of Common Stock at $18.77 per share. After the reported transaction the filing shows Mr. Giannola directly beneficially owns 69,766 shares. The filing also discloses indirect holdings of 2,628 shares by ESOP and 13,272 shares by IRA, and the form is signed pursuant to power of attorney.
Positive
- Transparent disclosure of the insider sale with exact share count and price
- Breakdown of ownership showing direct and indirect holdings (ESOP and IRA)
- Amendment filed indicating the reporting record was corrected or supplemented
Negative
- Insider sale of 7,474 shares at $18.77 (reduces officer's direct holdings)
- No explanation in the filing for the reason for the sale beyond standard Form 4 reporting
Insights
TL;DR: Officer sold 7,474 shares at $18.77; remaining direct ownership 69,766 shares — routine insider sale disclosure.
The Form 4/A documents a sale rather than an option exercise or derivative transaction. The reported sale quantity and price are explicitly provided and the filing shows remaining direct and indirect holdings. As filed by an executive officer, this disclosure provides transparency on executive equity positions. The amendment and power of attorney signature indicate this was corrected or supplemented after the initial submission.
TL;DR: Filing is a standard Section 16 disclosure of an insider sale with clear breakdown of direct and indirect holdings.
The report identifies the reporting person as an officer (EVP & CRBO) and lists direct and indirect ownership by ESOP and IRA. The inclusion of an amended filing and a power of attorney signature are procedural details consistent with ensuring the public record is accurate. The filing contains no additional disclosures such as plans or derivative activity.