Form 4: First of Long Island Corp Executive Converts Shares Following ConnectOne Bancorp Merger

A recent SEC Form 4 filing reveals that Tanweer Sheikh Ansari, EVP and General Counsel of First of Long Island Corp, disposed of all his common stock holdings as a result of the previously announced merger with ConnectOne Bancorp, Inc.

Summary

• Tanweer Sheikh Ansari, Executive Vice President and General Counsel of First of Long Island Corp (FLIC), reported a disposition of 11,756 shares of FLIC common stock.
• The transaction occurred on June 1, 2025, and resulted in Mr. Ansari holding 0 shares of FLIC common stock.
• This disposition was a direct consequence of the Agreement and Plan of Merger, dated September 4, 2024, between FLIC 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.

Sentiment

Score: 6

Explanation: The document is a factual report of an insider transaction resulting from a merger. While the transaction itself is neutral, the underlying merger is typically presented as a strategic positive for the companies involved, leading to a slightly positive sentiment.

Positives

• The reporting person now holds shares in ConnectOne Bancorp, Inc., the acquiring entity, aligning their interests with the combined company's future performance.

Negatives

• The reporting person no longer holds direct equity in First of Long Island Corp, as the company's shares were converted as part of the merger.

Future Outlook

The document indicates the completion or near completion of the merger between First of Long Island Corp and ConnectOne Bancorp, Inc., leading to the conversion of FLIC shares into CNOB shares.

Industry Context

This transaction reflects ongoing consolidation within the banking sector, where smaller regional banks are acquired by larger entities to achieve scale, expand market reach, and potentially realize cost synergies.

Stakeholder Impact

• Shareholders of First of Long Island Corp had their common stock converted into shares of ConnectOne Bancorp, Inc., altering their equity holdings and future investment exposure.

Key Dates

Keywords

SEC Form 4, Insider Transaction, Merger, Stock Conversion, First of Long Island Corp, FLIC, ConnectOne Bancorp Inc, CNOB, Beneficial Ownership, Executive Compensation