Magennis Elizabeth 4

What Happened Elizabeth Magennis, Bank President and a director of ConnectOne Bancorp (CNOB), had a total of 5,368 shares withheld to satisfy tax withholding obligations upon the vesting of deferred stock units. The withholdings occurred in three disposals: 2,379 shares at $25.95 each ($61,735) and 1,604 shares at $25.95 each ($41,624) on March 20, 2026, and 1,385 shares at $26.72 each ($37,007) on March 23, 2026. These transactions are tax-withholding "F" dispositions (i.e., shares were surrendered to cover taxes), not open-market sales or purchases.

Key Details

• Transaction dates & amounts:
  • 2026-03-20: 2,379 shares withheld at $25.95 — $61,735 (Footnote F1)
  • 2026-03-20: 1,604 shares withheld at $25.95 — $41,624 (Footnote F2)
  • 2026-03-23: 1,385 shares withheld at $26.72 — $37,007 (Footnote F3)
• Total shares withheld: 5,368; total value ≈ $140,366.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1, F2, F3 indicate these were shares withheld for taxes upon vesting of deferred stock units from grants dated March 20, 2023 (F1), March 20, 2025 (F2), and March 22, 2024 (F3). The March 23 withholding reflects the first business day after a Sunday vesting date.
• Filing timeliness: Form 4 was filed March 24, 2026; the filing does not indicate a late report.

Context These were routine tax-withholding (sell-to-cover) transactions tied to the vesting of deferred stock units — effectively shares surrendered to meet tax obligations. Such withholdings are common and do not necessarily indicate a change in the insider’s view of the company. They differ from open-market sales (which can signal liquidity or sentiment) and from purchases (which are more directly bullish).