Form 4: ConnectOne Bancorp EVP Reports Stock Transaction

ConnectOne Bancorp's EVP & General Counsel, Robert Allan Schwartz, reported shares withheld for taxes upon deferred stock unit vesting and additional shares from a dividend reinvestment plan.

Summary

• Robert Allan Schwartz, EVP & General Counsel of ConnectOne Bancorp, Inc. (CNOB), reported a transaction on March 20, 2026.
• 186 shares of common stock were withheld for taxes at a price of $25.95 per share.
• This withholding was due to the vesting of deferred stock units granted on June 12, 2025.
• A clerical error in a previous Form 4 filed on June 12, 2025, incorrectly stated the vesting date as March 19, 2026; the correct vesting date is March 20, 2026.
• An additional 109.55 shares were acquired under a dividend reinvestment plan.
• Following these transactions, Robert Allan Schwartz beneficially owns 41,703.83 shares of ConnectOne Bancorp, Inc. common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a standard compensation-related transaction for an executive, with no significant positive or negative implications for the company's operational or financial performance.

Positives

• Acquisition of 109.55 shares through a dividend reinvestment plan indicates continued investment in the company by an executive.

Negatives

• 186 shares were disposed of (withheld) to cover tax obligations upon the vesting of deferred stock units.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures of insider transactions, providing transparency into executive stock ownership changes, which is standard practice across the banking industry. This filing reflects a common compensation event for executives.

Comparison to Industry Standards

• Form 4 filings are standard regulatory disclosures for insider transactions across all publicly traded companies, not specific to banking industry performance benchmarks. The nature of the transaction (shares withheld for taxes upon vesting) is a common mechanism for executive compensation in publicly traded companies, aligning with general industry practices for equity awards.

Related Party Transactions

• The transaction involves the vesting of deferred stock units and subsequent tax withholding, which is a standard compensation arrangement between an executive and the company.

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine executive compensation transaction and a minor adjustment to an executive's beneficial ownership.

Key Dates

Recommendation

This Form 4 details a routine executive compensation event involving shares withheld for taxes and dividend reinvestment. It does not provide new material information that would alter the fundamental investment thesis for ConnectOne Bancorp, Inc., thus a 'hold' recommendation is appropriate.

Keywords

ConnectOne Bancorp, CNOB, Form 4, insider transaction, stock vesting, deferred stock units, dividend reinvestment, executive compensation