Edward Haye
About Edward J. Haye
Edward J. Haye, age 65, was appointed an independent director of ConnectOne Bancorp, Inc. (CNOB) and ConnectOne Bank upon closing of the First of Long Island (FLIC) merger on June 1, 2025; committee assignments had not yet been made at appointment . He previously served on FLIC’s board (elected November 15, 2022), where he chaired the Risk Committee and sat on the Governance & Nominating and Loan/Asset-Liability Committees—bringing deep risk and regulatory oversight experience to CNOB . Haye holds an A.B. from Dartmouth College and a J.D. from Fordham University School of Law . ConnectOne’s press release explicitly noted that Haye had served as an independent director at FLIC prior to joining CNOB’s board .
Past Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| The First of Long Island Corporation | Director; Chair, Risk Committee; Member, Governance & Nominating; Member, Loan & Asset-Liability | Elected Nov 15, 2022 | Chaired Board Risk; contributed to governance and balance sheet risk oversight |
| Cullen and Dykman LLP | Partner | As disclosed in FLIC proxy (2024) | Regulatory and legal expertise for regulated industries |
| American Water Works Company, Inc. | Chief Regulatory Counsel (former) | Prior to FLIC board | Led corporate governance/regulated-utility regulatory matters |
External Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| Village of Sag Harbor (NY) | Board of Trustees member | As disclosed in 2022 press release | Local government engagement; community lens for governance |
| Park and Recreation Association of Sag Harbor (NY) | Director | As disclosed in 2022 press release | Community/non-profit board experience |
| Sag Harbor Union Free School District | Prior Board of Education member | Prior service | Public-sector governance experience |
Board Governance
- Appointment and status: Haye joined CNOB’s board at merger close (June 1, 2025); committee appointments were pending at that time . CNOB’s press release noted Haye’s prior service as an independent director at FLIC .
- CNOB board/committee structure and policies (context): CNOB’s key committees are Audit & Risk, Compensation, and Nominating & Corporate Governance; all were fully independent in 2024, with established charters and an SEC-designated audit committee financial expert . CNOB prohibits director/executive hedging and pledging (with limited grandfathered pledges), and has adopted a NASDAQ-compliant clawback policy . Directors are encouraged to attend meetings; in 2024 all directors met the 75%+ attendance threshold (pre-merger composition) .
Governance implications:
- Haye’s FLIC background chairing Risk and serving on ALCO/Governance should strengthen CNOB’s risk oversight and regulatory posture post-merger, especially across balance-sheet, liquidity and credit governance .
- As of appointment, no special arrangements or committee seats were disclosed for Haye; standard governance integration steps (committee seating, independence affirmations, and attendance disclosures) should appear in CNOB’s next proxy .
Fixed Compensation
CNOB non-employee director compensation framework (2024 policy; applies absent special arrangements):
| Component | Amount/Structure | Source |
|---|---|---|
| Annual cash retainer | $60,000 | |
| Equity retainer | $60,000 in restricted shares; 2024 grant of 3,219 shares per director, subject to forfeiture | |
| Committee chair fees | Audit & Risk: $25,000; Compensation: $13,500; Nominating & Corporate Governance: $12,000 | |
| Committee member fees | Audit & Risk: $10,000; Compensation: $6,000; Nominating & Corporate Governance: $6,000 | |
| Lead Independent Director fee | $15,000 |
Notes: CNOB disclosed no special arrangements for Haye at appointment; only Christopher Becker received a Vice Chairman retainer via a separate agreement. Haye had “no arrangements or understandings” tied to his appointment and had not been assigned to committees yet .
Performance Compensation
Directors do not receive performance-based pay at CNOB; annual equity retainers are time-based restricted stock subject to forfeiture (no dividends on unearned units) .
| Equity feature | Terms | Source |
|---|---|---|
| Director equity | Annual restricted stock grant (time-vested, subject to forfeiture; no dividends until vesting) |
Other Directorships & Interlocks
| Company/Entity | Type | Role | Notes |
|---|---|---|---|
| ConnectOne Bancorp, Inc. | Public | Director (appointed June 1, 2025) | Committee assignments pending as of appointment |
| The First of Long Island Corporation | Public (pre-merger) | Director; Risk Chair; Gov/Nom & ALCO member | Independent director service pre-merger; risk/governance specialization |
Potential conflicts: CNOB disclosed related-party leases and a PR vendor relationship involving other directors for 2024; Haye was not among the related parties disclosed, and no appointment-related arrangements for Haye were reported .
Expertise & Qualifications
- Legal/regulatory expertise: Former Chief Regulatory Counsel at a large regulated utility (American Water Works); partner at a major regional law firm representing regulated industries .
- Board risk oversight: Chaired FLIC’s Risk Committee; served on Loan/Asset-Liability and Governance & Nominating—directly relevant to CNOB’s Audit & Risk and ALCO oversight .
- Education: Dartmouth (A.B.), Fordham (J.D.) .
Equity Ownership
Direct CNOB beneficial ownership for Haye was not yet disclosed in CNOB’s 2025 proxy (record date pre-merger). His last disclosed FLIC ownership was 6,891 shares as of Feb 14, 2024; FLIC shares converted into CNOB common at a 0.5175 exchange ratio at merger close (do not compute resulting CNOB shares here) .
| Security | Holdings/Terms | Date | Source |
|---|---|---|---|
| FLIC common | 6,891 shares | Feb 14, 2024 | |
| FLIC→CNOB conversion | 0.5175 CNOB shares per FLIC share at close | June 1, 2025 |
Ownership alignment policies at CNOB: Directors (excluding CEO/Bank President) are expected to own stock equal to 5× the sum of the then-current annual cash retainer and annual equity award, with a 5-year compliance window—applicable to new directors like Haye from appointment .
Governance Assessment
- Board effectiveness: Haye adds material depth in risk oversight, regulatory affairs, and governance at a time when CNOB is integrating FLIC and managing balance sheet/liquidity and credit cycles. His prior Risk Chair role and ALCO exposure at FLIC should translate well to CNOB’s Audit & Risk oversight post-merger .
- Independence & conflicts: CNOB disclosed no special arrangements for Haye’s appointment and no related-party transactions pertaining to him; broader anti-hedging/pledging and clawback policies reduce alignment risk .
- Compensation & alignment: Absent special terms, Haye should fall under CNOB’s standard director pay mix (50/50 cash/equity retainer) and stock ownership guidelines—supporting long-term alignment .
- Monitor: CNOB’s next proxy should disclose Haye’s committee assignments, attendance, and post-merger CNOB share ownership; investors should watch for placement on Audit & Risk or Risk-related subcommittees where his background is most accretive .
RED FLAGS: None material disclosed for Haye. No related-party transactions; no special compensation agreements; committees pending at appointment (a normal post-merger sequencing) .