Anthony J. Consi, II
About Anthony J. Consi, II
Anthony J. Consi, II (age 79) has served as an independent director of Peapack-Gladstone Financial Corporation since 2000. He is retired, with prior roles including Senior Vice President of Finance and Operations at Weichert Realtors, and 15 years in public accounting at Coopers & Lybrand. The Board has designated him an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Weichert Realtors | Senior Vice President, Finance & Operations | 22 years | Finance/operations leadership context for bank oversight |
| Coopers & Lybrand | Public Accounting (CPA) | 15 years | Deep financial reporting expertise; supports Audit Committee work |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships listed in nominee profile |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member; Risk Committee member. Audit Committee held 8 meetings in 2024; Compensation 6; Nominating 1; Risk 6. Consi is not shown as chair of any committee.
- Audit Committee financial expert: Consi meets SEC criteria.
- Independence: Classified independent; independence review noted “Deposits” relationship category (immaterial per policy).
- Attendance: Each director attended at least 75% of Board and committee meetings in 2024.
- Board leadership and oversight: Independent Chair; separate CEO/Chair; independent committee chairs; independent director executive sessions at least semi-annually.
| Committee | Member | Chair | 2024 Meetings |
|---|---|---|---|
| Audit | Yes | No | 8 |
| Compensation | Yes | No | 6 |
| Nominating | No | — | 1 |
| Risk | Yes | No | 6 |
Fixed Compensation
- Program terms (2024): Board retainer $10,000; $2,000 per regular Board/Executive/committee meeting; $900 per Trust Committee meeting; chair premia: Board Chair $80,000; Audit Chair $25,000; Risk Chair $15,000; Nominating Chair $10,000.
- Consi 2024 cash fees: $81,000; 2024 equity grant (phantom units): $49,490 grant-date fair value (2,069 units at $23.92); aggregate phantom units outstanding at 12/31/2024: 2,069; vesting date March 20, 2025.
| Component | Detail | Amount/Units | Vesting | Notes |
|---|---|---|---|---|
| Cash fees (2024) | Fees earned | $81,000 | — | Includes Board/committee meeting fees per policy |
| Equity (2024) | Phantom stock award | 2,069 units | Vests Mar 20, 2025 | Grant-date fair value $49,490 (at $23.92) |
| Phantom units outstanding | As of 12/31/2024 | 2,069 | — | — |
Performance Compensation
- Director equity awards in 2024 were time-based phantom units; no performance conditions disclosed for non-employee director awards; no options outstanding.
| Performance Condition | Metric | Weight | Notes |
|---|---|---|---|
| None disclosed for director awards | — | — | Phantom units vest time-based on Mar 20, 2025 |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public boards | None disclosed for Consi in nominee profile |
| Interlocks | None disclosed; independence category only “Deposits” |
| Board policy constraint | Directors may not serve on another bank board in the same market area |
Expertise & Qualifications
- Audit committee financial expert; significant accounting and internal control literacy.
- 15 years public accounting (Coopers & Lybrand) and 22 years finance/operations leadership (Weichert Realtors).
- Independence confirmed under NASDAQ rules; immaterial customer relationships reviewed.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Anthony J. Consi, II | 111,379 | 0.63% | Includes 2,618 shares owned by an account where Consi’s wife is a trustee |
- Stock ownership guidelines: new directors must own at least $10,000 in Company stock at appointment; directors must maintain stock equal to 5× the annual Board retainer.
- Hedging and pledging: Directors are prohibited from hedging Company stock and from pledging or holding Company shares in margin accounts.
- Related-party transactions: Directors/officers may maintain deposits/loans on customary market terms; management states such transactions did not involve more than normal risk or unfavorable features.
Insider Trades (Form 4 activity)
| Transaction Date | Filing Date | Type | Security | Qty | Price | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|---|
| 2023-03-20 | 2023-03-21 | Award (RSUs) | Restricted Stock Units | 1,598 | $0 | 1,598 | https://www.sec.gov/Archives/edgar/data/1050743/000120919123020301/0001209191-23-020301-index.htm |
| 2023-11-06 | 2023-11-08 | Gift | Common Stock | -1,400 | $0 | 107,751.692 | https://www.sec.gov/Archives/edgar/data/1050743/000120919123054717/0001209191-23-054717-index.htm |
| 2024-01-30 | 2024-01-30 | Gift | Common Stock | -1,200 | $0 | 106,551.692 | https://www.sec.gov/Archives/edgar/data/1050743/000095017024008841/0000950170-24-008841-index.htm |
| 2024-03-20 | 2024-03-22 | Award (Phantom) | Phantom Stock | 2,069 | $0 | 2,069 | https://www.sec.gov/Archives/edgar/data/1050743/000095017024035063/0000950170-24-035063-index.htm |
| 2025-03-20 | 2025-03-21 | Award (RSUs) | Restricted Stock Units | 1,675 | $0 | 1,675 | https://www.sec.gov/Archives/edgar/data/1050743/000095017025043235/0000950170-25-043235-index.htm |
Governance Assessment
- Board effectiveness: Consi’s deep accounting and finance background and Audit Committee financial expert status strengthen financial oversight; his participation across Audit, Compensation, and Risk committees aligns with core governance needs.
- Independence & conflicts: Only immaterial “Deposits” relationship disclosed; related-party transactions are on market terms and assessed as non-problematic by management; hedging and pledging are prohibited—reducing alignment risk.
- Engagement: Board/committee meeting cadence is robust; directors met minimum attendance thresholds; independent director executive sessions occur at least semi-annually.
- Director compensation: Mix of cash fees and time-based phantom stock grants; no performance-linked director equity; grants are modest and subject to plan governance limits for non-employee directors.
- Investor sentiment: Say-on-pay (executive) support at 87% in 2024, suggesting broader governance acceptance, though not specific to directors.
RED FLAGS: None identified specific to Consi. No pledging, no hedging, no loans disclosed beyond standard customer relationships; attendance threshold met; not chairing committees mitigates concentration of influence.