formsc13ga.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549


Schedule 13G

Under the Securities Exchange Act of 1934
(Amendment No____1_______)*


The First of Long Island Corporation
Name of Issuer

Common Stock, $.10 par value
Title of Class of Securities

320734  10  6
CUSIP Number

December 31, 2009
Date of Event Which Requires Filing of this Statement

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
¨
Rule 13d-1(b)
 
¨
Rule 13d-1(c)
 
þ
Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 
 
 
CUSIP No.     320734 10  6
13G
Page 2 of 6 Pages
1
NAME OF REPORTING PERSON:    Paul T.  Canarick
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 NUMBER OF
 SHARES
 BENEFICIALLY
 OWNED BY
 EACH
 REPORTING
 PERSON
 WITH:
5
SOLE VOTING POWER
27,197
 
6
SHARED VOTING POWER
 
473,940
7
SOLE DISPOSITIVE POWER
 
27,197
8
SHARED DISPOSITIVE POWER
 
473,940
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
501,137
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.94%
12
TYPE OF REPORTING PERSON
 
IN
 
 
 
 
CUSIP No.     320734 10  6
13G
Page 3 of 6 Pages
1
NAME OF REPORTING PERSON:     Jean C.  Canarick
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 NUMBER OF
 SHARES
 BENEFICIALLY
 OWNED BY
 EACH
 REPORTING
 PERSON
 WITH:
5
SOLE VOTING POWER
268,694
 
6
SHARED VOTING POWER
 
473,940
7
SOLE DISPOSITIVE POWER
 
268,694
8
SHARED DISPOSITIVE POWER
 
473,940
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
742,634
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
10.30%
12
TYPE OF REPORTING PERSON
 
IN
 
 
 
 
CUSIP No. 320734 10  6
13G
Page 4 of 6 Pages


Item 1.

 
(a)
Name of Issuer
The First of Long Island Corporation

 
(b)
Address of Issuer’s Principal Executive Offices
10 Glen Head Road
Glen Head, NY 11545
Item 2.

 
(a)
Name of Persons Filing.
Paul T. Canarick
Jean C. Canarick

 
(b)
Address of Principal Business Office or, if none, Residence.
C/O Wayne B. Drake, Asst. Treasurer
The First of Long Island Corporation
10 Glen Head Road, Glen Head, NY 11545

 
(c)
Citizenship.
Paul T. Canarick and Jean C. Canarick are citizens of the United States

 
(d)
Title of Class of Securities.  Common Stock, $.10 par value

 
(e)
CUSIP Number.  320734  10  6

Item 3.
If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a:

 
(a)
¨
Broker or Dealer registered under Section 15 of the Act
 
(b)
¨
Bank as defined in Section 3(a)(6) of the Act
 
(c)
¨
Insurance Company as defined in Section 3(a)(19) of the Act
 
(d)
¨
Investment Company registered under Section 8 of the Investment Company Act
 
(e)
¨
Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
 
(f)
¨
Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see §240.13d-1(b)(1)(ii)(F)
 
(g)
¨
Parent Holding Company, in accordance with §240.13d-1(b)(ii)(G) (Note:  See Item 7)
 
(h)
¨
Group, in accordance with §240.13d-1(b)(ii)(H)

Item 4.
Ownership
Paul T. Canarick:
 
(a)
Amount beneficially owned:  501,137
 
(b)
Percent of Class:  6.94% based upon 7,213,056 shares of the Issuer outstanding as of December 31, 2009.
 
(c)
Number of shares as to which the person has
 
(i)
Sole power to vote or to direct the vote:  27,197
 
(ii)
Shared power to vote or to direct the vote:  473,940
 
(iii)
Sole power to dispose or to direct the disposition of:  27,197
 
(iv)
Shared power to dispose or to direct the disposition of:  473,940
 
 
 
 
CUSIP No. 320734 10  6
13G
Page 5 of 6 Pages

Jean C. Canarick:
 
(a)
Amount beneficially owned:  742,634
 
(b)
Percent of Class:  10.30% based upon 7,213,056 shares of the Issuer outstanding as of December 31, 2009.
 
(c)
Number of shares as to which the person has
 
(i)
Sole power to vote or to direct the vote:  268,694
 
(ii)
Shared power to vote or to direct the vote:  473,940
 
(iii)
Sole power to dispose or to direct the disposition of: 268,694
 
(iv)
Shared power to dispose or to direct the disposition of:  473,940

Paul T. Canarick and Jean C. Canarick share voting and investment power of 473,940 shares for which they act as co-trustees pursuant to the Sidney Canarick Trust Agreement dated May 27, 1992 (the “Trust”).  In addition to the shares held by the Trust, Mr. Paul T. Canarick (i) owns 22,142 shares, (ii) holds options to purchase 4,463 shares of common stock that were exercisable on or within 60 days of December 31, 2009 and (iii) holds restricted stock units for an additional 592 shares that vested on December 31, 2009 and will be issued on March 15, 2010.The options and the restricted stock units are treated as beneficially owned in this 13G in accordance with Rule 13d-3(d)(1) under the Securities Exchange Act of 1934.  In addition to the shares held by the Trust, Jean C. Canarick owns 268,692 shares of common stock. Paul Canarick disclaims any beneficial ownership in the shares owned directly by Jean C. Canarick. Jean C. Canarick disclaims any beneficial ownership in the shares owned directly by Paul T. Canarick.

Item 5.
Ownership of Five Percent or less of a Class.  Not Applicable.

Item 6.
Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable

Item 7.
Identification and Classification of the Subsidiary which Acquired the Security Reported on by the Parent Holding Company.  Not Applicable.

Item 8.
Identification and Classification of Members of the Group.  Not Applicable.

Item 9.
Notice of Dissolution of Group.  Not Applicable.

Item 10.
Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.


SIGNATURE

Dated:  February 16, 2010


 
/s/ Paul T. Canarick
 
By:  Paul T. Canarick
   
   
   
 
/s/ Jean C. Canarick
 
By:  Jean C. Canarick