Provident Financial (NYSE: PFS) director receives 4,012-share stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MCCRACKEN ROBERT E reported acquisition or exercise transactions in this Form 4 filing.
PROVIDENT FINANCIAL SERVICES INC director Robert E. McCracken reported a grant of 4,012 shares of common stock as compensation. The restricted stock was awarded at $0.00 per share and will vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders that meets the stated timing condition.
After this grant, McCracken directly owns 72,530 shares of common stock and indirectly owns 62,330 shares through an LLC. The filing does not show any open-market buying or selling, only this equity award and an updated record of existing indirect holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
MCCRACKEN ROBERT E
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 4,012 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 72,530 shares (Direct, null);
Common Stock — 62,330 shares (Indirect, By LLC)
Footnotes (1)
- [object Object]
Key Figures
Restricted stock grant: 4,012 shares
Grant price: $0.00 per share
Direct holdings after grant: 72,530 shares
+1 more
4 metrics
Restricted stock grant
4,012 shares
Common stock award to director on transaction date
Grant price
$0.00 per share
Compensation grant, not market purchase
Direct holdings after grant
72,530 shares
Common stock held directly by McCracken
Indirect holdings via LLC
62,330 shares
Common stock held indirectly by LLC
Key Terms
restricted stock, annual meeting of stockholders, grant/award acquisition, indirect ownership
4 terms
restricted stock financial
"Grant of restricted stock will vest on the earlier of the one-year anniversary"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
annual meeting of stockholders financial
"or the next annual meeting of stockholders which is at least 50 weeks"
grant/award acquisition financial
"transaction_action: "grant/award acquisition" for the 4,012-share transaction"
indirect ownership financial
"ownership_type: "indirect" and nature_of_ownership: "By LLC" for 62,330 shares"
FAQ
What insider transaction did PFS director Robert McCracken report on this Form 4?
Robert E. McCracken reported receiving a grant of 4,012 shares of Provident Financial Services common stock. This was an equity award at $0.00 per share, reflecting compensation rather than an open-market share purchase or sale.
What are the vesting terms of the restricted stock granted to PFS director McCracken?
The 4,012-share restricted stock grant will vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders that is at least 50 weeks after the prior year’s annual meeting, as specified in the footnote.
How is McCracken’s indirect ownership in Provident Financial Services (PFS) structured?
The filing reports 62,330 shares of Provident Financial Services common stock held indirectly, classified as ownership “By LLC.” This indicates the shares are owned through an LLC associated with McCracken, rather than held directly in his own name.