Form 4: First of Long Island Corp Executive Exercises Stock Options and Receives Restricted Stock Units

Tanweer Sheikh Ansari, EVP and General Counsel at First of Long Island Corp, exercised stock options and received restricted stock units on December 19, 2024, resulting in changes to his beneficial ownership.

Summary

• Tanweer Sheikh Ansari, an executive at First of Long Island Corp, engaged in multiple transactions involving the company's stock on December 19, 2024.
• These transactions included the exercise of stock options, resulting in the acquisition of 1,993, 2,766, and 4,745 shares of common stock at a price of $0 per share.
• Additionally, Mr. Ansari received 4,744 shares of common stock and disposed of 6,298 shares at $12.48 per share to cover tax obligations.
• The transactions also involved the vesting of restricted stock units, with 1,993, 2,766, and 4,745 units vesting on the same date.
• Following these transactions, Mr. Ansari's direct ownership of common stock stands at 10,741 shares.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative sentiment. The transactions are routine and expected.

Positives

• The vesting of restricted stock units and exercise of stock options indicates a positive incentive structure for the executive.
• The transactions show the executive's continued investment in the company's stock.

Negatives

• The disposal of 6,298 shares, while likely for tax purposes, could be perceived as a slight negative signal.

Risks

• There are no significant risks identified in this document, as it primarily details routine stock transactions by an executive.

Industry Context

This type of filing is common for publicly traded companies and reflects standard executive compensation practices.

Comparison to Industry Standards

• Stock option exercises and restricted stock unit grants are standard forms of executive compensation in the financial services industry.
• Similar transactions are regularly reported by executives at comparable regional banks and financial institutions.
• The vesting schedules and exercise prices are likely aligned with industry norms for executive compensation packages.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
• The transactions do not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

stock options, restricted stock units, beneficial ownership, insider trading, executive compensation, common stock, First of Long Island Corp, FLIC