PFS (PFS) CEO LaBozzetta reports stock award vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PROVIDENT FINANCIAL SERVICES INC President and CEO Anthony J. LaBozzetta reported routine equity compensation and related tax withholding in Common Stock. He received a grant of 30,410 shares at no cost, tied to performance-vesting stock awards granted on May 20, 2024 that vested after meeting performance criteria.
To satisfy tax obligations, 10,416 shares were disposed of through a tax-withholding mechanism at $22.15 per share, which is not an open-market sale. Following these transactions, he holds 589,374 shares directly, plus indirect holdings through his son, spouse’s IRA, his IRA, and a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
LABOZZETTA ANTHONY J
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 30,410 | $0.00 | -- |
| Tax Withholding | Common Stock | 10,416 | $22.15 | $231K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 589,374 shares (Direct, null);
Common Stock — 2,722 shares (Indirect, By 401(k))
Footnotes (1)
- [object Object]
Key Figures
Awarded shares: 30,410 shares
Tax-withheld shares: 10,416 shares
Tax-withholding price: $22.15 per share
+5 more
8 metrics
Awarded shares
30,410 shares
Grant/award acquisition of Common Stock
Tax-withheld shares
10,416 shares
Shares disposed for tax withholding
Tax-withholding price
$22.15 per share
Price for tax-withholding disposition
Direct holdings after transactions
589,374 shares
Common Stock held directly post-transaction
Indirect holdings by son
4,594 shares
Common Stock held indirectly by son
Indirect holdings by spouse's IRA
5,482 shares
Common Stock in spouse's IRA
Indirect holdings by IRA
3,904 shares
Common Stock in reporting person's IRA
Indirect holdings by 401(k)
2,722 shares
Common Stock in 401(k) plan
Key Terms
tax-withholding disposition, grant, award, or other acquisition, performance-vesting stock awards, 401(k), +1 more
5 terms
tax-withholding disposition financial
"10,416 shares were disposed of through a tax-withholding mechanism at $22.15 per share"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition""
performance-vesting stock awards financial
"Performance-vesting stock awards granted May 20, 2024 which vested based on meeting certain performance criteria"
401(k) financial
"nature_of_ownership": "By 401(k)""
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
IRA financial
"nature_of_ownership": "by IRA""
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
FAQ
What did PFS CEO Anthony LaBozzetta report in this Form 4 filing?
He reported routine equity compensation activity. LaBozzetta received 30,410 Common Stock shares as a vested performance-based award and had 10,416 shares withheld at $22.15 per share to cover associated tax liabilities.
Was there an open-market sale of PFS stock in this Form 4?
No open-market sale was reported. The only disposition was 10,416 shares classified as a tax-withholding transaction at $22.15 per share, used to satisfy tax obligations on vested equity awards.
What indirect Provident Financial (PFS) holdings are reported for the CEO?
Indirect holdings include 4,594 shares held by his son, 5,482 shares in his spouse’s IRA, 3,904 shares in his own IRA, and 2,722 shares in a 401(k) plan, all reported as indirect ownership positions in Common Stock.