4/A: First of Long Island Corp Director Amends Ownership Disclosure After Error

J. Abbott R. Cooper, a director at First of Long Island Corp, files an amended Form 4 to correct the number of shares beneficially owned after an error in the original filing.

Summary

• J. Abbott R. Cooper, a director of First of Long Island Corp (FSTR), filed an amended Form 4 with the SEC on March 1, 2024, to correct a previous filing from February 14, 2024.
• The amendment addresses an error in the number of shares reported as beneficially owned.
• The original filing inadvertently included shares held in separately managed accounts (SMAs) that Mr. Cooper ceased to beneficially own on August 8, 2023, due to the termination of a relationship between Driver Management Company LLC and the SMAs.
• The corrected filing indicates that Mr. Cooper directly disposed of 50,014 shares of Common Stock on February 12, 2024, at a price of $11.3647 per share.
• Following the transaction, Mr. Cooper directly owns 309 shares and indirectly owns 166,633 shares through Driver Opportunity Partners I LP.
• Mr. Cooper disclaims beneficial ownership of shares owned by Driver LP except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previous filing. While the initial error is a slight negative, the prompt correction is a positive. Overall, the sentiment is neutral.

Negatives

• The original Form 4 filing contained an error, requiring an amendment.

Risks

• Errors in SEC filings can lead to scrutiny and potential regulatory issues.

Management Comments

• Mr. Cooper disclaims beneficial ownership of any Shares owned by Driver LP except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency in the market.

Stakeholder Impact

• The correction of the filing ensures accurate information is available to shareholders.

Key Dates