Form 4: ConnectOne Bancorp EVP Reports Stock Withholding for Taxes

ConnectOne Bancorp's EVP & Chief Credit Officer, Joseph T. Javitz, reported the disposition of shares withheld for tax obligations related to deferred stock unit vestings.

Summary

• Joseph T. Javitz, EVP & Chief Credit Officer of ConnectOne Bancorp, Inc. (CNOB), reported changes in his beneficial ownership.
• On March 20, 2026, 722 shares of common stock were disposed of at $25.95 per share, withheld for taxes upon the vesting of deferred stock units granted on March 20, 2023.
• Also on March 20, 2026, an additional 461 shares of common stock were disposed of at $25.95 per share, withheld for taxes upon the vesting of deferred stock units granted on March 20, 2025.
• On March 23, 2026, 466 shares of common stock were disposed of at $26.72 per share, withheld for taxes upon the vesting of deferred stock units granted on March 22, 2024.
• Following these transactions, Joseph T. Javitz beneficially owns 19,496.78 shares of ConnectOne Bancorp common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting routine executive compensation administration rather than a strategic move or a signal of company performance.

Future Outlook

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

Industry Context

StockSavvy.ai notes that Form 4 filings detailing tax-related dispositions upon equity vesting are common and routine for executives in publicly traded companies across all industries, including the financial services sector. These transactions typically do not reflect a change in management's confidence in the company's future but rather a standard mechanism for covering tax liabilities on vested equity compensation.

Comparison to Industry Standards

• The practice of withholding shares for tax purposes upon the vesting of deferred stock units is a standard industry practice for executive compensation, aligning with common practices seen at peer financial institutions like Provident Financial Services (PFS) or Lakeland Bancorp (LBAI).
• The reported share prices of $25.95 and $26.72 are specific to ConnectOne Bancorp's stock performance around the vesting dates and are not directly comparable to specific projects or results of other companies without broader market context.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine compensation-related transactions and do not indicate a change in company fundamentals or strategy.
• Employees: No direct impact beyond the reporting person.

Key Dates

Recommendation

This Form 4 filing details routine tax-related dispositions of shares by an executive upon the vesting of deferred stock units. Such transactions are standard practice for executive compensation and do not typically signal a change in the company's operational performance, financial health, or management's outlook. Therefore, it provides no new information to warrant a change in investment recommendation, suggesting a 'hold' position is appropriate based solely on this filing.

Keywords

ConnectOne Bancorp, CNOB, Joseph T. Javitz, Form 4, Insider Trading, Stock Vesting, Tax Withholding, Deferred Stock Units, Executive Compensation, Financial Services, Banking