Form 4: ConnectOne Bancorp EVP Michael O'Malley Reports Stock Transactions

EVP and Chief Risk Officer of ConnectOne Bancorp, Michael O'Malley, reports acquisition of deferred stock units and disposition of shares for tax withholding.

Summary

• Michael O'Malley, EVP & Chief Risk Officer of ConnectOne Bancorp, reported transactions involving ConnectOne Bancorp, Inc. [CNOB] common stock.
• On March 22, 2024, O'Malley acquired 3,480 shares of common stock through a grant of deferred stock units.
• These deferred stock units vest over a three-year period, with 1/3 vesting on 3/22/25, 1/3 vesting on 3/22/26, and the final 1/3 vesting on 3/22/27.
• On March 25, 2024, O'Malley disposed of 467 shares of common stock at a price of $18.98 for tax withholding purposes related to shares vested on March 25, 2024, from a previous grant on March 25, 2022.
• Following these transactions, O'Malley beneficially owns 9,837 shares of ConnectOne Bancorp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to stock transactions. The grant of stock units is a positive sign for aligning management with shareholder interests, but the tax withholding is a neutral event.

Positives

• The grant of deferred stock units to a key executive like the Chief Risk Officer can be seen as a positive sign, aligning their interests with the long-term performance of the company.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Form 4 filings are a routine part of the financial industry, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices and tax obligations for executives at ConnectOne Bancorp.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates