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

A recent SEC Form 4 filing reveals that Edward J. Haye, a Director of First of Long Island Corp., has disposed of all his common stock holdings in the company following its merger with ConnectOne Bancorp, Inc.

Summary

• Edward J. Haye, a Director of First of Long Island Corp. (FLIC), reported the disposition of 22,454 shares of FLIC common stock.
• The transaction occurred on June 1, 2025, and resulted in Mr. Haye holding 0 shares of FLIC common stock directly.
• 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: 5

Explanation: The document is a routine post-merger insider transaction filing, indicating a procedural change in share ownership rather than new operational or financial performance information. Its sentiment is neutral as it simply reports a factual event.

Future Outlook

The document indicates the completion of the merger, meaning First of Long Island Corp. no longer operates as an independent entity, with its shares converted into ConnectOne Bancorp, Inc. stock.

Industry Context

This transaction reflects the ongoing consolidation trend within the banking sector, where smaller regional banks are often acquired by larger institutions to achieve economies of scale, expand market reach, and enhance competitive positioning.

Stakeholder Impact

• Shareholders of First of Long Island Corp. have had their shares converted into ConnectOne Bancorp, Inc. common stock, effectively making them shareholders of the acquiring entity.

Key Dates

Keywords

First of Long Island Corp, FLIC, ConnectOne Bancorp Inc, Merger, Acquisition, Insider Transaction, Form 4, Common Stock, Edward J. Haye