Form 4: ConnectOne Bancorp EVP Michael O'Malley Reports Stock Disposals for Tax Withholding
SEC Form 4 Filing
EVP and Chief Risk Officer of ConnectOne Bancorp, Michael O'Malley, reported disposals of common stock to cover tax obligations related to vested deferred stock units.
Summary
- Michael O'Malley, EVP & Chief Risk Officer of ConnectOne Bancorp, Inc., filed a Form 4.
- The form reports the disposal of 580 shares of common stock on March 22, 2025, at a price of $23.55, and 467 shares on March 25, 2025, at a price of $23.73.
- These disposals were to cover tax withholding requirements related to the vesting of deferred stock units.
- Following these transactions, O'Malley beneficially owns 12,271 shares of ConnectOne Bancorp, Inc.
- The vesting date of March 22, 2025 occurred on a Saturday, so the price of the shares was calculated based on the closing price on March 21, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes. It doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates stock disposals to cover tax obligations, which is a common practice.
Comparison to Industry Standards
- Similar to other executives in publicly traded companies, O'Malley's stock transactions are subject to SEC regulations and reporting requirements.
- Tax withholding practices related to stock vesting are standard across the industry.
- The number of shares disposed of is relatively small compared to the total shares beneficially owned, which is typical for tax-related disposals.
Stakeholder Impact
- The stock disposals are unlikely to have a significant impact on shareholders, as they are related to tax obligations and involve a small percentage of O'Malley's holdings.
- The transactions do not directly affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Grant of deferred stock units related to the March 22, 2025 vesting. |
| 03/25/2022 | Grant of deferred stock units related to the March 25, 2025 vesting. |
| 03/21/2025 | Closing price used for tax withholding calculation due to vesting date falling on a Saturday. |
| 03/22/2025 | Vesting date of deferred stock units; disposal of 580 shares for tax withholding at $23.55. |
| 03/25/2025 | Disposal of 467 shares for tax withholding at $23.73. |
| 03/26/2025 | Date of Form 4 filing. |
Keywords
Form 4, ConnectOne Bancorp, CNOB, Michael O'Malley, Stock Disposal, Tax Withholding, Deferred Stock Units, Beneficial Ownership
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