Form 4: Director Edward J. Haye Acquires Shares of First of Long Island Corp (FLIC) in Lieu of Fees

Edward J. Haye, a director of First of Long Island Corp, acquired 534 shares of common stock on May 17, 2024, in lieu of director fees.

Summary

• On May 17, 2024, Edward J. Haye, a director of First of Long Island Corp (FLIC), acquired 534 shares of common stock.
• The acquisition was made in lieu of director fees.
• Following the transaction, Haye directly owns 11,937 shares of FLIC common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction of a director receiving stock in lieu of fees. It doesn't indicate any major positive or negative development for the company.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Industry Context

Directors receiving stock in lieu of fees is a fairly common practice, especially in smaller banks and financial institutions. It aligns the director's interests with those of the shareholders.

Comparison to Industry Standards

• Comparing this to other small-cap bank director compensation packages, receiving stock in lieu of fees is a fairly standard practice.
• For example, directors at similar institutions like Dime Community Bancshares or Bridge Bancorp have similar arrangements.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it's a small number of shares.
• It could be viewed positively as it aligns the director's interests with those of the shareholders.

Key Dates