---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-125298"
form_type: "8-K"
ticker: "PGC"
cik: "0001050743"
company_name: "PEAPACK GLADSTONE FINANCIAL CORP"
filed_at: "2026-03-26T23:59:59+00:00"
generated_at: "2026-05-15T08:46:46.242999+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Peapack-Gladstone closes $30M preferred stock, can issue $20M more by 2027

## Summary
- Initial $30M of 6% non-cumulative perpetual convertible preferred stock sold to affiliates of Strategic Value Bank Partners.
- Company has right to sell additional $20M at $1,000/share through Dec 31, 2027; purchasers must buy.
- Preferred stock convertible into common at $38/share (26.32 shares per $1,000 liquidation preference), non-callable for 5 years.
- Proceeds for general corporate purposes: growth, acquisitions, debt reduction, and holding-company or bank-level investments.
- Preferred stock expected to qualify as Tier 1 capital under applicable regulatory requirements.

## SEC filing metadata
- accession: 0001193125-26-125298
- form_type: 8-K
- ticker: PGC
- cik: 0001050743
- company_name: PEAPACK GLADSTONE FINANCIAL CORP
- filed_at: 2026-03-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/0001193125-26-125298-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/d124437d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-125298
- JSON: https://secwatch.observer/filing/0001193125-26-125298.json
- Plain text: https://secwatch.observer/filing/0001193125-26-125298.txt

## Source-grounded claims
- claim_id: 6f06d2e0a55dd3d2af73a6772497c24ee890c812
  claim: PEAPACK GLADSTONE FINANCIAL CORP: Amended Certificate of Incorporation to create a new Series B Preferred Stock with specified designations, powers, preferences, and rights (effective 2026-03-24).
  evidence_excerpt: On March 24, 2026, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to amend its Certificate of Incorporation to revise Article III to create the Preferred Stock, which Certificate of Amendment sets forth the number of shares to be included in such new series and fixes the designation, powers, preferences, and rights of the shares of such series and any qualifications, limitations or restrictions thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/0001193125-26-125298-index.htm
- claim_id: cf076ee7bde170141311a935f02c85b8aeb76db1
  claim: PEAPACK GLADSTONE FINANCIAL CORP entered into Purchase Agreement with Strategic Value Investors, LP and Strategic Value Private Investors II, LP valued at 30,000 shares of 6.00% Non-Cumulative Perpetual Convertible Preferred Stock, Series B for $30.0 mill (effective 2026-03-26).
  evidence_excerpt: The shares were sold pursuant to a Purchase Agreement (the “Purchase Agreement”), dated March 26, 2026, by and among Strategic Value Investors, LP, and Strategic Value Private Investors II, LP (together, the “Purchasers”) and the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/0001193125-26-125298-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.