Form 4: Director Edward J. Haye Acquires Shares in First of Long Island Corp Through Stock-Based Compensation

Director Edward J. Haye acquired 389 shares of First of Long Island Corp common stock as compensation for director fees.

Summary

• Director Edward J. Haye acquired 389 shares of First of Long Island Corp common stock on December 20, 2024.
• The shares were received in lieu of director fees.
• Following the transaction, Mr. Haye directly owns 14,944 shares of the company's common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of shares by a director demonstrates alignment of interests with shareholders.
• The use of stock-based compensation can conserve cash for the company.

Industry Context

This is a routine transaction related to director compensation, which is common practice in publicly traded companies.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across the financial industry.
• Many financial institutions use a mix of cash and equity to compensate board members, aligning their interests with shareholders.
• The amount of stock granted is typical for director compensation at a company of this size.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.
• The use of stock-based compensation can be seen as a positive for the company's cash flow.

Key Dates

Keywords

stock acquisition, director compensation, insider trading, Form 4, First of Long Island Corp, FLIC, equity