How Kennedy was paid
$3.5M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Douglas L. KennedyPresident & CEO of Peapack-Gladstone and the Bank | $936,000 | $863,540 | $1,205,341 | $49,798 | $424,852 | $3,479,531 |
| Frank A. CavallaroSenior Executive Vice President and CFO | $475,000 | $369,316 | $467,689 | — | $21,000 | $1,333,005 |
| Robert A. PlanteExecutive Vice President and Chief Operating Officer | $402,718 | $232,115 | $299,032 | — | $21,000 | $954,865 |
| John P. BabcockSenior Executive Vice President and President of Private Wealth | $600,257 | $557,224 | $600,191 | $24,899 | $224,120 | $2,006,691 |
| Gregory M. SmithSenior Executive Vice President and President of Commercial | $440,000 | $363,613 | $435,407 | — | $21,000 | $1,260,020 |
What changed and why
- $3.5MDouglas L. Kennedy received a total compensation of $3,479,531 for fiscal 2025, representing an increase from the prior year.
- 3%Base salary for the CEO increased following a 3% merit increase and a market adjustment.
- 75%The short-term cash incentive for the CEO was based 75% on company performance at maximum and 25% on individual performance.
- 60%Long-term incentives consisted of 60% performance-based restricted stock units and 40% time-based restricted stock units.
- 73%The say-on-pay advisory vote received 73% support from shareholders at the previous annual meeting.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.