secwatch.observer — SEC 8-K summary
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Issuer:     PEAPACK GLADSTONE FINANCIAL CORP (PGC)
CIK:        0001050743
Form:       8-K
Filed at:   2022-03-03T23:59:59+00:00
Accession:  0000943374-22-000108
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peapack-Gladstone revises employment terms for four top executives
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- Douglas Kennedy base salary $731k; Jeffrey Carfora $376k; John Babcock $545k; Gregory Smith $340k.
- Term through Dec 31, 2023, auto-renews to 3-year term each Jan 1 unless notice given.
- Non-CIC severance: greater of 2x base salary or remaining term salary, paid over 2 years.
- CIC severance: 3x base salary plus 3x average bonus (lump sum), plus COBRA up to 36 months.
- Robert Plante enters separate change-in-control agreement; severance of 2x base plus 2x bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050743/000094337422000108/0000943374-22-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050743/000094337422000108/form8k_080521.htm
  HTML page:      https://secwatch.observer/filing/0000943374-22-000108

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