Provident Financial (NYSE: PFS) CIOO reports stock award and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PROVIDENT FINANCIAL SERVICES INC executive Ravi Vakacherla reported equity compensation activity in Common Stock. He received a grant/award of 8,803 shares that vested based on performance criteria, at a stated price of $0.00 per share. To cover tax obligations, 2,760 shares were disposed of through a tax-withholding transaction at $22.15 per share, which is not an open-market sale. After these entries, he directly holds 25,167 shares and indirectly holds 593 shares through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Vakacherla Ravi
Role
CIOO of Provident Bank
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 8,803 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,760 | $22.15 | $61K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 25,167 shares (Direct, null);
Common Stock — 593 shares (Indirect, By 401(k) Plan)
Footnotes (1)
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Key Figures
Tax-withholding shares: 2,760 shares
Tax-withholding price: $22.15 per share
Awarded shares: 8,803 shares
+3 more
6 metrics
Tax-withholding shares
2,760 shares
Common Stock disposed for tax at $22.15 on May 20, 2026
Tax-withholding price
$22.15 per share
Price used for 2,760-share tax-withholding disposition
Awarded shares
8,803 shares
Performance-vesting stock award acquisition at $0.00 per share
Direct holdings after transactions
25,167 shares
Common Stock directly owned following May 20, 2026 entries
Indirect 401(k) holdings
593 shares
Common Stock held indirectly via 401(k) plan
Tax-withholding value
$61,134.00
2,760 shares at $22.15 per share (derived transaction value)
Key Terms
Performance-vesting stock awards, tax-withholding disposition, Grant, award, or other acquisition, 401(k) Plan
4 terms
Performance-vesting stock awards financial
"Performance-vesting stock awards granted May 20, 2024 which vested based on meeting certain performance criteria."
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
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""
401(k) Plan financial
"nature_of_ownership": "By 401(k) Plan""
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
FAQ
What insider transactions did Ravi Vakacherla report for PFS?
Ravi Vakacherla reported a grant of 8,803 Provident Financial Services (PFS) common shares and a tax-withholding disposition of 2,760 shares. These entries reflect equity compensation vesting and related tax payments, rather than open-market buying or selling of stock.