Form 4: ConnectOne Bancorp Executive Reports Stock Transactions
SEC Form 4 Filing
William S. Burns, Senior EVP & CFO of ConnectOne Bancorp, reports acquisition and disposal of company stock related to vesting of deferred stock units and earned performance units.
Summary
- William S. Burns, the Senior EVP & CFO of ConnectOne Bancorp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On March 20, 2024, 2,212 shares were disposed of to cover tax withholding related to deferred stock units that vested on the same day, with a price of $19.57.
- On March 22, 2024, Mr. Burns acquired 7,667 shares related to earned performance units granted on March 22, 2021, at a price of $0.
- Also on March 22, 2024, 3,833 shares were disposed of to cover tax withholding on the performance units, with a price of $19.01.
- Following these transactions, Mr. Burns beneficially owns 115,880 shares of ConnectOne Bancorp.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are related to compensation and tax obligations, not necessarily indicative of a positive or negative outlook.
Positives
- The acquisition of 7,667 shares indicates vesting of performance units, suggesting achievement of performance goals.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the trading activities of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/22/2021 | Date of grant for earned performance units. |
| 03/20/2023 | Date of grant for deferred stock units. |
| 03/20/2024 | Tax withholding on vested deferred stock units. |
| 03/22/2024 | Acquisition of shares from earned performance units and tax withholding. |
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