Form 4: ConnectOne Bancorp Executive Reports Stock Transactions
SEC Form 4 Filing
Elizabeth Magennis, EVP & Bank President of ConnectOne Bancorp, reports acquisition and disposal of company stock related to vested deferred stock units and earned performance units.
Summary
- On March 20, 2024, Elizabeth Magennis disposed of 2,379 shares of ConnectOne Bancorp common stock at a price of $19.57 due to tax withholding related to vested deferred stock units.
- On March 22, 2024, she acquired 8,024 shares of common stock at $0 pursuant to earned performance units granted on March 22, 2021.
- Also on March 22, 2024, she disposed of 4,012 shares at $19.01 for tax withholding related to the acquired performance units.
- Following these transactions, Magennis directly owns 120,306 shares of ConnectOne Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The acquisition of 8,024 shares indicates that performance targets were met, resulting in the vesting of performance units.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into insider transactions, allowing investors to monitor the buying and selling activity of company executives and directors.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/22/2021 | Date of grant of performance units. |
| 03/20/2023 | Date of grant of deferred stock units. |
| 03/20/2024 | Tax withholding on shares vested pursuant to deferred stock units. |
| 03/22/2024 | Acquisition of shares pursuant to earned performance units and related tax withholding. |
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