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

Director Edward J. Haye acquired 406 shares of First of Long Island Corp common stock as compensation for director fees.

Summary

• Director Edward J. Haye acquired 406 shares of First of Long Island Corp common stock on January 17, 2025.
• These shares were received in lieu of director fees.
• Following this transaction, Mr. Haye directly owns 15,350 shares of the company's common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, which is neither particularly positive nor negative. The acquisition of shares by a director is generally seen as a positive sign of alignment 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 disclosure of a director's stock acquisition, which is common practice for publicly traded companies. It reflects a standard method of compensating board members.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across the financial industry.
• Many financial institutions use a combination of cash and stock 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 stock acquisition by a director may be viewed positively by shareholders as it aligns director interests with company performance.

Key Dates

Keywords

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