Form 4: ConnectOne Bancorp Director Peter Quick Receives Restricted Stock Grant

ConnectOne Bancorp, Inc. Director Peter Quick was granted 2,613 shares of restricted common stock, vesting in May 2026, as reported in a recent SEC Form 4 filing.

Summary

• Peter Quick, a Director of ConnectOne Bancorp, Inc. (CNOB), acquired 2,613 shares of common stock.
• The transaction occurred on June 2, 2025.
• The shares were acquired at a price of $0, indicating a grant rather than a cash purchase.
• This grant represents restricted stock subject to forfeiture, which will vest in full on May 2, 2026.
• Following this transaction, Peter Quick's total beneficial ownership of ConnectOne Bancorp common stock is 30,607 shares held directly, 7,762 shares held indirectly through an LLC, and 258 shares held indirectly through a Trust.

Sentiment

Score: 7

Explanation: The filing reports a routine grant of restricted stock to a director, which is a common form of compensation designed to align the director's interests with long-term shareholder value. It does not contain any negative or significantly positive operational or financial news, thus indicating a neutral to slightly positive sentiment due to the alignment of interests.

Positives

• Director Peter Quick received a grant of 2,613 shares of restricted stock, which aligns his interests with long-term shareholder value.
• The grant vests in full on May 2, 2026, indicating a commitment to retention and future performance of the director.

Risks

• The restricted stock grant is subject to forfeiture, meaning the shares could be lost if vesting conditions are not met, specifically if the director's service ends before May 2, 2026.

Future Outlook

The restricted stock grant is set to vest in full on May 2, 2026, indicating a future milestone for the shares to become fully owned by the director.

Industry Context

This filing is a standard insider transaction report (Form 4) for a director receiving equity compensation, which is a common practice across various industries, including the banking sector. It reflects a typical method for companies to align the interests of their executives and directors with those of their shareholders.

Comparison to Industry Standards

• Form 4 filings are standard regulatory disclosures for insider transactions across all publicly traded companies in the U.S.
• The grant of restricted stock to a director is a common form of equity compensation, comparable to practices at other financial institutions like JPMorgan Chase & Co. (JPM) or Bank of America Corp. (BAC), which also utilize restricted stock units (RSUs) or similar equity awards for their executives and directors to incentivize long-term performance and retention.

Stakeholder Impact

• Shareholders: The grant of restricted stock to a director aligns management's interests with shareholder value creation over the long term, as the shares vest based on future service.

Next Steps

• The restricted stock grant will vest in full on May 2, 2026, at which point the shares will no longer be subject to forfeiture.

Key Dates

Keywords

ConnectOne Bancorp, CNOB, Peter Quick, SEC Form 4, restricted stock, stock grant, director compensation, beneficial ownership, insider transaction