Form 4: ConnectOne Bancorp Executive Elizabeth Magennis Reports Stock Disposals for Tax Withholding
SEC Form 4 Filing
Elizabeth Magennis, Bank President at ConnectOne Bancorp, reports disposals of common stock to cover tax obligations related to vested deferred stock units.
Summary
- On March 22, 2025, Elizabeth Magennis, Bank President of ConnectOne Bancorp, disposed of 1,385 shares of common stock at a price of $23.55 to cover tax withholding related to vested deferred stock units granted on March 22, 2024.
- The price was calculated based on the closing price on March 21, 2025, as the vesting date fell on a Saturday.
- On March 25, 2025, Magennis disposed of an additional 1,143 shares at $23.73 to cover tax withholding related to shares vested on the same day, pursuant to a grant of deferred stock units on March 25, 2022.
- Following these transactions, Magennis directly owns 134,235 shares of ConnectOne Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions for tax purposes. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership. It is common for executives to dispose of shares to cover tax obligations when stock options or restricted stock units vest.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Grant date of deferred stock units related to the March 22, 2025 transaction. |
| 03/25/2022 | Grant date of deferred stock units related to the March 25, 2025 transaction. |
| 03/21/2025 | Closing price used for tax withholding calculation due to vesting date falling on a Saturday. |
| 03/22/2025 | Date of first stock disposal for tax withholding (1,385 shares). |
| 03/25/2025 | Date of second stock disposal for tax withholding (1,143 shares). |
| 03/26/2025 | Date of Form 4 filing. |
Keywords
Form 4, ConnectOne Bancorp, CNOB, Elizabeth Magennis, Stock Disposal, Tax Withholding, Deferred Stock Units, Beneficial Ownership
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