PGC CFO buys additional common stock in open market
Peapack-Gladstone Financial Corp Senior Executive Vice President and Chief Financial Officer Frank A. Cavallaro bought 2,889.842 shares of common stock in an open-market purchase at $34.95 per share, increasing his direct holdings to 14,713.842 shares.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Peapack-Gladstone Financial Corp Senior Executive Vice President and Chief Financial Officer Frank A. Cavallaro bought 2,889.842 shares of common stock in an open-market purchase at $34.95 per share, increasing his direct holdings to 14,713.842 shares. He also holds several grants of restricted stock units and phantom stock that convert into, or are the economic equivalent of, common stock as they vest over future years, some subject to time-based schedules and others to performance conditions tied to grants made on March 20, 2024, 2025, and 2026.
Insider Trade Summary
Net Buyer: 2,889.842 shares
Net Buy
1 txn
Insider
Cavallaro Frank A.
Role
SEVP & Chief Financial Officer
Bought
2,889.842 shs ($101K)
Increase in Position
24.4%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 2,889.842 | $34.95 | $101K |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Phantom Stock | -- | -- | -- |
| Holding | Phantom Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 14,713.842 shares (Direct);
Restricted Stock Units — 29,353 contracts (Direct);
Phantom Stock — 8,047 contracts (Direct)
Holdings Before and After:
Common Stock, 11,824 to 14,713.842 shares (Direct)
Other Insiders: 2 other insiders reported open-market purchases of this stock in the 30 days up to this filing.
Footnotes (6)
- F1. On March 20, 2025, the reporting person was granted 4,999 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2026. Upon vesting, each RSU converts into one share of PGC common stock.
- F2. On March 20, 2026, the reporting person was granted 7,408 restricted stock units (RSUs), vesting in three equal annual installments beginning on March 20, 2027. Upon vesting, each RSU converts into one share of PGC common stock.
- F3. On March 20, 2025, the reporting person was granted 7,499 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- F4. On March 20, 2026, the reporting person was granted 11,113 restricted stock units (RSUs), vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each RSU converts into one share of PGC common stock.
- F5. On March 20, 2024, the reporting person was granted 4,389 phantom stock shares, vesting in three equal annual installments beginning on March 20, 2025. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
- F6. On March 20, 2024, the reporting person was granted 6,584 phantom stock shares, vesting on the third anniversary of the grant if certain performance conditions are met. Upon vesting, each phantom share is the economic equivalent of one share of common stock.
Key Figures
Common shares purchased: 2,889.842 shares
Purchase price: $34.95 per share
Common shares after transaction: 14,713.842 shares
+5 more
8 metrics
Common shares purchased
2,889.842 shares
Open-market purchase on March 31, 2026
Purchase price
$34.95 per share
Open-market common stock transaction
Common shares after transaction
14,713.842 shares
Directly held by CFO following purchase
RSU grant March 20, 2025
4,999 units
Vests in three equal annual installments from March 20, 2026
RSU grant March 20, 2026
7,408 units
Vests in three equal annual installments from March 20, 2027
Performance RSU grant 2026
11,113 units
Vests on third anniversary if performance conditions are met
Phantom stock grant 2024 (time-based)
4,389 shares
Vests in three equal annual installments from March 20, 2025
Phantom stock grant 2024 (performance)
6,584 shares
Vests on third anniversary if performance conditions are met
Key Terms
Restricted Stock Units, Phantom Stock, open-market purchase, economic equivalent, +1 more
5 terms
Restricted Stock Units financial
"the reporting person was granted restricted stock units (RSUs), vesting in three equal annual installments"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Phantom Stock financial
"the reporting person was granted phantom stock shares, vesting in three equal annual installments"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
open-market purchase financial
"transaction_action is described as an open-market purchase of common stock"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
economic equivalent financial
"each phantom share is the economic equivalent of one share of common stock"
performance conditions financial
"RSUs vest on the third anniversary of the grant if certain performance conditions are met"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Peapack-Gladstone (PGC) CFO Frank Cavallaro do in this Form 4 filing?
He bought common shares in the open market. Frank A. Cavallaro purchased 2,889.842 shares of Peapack-Gladstone common stock at $34.95 per share, increasing his directly held stake to 14,713.842 shares according to this Form 4 insider trading report.
What restricted stock units does the Peapack-Gladstone (PGC) CFO hold?
He holds several RSU grants tied to common stock. Footnotes describe grants of 4,999, 7,408, 7,499, and 11,113 restricted stock units, which vest over time or upon meeting performance conditions and convert into one share of PGC common stock per vested unit.
What is the phantom stock mentioned in the Peapack-Gladstone (PGC) Form 4?
Phantom stock provides economic exposure to common shares. The filing notes phantom stock grants, including 4,389 and 6,584 shares, which vest over time or on performance. Upon vesting, each phantom share is the economic equivalent of one share of Peapack-Gladstone common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
