CNOB Director Buys 7,700 Shares at ~$22, Signals Confidence

Rhea-AI Filing Summary

ConnectOne Bancorp (CNOB) Form 4: On 08/01/2025 director Stephen T. Boswell acquired a total of 7,700 common shares in two open-market purchases: 1,500 shares bought directly at $22.25 and 6,200 shares bought indirectly via an irrevocable family trust at $22.235. The transactions cost roughly $172k.

Post-purchase, Boswell’s holdings rise to 77,674.455 shares held directly and 280,466.733 shares held indirectly. No shares were sold and no derivative activity was reported.

Insider buying—especially by a board member—can signal confidence in future performance and strengthens alignment with shareholders, although the amount represents a modest addition relative to his existing stake.

Positive

• Director purchased 7,700 shares on the open market, indicating personal confidence in CNOB’s prospects.
• Post-transaction holdings of ~358k shares align board member’s financial interests with shareholders.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director adds $172k in stock, signaling incremental confidence.

The direct and trust purchases increase Boswell’s exposure by about 3% of his previously reported direct/indirect holdings. Open-market buys—rather than option exercises—suggest perceived undervaluation around the $22 level, roughly where CNOB traded recently. While the dollar size is not large versus the bank’s $870 m market cap, recurring insider accumulation supports a bullish sentiment and may provide a marginal upward catalyst for valuation multiples.

Corporate Governance Expert

TL;DR: Transaction aligns board and shareholder interests; no red flags.

Boswell, a long-standing director, opted for transparent open-market purchases and properly disclosed indirect trust ownership. The absence of sales and lack of 10b5-1 plan box checked imply discretionary buying. Such activity typically enhances governance perception, though investors should monitor for pattern consistency to confirm commitment.

Insider Trade Summary

Net Buyer: 7,700 shares

Net Buy 2 txns

Insider Boswell Stephen T.

Role Director

Bought 7,700 shs ($171K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,500	$22.25	$33K
Purchase	Common Stock	6,200	$22.235	$138K

Holdings After Transaction: Common Stock — 77,674.455 shares (Direct); Common Stock — 280,466.733 shares (Indirect, See Footnote 1)

Footnotes (1)

1. F1. Held by an irrevocable trust for benefit of his spouse and descendants (of which the reporting person's spouse, adult daughter and unrelated third person are trustees).

FAQ

How many CNOB shares did Stephen T. Boswell buy on 08/01/2025?

He bought 7,700 common shares—1,500 directly and 6,200 through a trust.

At what price were the CNOB shares purchased?

The direct purchase was at $22.25 per share, and the trust purchase was at $22.235.

What are Boswell’s total CNOB holdings after the transaction?

He now owns 77,674.455 shares directly and 280,466.733 shares indirectly.

Did the Form 4 report any share sales or derivative exercises?

No, the filing lists only open-market purchases; no sales or derivative activity were disclosed.

Why is insider buying of CNOB considered positive?

Open-market insider purchases often signal that management believes the stock is undervalued and can boost investor confidence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/05/2025 - 02:11 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Boswell Stephen T.

(Last) (First) (Middle)

CONNECTONE BANCORP, INC.

301 SYLVAN AVENUE

(Street)

ENGLEWOOD CLIFFS NJ 07632

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ConnectOne Bancorp, Inc. [ CNOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/01/2025		P		1,500	A	$22.25	77,674.455	D
Common Stock	08/01/2025		P		6,200	A	$22.235	280,466.733	I	See Footnote 1(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Held by an irrevocable trust for benefit of his spouse and descendants (of which the reporting person's spouse, adult daughter and unrelated third person are trustees).

	/s/ Laura Criscione, POA	08/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.