Peapack Gladstone officer sells 1,250 shares
A senior executive at PGC sold 1,250 common shares while retaining a sizable mix of stock, RSUs, and phantom stock awards.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
PEAPACK GLADSTONE FINANCIAL CORP (PGC) officer Gregory Martin Smith, SEVP and President Commercial Banking, reported a sale of 1,250 shares of common stock on September 2, 2026 at $44.66 per share. After this transaction he directly holds 12,622 common shares, plus multiple equity awards in the form of restricted stock units and phantom stock tied to PGC common stock.
Insider Trade Summary
Net Seller: 1,250 shares
Net Sell
9 txns
Insider
Smith Gregory Martin
Role
SEVP, President Comml Banking
Sold
1,250 shs ($56K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,250 | $44.66 | $56K |
| holding | Restricted Stock Units F1 | -- | -- | -- |
| holding | Restricted Stock Units F2 | -- | -- | -- |
| holding | Restricted Stock Units F3 | -- | -- | -- |
| holding | Restricted Stock Units F4 | -- | -- | -- |
| holding | Restricted Stock Units F5 | -- | -- | -- |
| holding | Restricted Stock Units F6 | -- | -- | -- |
| holding | Phantom Stock F7 | -- | -- | -- |
| holding | Phantom Stock F8 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 12,622 shares (Direct);
Restricted Stock Units — 32,515 contracts (Direct);
Phantom Stock — 9,904 contracts (Direct)
Footnotes (8)
- F1. On March 20, 2025, the reporting person was granted 4,922 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 6,863 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, 2022, the reporting person was granted 7,853 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2023. Upon vesting, each RSU converts into one share of PGC common stock.
- F4. On March 20, 2023, the reporting person was granted 7,797 restricted stock units (RSUs), vesting in five equal annual installments beginning on March 20, 2024. Upon vesting, each RSU converts into one share of PGC common stock.
- F5. On March 20, 2025, the reporting person was granted 7,383 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.
- F6. On March 20, 2026, the reporting person was granted 10,294 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.
- F7. On March 20, 2024, the reporting person was granted 5,402 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.
- F8. On March 20, 2024, the reporting person was granted 8,103 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
Shares sold: 1,250 shares
Sale price per share: $44.66 per share
Direct holdings after transaction: 12,622 shares
+5 more
8 metrics
Shares sold
1,250 shares
Common stock sale on September 2, 2026
Sale price per share
$44.66 per share
Common stock sold on September 2, 2026
Direct holdings after transaction
12,622 shares
Common stock held directly following the sale
RSUs underlying shares (grant linked to F1)
3,282 shares
Restricted Stock Units tied to common stock, direct ownership
RSUs underlying shares (grant linked to F2)
6,863 shares
Restricted Stock Units tied to common stock, direct ownership
Performance-based RSUs (grant linked to F6)
10,294 shares
Restricted Stock Units vesting on third anniversary if conditions are met
Phantom stock underlying shares (grant linked to F7)
1,801 shares
Phantom stock economically equivalent to common stock upon vesting
Performance-based phantom stock (grant linked to F8)
8,103 shares
Phantom stock vesting on third anniversary if performance conditions are met
Key Terms
Restricted Stock Units, phantom stock, economic equivalent, performance conditions, +1 more
5 terms
Restricted Stock Units financial
"the reporting person was granted 4,922 restricted stock units (RSUs), vesting"
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 5,402 phantom stock shares, vesting"
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.
economic equivalent financial
"each phantom share is the economic equivalent of one share of common stock"
performance conditions financial
"vesting on the third anniversary of the grant if certain performance conditions"
three equal annual installments financial
"vesting in three equal annual installments beginning on March 20, 2026"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did PGC report for Gregory Martin Smith?
Gregory Martin Smith reported a sale of 1,250 shares of PEAPACK GLADSTONE FINANCIAL CORP common stock on September 2, 2026 at $44.66 per share, described as a sale in the open market or a private transaction.
Does Gregory Martin Smith have additional PGC equity through RSUs or phantom stock?
Yes. He holds several restricted stock unit awards, including grants currently covering 3,282 and 6,863 underlying common shares, and phantom stock awards currently covering 1,801 and 8,103 underlying common shares, each convertible or economically equivalent to PGC common stock upon vesting.
What are the key terms of Gregory Martin Smith’s recent RSU grants at PGC?
Footnotes state he received RSU grants such as 4,922 RSUs on March 20, 2025 and 6,863 RSUs on March 20, 2026, each vesting in three equal annual installments beginning one year after grant, with each vested RSU converting into one PGC common share.
How are performance-based RSUs and phantom stock structured for PGC’s Gregory Martin Smith?
Some awards are performance-based, including 7,383 RSUs (2025), 10,294 RSUs (2026), and 8,103 phantom stock shares (2024), each vesting on the third anniversary of grant if specified performance conditions are met, then converting to or matching one PGC common share each.
Was the PGC insider sale reported under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirmed, and the footnotes do not describe a trading plan. The sale is therefore not reported as having been made under a Rule 10b5-1 or similar pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
