Form 4: First of Long Island Corp Executive Exercises Stock Options and Disposes of Shares
SEC Form 4 Filing
Michael J. Spolarich, EVP and Chief Credit Officer of First of Long Island Corp, reports exercising stock options and disposing of shares to cover taxes.
Summary
- On April 14, 2025, Michael J. Spolarich, the EVP and Chief Credit Officer of First of Long Island Corp (FLIC), exercised 500 restricted stock units.
- Following the exercise, Spolarich disposed of 197 shares of common stock at a price of $10.62 to satisfy tax obligations.
- After these transactions, Spolarich beneficially owns 10,339 shares of FLIC common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects routine executive compensation activities.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates standard stock option exercises and tax-related disposals, common practices among corporate executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine executive compensation activity.
Key Dates
| Date | Description |
|---|---|
| April 13, 2021 | Beginning date of the five equal annual installments for the vesting of restricted stock units. |
| April 14, 2025 | Date of transaction: exercise of restricted stock units and disposal of shares. |
Keywords
Form 4, FLIC, First of Long Island Corp, Michael J. Spolarich, Executive Compensation, Stock Options, Beneficial Ownership, Insider Trading
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