secwatch.observer — SEC 8-K summary
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Issuer:     PROVIDENT FINANCIAL SERVICES INC (PFS)
CIK:        0001178970
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001628280-24-006663
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Provident Financial ratifies 2024 incentive plan: EPS, net income, efficiency ratio as metrics
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- Plan uses three corporate targets: EPS (40%), net income (40%), efficiency ratio (20%).
- Potential aggregate payments for NEOs range from ~$827K (threshold) to ~$2.484M (maximum).
- Chief Wealth Officer and President of Provident Protection Plus incentivized 20% on company performance, 80% on business line.
- Plan previously approved by stockholders in 2015; no changes to structure for 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024006663/0001628280-24-006663-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024006663/pfs-20240222.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-006663

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer