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Peapack Gladstone Financial Executive Compensation (FY25)

PGC · Executive and director compensation, fiscal 2022 to 2025
Latest say-on-pay support
=
April 29, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 11, 2026Latest filing (8-K): April 30, 2026
16 filings cited on this page
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317 figures on this page: 306 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Douglas Kennedy: $2,699,356 → $3,479,531 (28.9% higher)
Say-on-pay support: 73.5% → 70.3% (3.2 points lower)
CEO pay ratio: 23:1 → 31:1 (34.8% higher)

Frequently asked questions

Answers drawn from the data on this page.
What was Peapack Gladstone Financial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 70.3% of votes cast for or against in favor at the meeting held April 29, 2026.
Which companies are in Peapack Gladstone Financial's peer group?
The disclosed peer group names Amerant Bancorp Inc., Arrow Financial Corp., Berkshire Hills Bancorp, Inc., Capital Bancorp, Inc. and ConnectOne Bancorp, Inc., among others.
What is Peapack Gladstone Financial's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 31:1, against median employee compensation of $113,822.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Kennedy
President & CEO of Peapack- Gladstone and the Bank
◇—◇—◇—◇◇
John Babcock
Senior Executive Vice President of Peapack-Gladstone
◇—◇—◇—◇◇
Jeffrey Carfora
Senior Executive Vice President, Former CFO
◇—◇—◇—◇◇
Gregory Smith
Senior Executive Vice President and President of
◇—◇—◇—◇◇
Robert Plante
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Frank Cavallaro
Senior Executive Vice President and CFO of Peapack-Gladstone and the Bank
◇◇—————◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Kennedy
President & CEO of Peapack-Gladstone and the Bank
◇—◇—◇◇◇◇
John Babcock
Senior Executive Vice President of Peapack-Gladstone and President of Private Wealth Management
◇—◇—◇◇◇◇
Gregory Smith
Senior Executive Vice President and President of Commercial Banking of
◇—◇—◇—◇◇
Robert Plante
Executive Vice President and Chief Operating Officer of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
Frank Cavallaro
Senior Executive Vice President and CFO of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Kennedy
President & CEO of Peapack-Gladstone and the Bank
◇—◇—◇◇◇◇
John Babcock
Senior Executive Vice President of Peapack-Gladstone and the Bank and President of Private Wealth Management
◇—◇—◇◇◇◇
Gregory Smith
Senior Executive Vice President of Peapack-Gladstone and the Bank, President of Commercial Banking
◇—◇—◇—◇◇
Frank Cavallaro
Senior Executive Vice President and CFO of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
Robert Plante
Executive Vice President and Chief Operating Officer of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Kennedy
President & CEO of Peapack-Gladstone and the Bank
◇—◇—◇◇◇◇
John Babcock
Senior Executive Vice President of Peapack-Gladstone and the Bank and President of Private Wealth Management
◇—◇—◇◇◇◇
Frank Cavallaro
Senior Executive Vice President and CFO of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
Gregory Smith
Senior Executive Vice President of Peapack-Gladstone and the Bank, President of Commercial Banking
◇—◇—◇—◇◇
Robert Plante
Executive Vice President and Chief Operating Officer of Peapack-Gladstone and the Bank
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Douglas L. KennedyPSU◇◇◇◇◇—◇
Frank A. CavallaroPSU◇◇◇◇◇—◇
Gregory M. SmithPSU◇◇◇◇◇—◇
John P. BabcockPSU◇◇◇◇◇—◇
Robert A. PlantePSU◇◇◇◇◇—◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Douglas KennedyPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
John BabcockPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Gregory SmithPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Robert PlantePSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Frank CavallaroPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Douglas Kennedy
President & CEO of Peapack-Gladstone and the Bank · Terms as announced by the company
Severance multiple◇
Severance base◇
Equity acceleration on change in control◇
Frank Cavallaro
Senior Executive Vice President and CFO of Peapack-Gladstone and the Bank · Employment agreement · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control base◇
Gregory Smith
Senior Executive Vice President of Peapack-Gladstone and the Bank, President of Commercial Banking · Employment agreement
Severance multiple◇
Severance base◇
John Babcock
Senior Executive Vice President of Peapack-Gladstone and the Bank and President of Private Wealth Management · Terms as announced by the company
Severance cash amount◇
Equity acceleration on change in control◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
F. Duffield Meyercord
Board chair
◇◇————◇
Steven A. Kass
◇◇————◇
Richard Daingerfield
◇◇————◇
Edward A. Gramigna Jr
◇◇————◇
Anthony J. Consi II
◇◇————◇
Patrick J. Mullen
◇◇————◇
Beth Welsh
◇◇————◇
Tony Spinelli
◇◇————◇
Patrick M. Campion
◇◇————◇
Carmen M. Bowser
◇◇————◇
Susan A. Cole
◇◇————◇
Peter D. Horst
◇◇————◇
Philip W. Smith III
◇◇————◇
Ellen C. Walsh, Diane D'Erasmo and Douglas L. Kennedy served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Board meeting fee◇
Committee meeting fee◇
Stock ownership guideline: Stock ownership in compliance with the Company’s stock ownership guidelines.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Amerant Bancorp Inc. AMTB
  • Arrow Financial Corp. AROW
  • Berkshire Hills Bancorp, Inc. BBT
  • Capital Bancorp, Inc. CBNK
  • ConnectOne Bancorp, Inc. CNOB
  • Dime Community Bancshares, Inc. DCOM
  • Eagle Bancorp, Inc. EGBN
  • Enterprise Bancorp, Inc. EBTC
  • Flushing Financial Corp. FFIC
  • Kearny Financial Corp. KRNY
  • MetroCity Bankshares Inc. MCBS
  • Metropolitan Bank Holding Corp. MCB
  • Northfield Bancorp (Staten Island) NFBK
  • OceanFirst Financial Corp. OCFC
  • Orrstown Financial Services ORRF
  • Sandy Spring Bancorp Inc. SASR
  • Stock Yards Bancorp Inc. SYBT
  • Tompkins Financial Corp. TMP
  • Univest Financial Corp. UVSP
  • Washington Trust Bancorp, Inc. WASH

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 29, 2026=◇◇◇
2024April 29, 2025=◇◇◇
2023April 30, 2024=◇◇◇
2022May 2, 2023=◇◇◇
2021May 3, 2022=◇◇◇
2020May 4, 2021=◇◇◇
2019May 5, 2020=◇◇◇
2018April 30, 2019=◇◇◇
2017May 9, 2018=◇◇◇
2016April 25, 2017=◇◇◇
2015April 26, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Douglas Kennedy (President & CEO of Peapack-Gladstone and the Bank), FY2025 total compensation $3,479,531 (base salary $936,000) [exec_comp, SEC accession 0001193125-26-108191, filed 2026-03-16]

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What this page does not include

Everything above is a fact Peapack Gladstone Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Peapack Gladstone Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $299
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $299
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $299
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
317 figures on this page: 306 cited to the filing that reported them, 11 calculated from figures it prints.
306 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001193125-26-195221
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-108191
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · Grants of Plan-Based Awards · and 3 more sections
  3. 0000943374-26-000080
    Compensation Discussion and Analysis
  4. 0000950170-25-060851
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0000950170-25-042474
    Summary Compensation Table
  6. 0000950170-24-051065
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0000950170-24-032103
    Summary Compensation Table
  8. 0000950170-23-016995
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0000950170-23-008624
  10. 0001564590-22-017778
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001564590-21-023232
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001564590-20-021582
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001564590-19-015517
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001174947-18-000783
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001174947-17-000679
    Item 5.07 Submission of Matters to a Vote of Security Holders
  16. 0001174947-16-002565
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
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Velarion, “Peapack Gladstone Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PGC (accessed 2026).
Short form: data: Velarion

The Peapack Gladstone Financial brief, $299

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Both reports for $449.
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16 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Peapack Gladstone Financial discloses

The companies named in PGC's own disclosed peer group.

Amerant Bancorp Inc.Arrow Financial Corp.Berkshire Hills Bancorp, Inc.Capital Bancorp, Inc.ConnectOne Bancorp, Inc.Dime Community Bancshares, Inc.Eagle Bancorp, Inc.Flushing Financial Corp.Kearny Financial Corp.MetroCity Bankshares Inc.Metropolitan Bank Holding Corp.Northfield Bancorp (Staten Island)OceanFirst Financial Corp.Orrstown Financial ServicesSandy Spring Bancorp Inc.Stock Yards Bancorp Inc.Tompkins Financial Corp.Univest Financial Corp.Washington Trust Bancorp, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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