Form 4: ConnectOne Bancorp CEO Frank Sorrentino III Reports Stock Disposals for Tax Withholding
SEC Form 4
Frank Sorrentino III, Chairman & CEO of ConnectOne Bancorp, reported disposing of shares to cover tax obligations related to vested deferred stock units.
Summary
- On March 22, 2025, Frank Sorrentino III, Chairman & CEO of ConnectOne Bancorp, disposed of 5,752 shares of common stock at a price of $23.55 to cover tax withholding related to vested deferred stock units.
- Following this transaction, Sorrentino directly owns 604,623 shares of ConnectOne Bancorp.
- On March 25, 2025, Sorrentino disposed of 4,527 shares of common stock at a price of $23.73 for tax withholding related to vested deferred stock units.
- Following this transaction, Sorrentino directly owns 600,096 shares of ConnectOne Bancorp.
- Sorrentino also indirectly owns 416 shares through an IRA for his spouse and 263,773 shares held in a trust for the benefit of his spouse, where his spouse is a trustee.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions are related to tax obligations, which are a normal part of executive compensation. There is no indication of positive or negative sentiment regarding the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Date of grant of deferred stock units related to the March 22, 2025 vesting. |
| 03/25/2022 | Date of grant of deferred stock units related to the March 25, 2025 vesting. |
| 03/22/2025 | Transaction date: Disposal of 5,752 shares for tax withholding. |
| 03/25/2025 | Transaction date: Disposal of 4,527 shares for tax withholding. |
| 03/26/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, ConnectOne Bancorp, CNOB, Frank Sorrentino III, Stock Disposal, Tax Withholding, Deferred Stock Units, Beneficial Ownership, Insider Trading
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