Form 4: ConnectOne Bancorp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
William S. Burns, Senior EVP & CFO of ConnectOne Bancorp, Inc., disposed of shares to cover tax withholding obligations related to vested deferred stock units.
Summary
- William S. Burns, the Senior EVP & CFO of ConnectOne Bancorp, Inc., reported the disposal of shares to cover tax obligations.
- On March 22, 2025, 1,288 shares of common stock were disposed of at a price of $23.55 to cover tax withholding related to deferred stock units vesting on the same day.
- These units were initially granted on March 22, 2024.
- Additionally, on March 25, 2025, 1,063 shares were disposed of at $23.73 to cover tax withholding related to shares vested on March 25, 2025, pursuant to a grant of deferred stock units on March 25, 2022.
- Following these transactions, Burns directly owns 128,358 shares of ConnectOne Bancorp, Inc.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Executive share disposals for tax obligations are a common occurrence, particularly after vesting of stock options or restricted stock units. This is a normal part of executive compensation and financial planning.
Stakeholder Impact
- The share disposals are unlikely to have a significant impact on shareholders, as they are related to tax obligations and represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/25/2022 | Grant date of deferred stock units related to tax withholding on March 25, 2025. |
| 03/22/2024 | Grant date of deferred stock units related to tax withholding on March 22, 2025. |
| 03/21/2025 | Closing price used to calculate tax withholding for shares vested on March 22, 2025. |
| 03/22/2025 | Vesting date of deferred stock units and disposal of 1,288 shares for tax withholding. |
| 03/25/2025 | Vesting date of deferred stock units and disposal of 1,063 shares for tax withholding. |
| 03/26/2025 | Date of Form 4 filing. |
Keywords
Form 4, ConnectOne Bancorp, CNOB, William S. Burns, Tax Withholding, Share Disposal, Deferred Stock Units, Executive Compensation
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