Form 4: ConnectOne Bancorp Director's Routine Stock Vesting Tax Withholding

ConnectOne Bancorp Director Elizabeth Magennis reported the routine withholding of common stock for tax obligations related to deferred stock unit vesting.

Summary

• Elizabeth Magennis, a Director and Bank President of ConnectOne Bancorp, Inc. (CNOB), reported changes in her beneficial ownership of common stock.
• The transactions involved the disposition of shares to cover tax liabilities upon the vesting of deferred stock units.
• On March 20, 2026, 2,379 shares were withheld at a price of $25.95, related to a grant dated March 20, 2023.
• Also on March 20, 2026, an additional 1,604 shares were withheld at a price of $25.95, related to a grant dated March 20, 2025.
• On March 23, 2026, 1,385 shares were withheld at a price of $26.72, related to a grant dated March 22, 2024. This date was the first business day following the March 22, 2026 vesting date.
• Following these reported transactions, Magennis beneficially owned 128,867 shares of ConnectOne Bancorp common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it is a standard administrative filing for insider compensation and does not indicate any new operational or financial developments for ConnectOne Bancorp.

Industry Context

StockSavvy.ai notes that this Form 4 filing details a routine insider transaction involving the disposition of shares to cover tax obligations upon the vesting of deferred stock units. Such transactions are common for executives and directors receiving equity compensation and typically do not reflect a change in the company's operational performance or strategic direction.

Stakeholder Impact

• Minimal direct impact on shareholders as these are routine tax-related transactions and do not signal a change in company fundamentals or strategy.
• Impacts the reporting person's beneficial ownership of common stock, reducing it by the number of shares withheld for taxes.

Key Dates

Recommendation

This Form 4 reports routine tax-related dispositions of shares upon vesting of deferred stock units by an insider. It does not provide new fundamental information about ConnectOne Bancorp's performance or outlook that would warrant a change in investment recommendation. Investors should continue to evaluate the company based on its financial results and strategic initiatives.

Keywords

ConnectOne Bancorp, CNOB, Form 4, Insider Transaction, Stock Vesting, Tax Withholding, Elizabeth Magennis, Beneficial Ownership