Form 4: ConnectOne CFO Reports Routine Stock Ownership Changes
Insider Transaction Report
ConnectOne Bancorp's Senior EVP & CFO, William S. Burns, reported changes in his beneficial ownership due to shares withheld for tax purposes from vested deferred stock units.
Summary
- William S. Burns, Senior EVP & CFO of ConnectOne Bancorp, Inc. (CNOB), filed a Form 4 statement regarding changes in his beneficial ownership.
- The filing reports the disposition of common stock shares due to tax withholdings upon the vesting of deferred stock units.
- On March 20, 2026, 2,211 shares were withheld at a price of $25.95, related to a grant dated March 20, 2023.
- Also on March 20, 2026, an additional 1,418 shares were withheld at a price of $25.95, related to a grant dated March 20, 2025.
- On March 23, 2026, 1,288 shares were withheld at a price of $26.72, related to a grant dated March 22, 2024.
- Following these transactions, William S. Burns beneficially owns 123,441 shares of ConnectOne Bancorp common stock directly.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral. It reports routine, non-discretionary transactions related to executive compensation and tax obligations, with no impact on the company's operational or financial outlook.
Industry Context
StockSavvy.ai notes that Form 4 filings are routine disclosures for executive stock transactions, particularly those involving tax withholdings upon the vesting of equity awards, and do not typically reflect strategic shifts or operational performance.
Key Dates
| Date | Description |
|---|---|
| 03/20/2023 | Date of grant for deferred stock units, which vested on March 20, 2026. |
| 03/22/2024 | Date of grant for deferred stock units, which vested on March 22, 2026 (reported on March 23, 2026). |
| 03/20/2025 | Date of grant for deferred stock units, which vested on March 20, 2026. |
| 03/20/2026 | Transaction date for shares withheld for taxes upon vesting of deferred stock units from grants dated March 20, 2023, and March 20, 2025. |
| 03/23/2026 | Transaction date for shares withheld for taxes upon vesting of deferred stock units from a grant dated March 22, 2024 (first business day following vesting date). |
| 03/24/2026 | Signature date of the Form 4 filing. |
Recommendation
holdThis Form 4 filing details routine tax-related share withholdings upon the vesting of deferred stock units for an executive. It does not provide any new information regarding the company's financial performance, strategic direction, or operational health that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as the filing is neutral in its implications for the stock's fundamental value.
Keywords
ConnectOne Bancorp, CNOB, Form 4, Insider Transaction, Beneficial Ownership, Executive Compensation, Stock Units, Tax Withholding
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.