Form 4: Director Eric Tveter Disposes of All First of Long Island Corp Shares Following Merger with ConnectOne Bancorp

First of Long Island Corp Director Eric Tveter has reported the disposition of all 27,815 shares of FLIC common stock, converting them into ConnectOne Bancorp, Inc. shares as part of the September 2024 merger agreement.

Summary

• Eric Tveter, a Director of First of Long Island Corp (FLIC), reported a change in beneficial ownership.
• On June 1, 2025, Mr. Tveter disposed of 27,815 shares of FLIC common stock.
• Following this transaction, Mr. Tveter beneficially owns 0 shares of FLIC common stock.
• This disposition was a direct result of the Agreement and Plan of Merger, dated September 4, 2024, between First of Long Island Corp and ConnectOne Bancorp, Inc.
• Under the merger terms, each outstanding share of FLIC common stock was converted into the right to receive 0.5175 shares of ConnectOne Bancorp, Inc. common stock, with cash paid in lieu of fractional shares.
• The transaction was executed pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The document is a routine Form 4 filing reporting a mandatory share disposition by a director due to a completed merger. It confirms the execution of a previously announced strategic event, which is generally positive for corporate strategy, but does not contain new financial or operational information.

Positives

• Completion of the merger with ConnectOne Bancorp, Inc. signifies the successful execution of a strategic corporate action for First of Long Island Corp.

Future Outlook

NA

Industry Context

The reported transaction is a direct consequence of a merger, indicating a trend of consolidation within the banking or financial services sector, where regional banks often merge to achieve greater scale, market share, or operational efficiencies.

Management Changes

Stakeholder Impact

• Shareholders: First of Long Island Corp shareholders have had their shares converted into ConnectOne Bancorp, Inc. shares, impacting their future investment vehicle.
• Management/Directors: Eric Tveter, as a former director of FLIC, has completed the conversion of his holdings as per the merger agreement.

Next Steps

• Eric Tveter's beneficial ownership is now in ConnectOne Bancorp, Inc. shares, subject to future reporting requirements for that entity.
• First of Long Island Corp shareholders would now hold ConnectOne Bancorp, Inc. shares.

Key Dates

Keywords

SEC Form 4, First of Long Island Corp, FLIC, ConnectOne Bancorp, Merger, Stock Conversion, Beneficial Ownership, Director, Eric Tveter, Insider Transaction, Rule 10b5-1