SEC Form 4 · accession 0001273412-18-000062
PEAPACK GLADSTONE FINANCIAL CORP · PGC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John P Babcock
Officer — SEVP & Pres of Priv Wealth Mgt
Period of report
Mar 26, 2018
Accepted (ET)
Mar 28, 2018 · 12:33 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001050743
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 26, 2018 | D | 25,681 | $33.50 | D | 49,300 | D | |
| Common StockF3 | holding | — | — | — | 3,841 | I | Rabbi Trust | |
| Common StockF4 | holding | — | — | — | 5,325 | I | 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF5,F6 | — | holding | — | — | — | — | — | Common Stock | 10,614 | 21,069 | D |
| Restricted Stock UnitF5,F7 | — | holding | — | — | — | — | — | Common Stock | 1,995 | 1,995 | D |
| Restricted Stock UnitF8,F9 | — | holding | — | — | — | — | — | Common Stock | 10,614 | 10,614 | D |
Explanation of responses
- F1On March 11, 2014, 25,681 shares of restricted stock were granted subject to reaching certain performance conditions over the 5 year vesting period. On March 26, 2018 these shares were forfeited due to those certain performance conditions not being satisfied.
- F210,804 shares held in trust
- F3Held indirectly through a rabbi trust pursuant to a non-qualified deferred compensation plan.
- F4Includes 401(K) contributions used to purchase PGC stock.
- F5Each restricted stock unit represents a contingent right to receive one share of common stock of Peapack-Gladstone Financial Corporation.
- F6The restricted stock units vest and settle in stock in three approximately equal installments on each of the first three anniversaries of the grant date.
- F7The restricted stock units vest and settle in stock in five approximately equal installments on each of the first five anniversaries of the grant date.
- F8Each restricted stock unit represents the right to receive one share of common stock of Peapack-Gladstone Financial Corporation subject to certain performance conditions. The units will cliff vest, after three years, if the conditions are met.
- F9The restricted stock units will cliff vest on the third anniversary of the grant date subject to certain performance conditions being satisfied.