Form 4: FFIC CEO's Equity Changes: RSU Grant, PRSU Forfeiture

Flushing Financial Corp's President & CEO, John R. Buran, reported an acquisition of 15,600 Restricted Stock Units and a forfeiture of 14,250 Performance Restricted Stock Units.

Summary

• John R. Buran, President & CEO and Director of Flushing Financial Corp (FFIC), reported several equity transactions.
• On January 26, 2026, 1,029 shares of Common Stock were disposed of at a price of $16.1 per share to satisfy tax obligations upon vesting.
• On January 27, 2026, 15,600 shares of Common Stock were acquired through a grant of Restricted Stock Units (RSUs), which will cliff vest at the end of a three-year period.
• Also on January 27, 2026, 14,250 Performance Restricted Stock Units (PRSUs) from a January 26, 2023 grant were disposed of due to performance criteria not being met, resulting in non-vesting.
• A new grant of 15,600 PRSUs, at target level, was made on January 27, 2026, which will cliff vest at the end of a three-year performance period if certain performance metrics are achieved.
• Following these transactions, John R. Buran directly beneficially owns 130,914 shares of Common Stock and indirectly owns 127,619 shares in the Flushing Bank 401(k) Savings Plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While there's a negative aspect with the forfeiture of PRSUs due to unmet performance criteria, this is balanced by the grant of new RSUs and PRSUs, which are positive for executive incentives and future potential ownership.

Positives

• John R. Buran received a new grant of 15,600 Restricted Stock Units (RSUs) which cliff vest in three years.
• A new grant of 15,600 Performance Restricted Stock Units (PRSUs) was made, offering potential future equity based on performance.

Negatives

• 1,029 shares of Common Stock were withheld to satisfy taxes upon vesting, reducing direct beneficial ownership.
• 14,250 Performance Restricted Stock Units (PRSUs) from a prior grant (January 26, 2023) did not vest because performance criteria were not met.

Risks

• The newly granted RSUs and PRSUs are subject to cliff vesting over a three-year period, meaning the full grant is not guaranteed until the end of that period.
• The PRSUs are contingent on achieving specific performance metrics, introducing uncertainty regarding their ultimate vesting.

Future Outlook

The newly granted Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) are set to cliff vest at the end of a three-year period, contingent on continued employment and, for PRSUs, the achievement of specific performance metrics.

Industry Context

These transactions reflect routine executive compensation practices within the financial services industry, involving equity grants designed to align management incentives with long-term company performance and shareholder value.

Stakeholder Impact

• Shareholders gain transparency into the equity compensation structure and holdings of a key executive, John R. Buran.
• The performance-based nature of the PRSUs aligns executive incentives with company performance, potentially benefiting shareholders if metrics are met.

Next Steps

• The new RSUs and PRSUs granted on January 27, 2026, are expected to cliff vest at the end of a three-year period, subject to their respective conditions.

Key Dates

Keywords

FFIC, Flushing Financial Corp, Form 4, Insider Transaction, John R. Buran, Restricted Stock Units, Performance Restricted Stock Units, Equity Compensation, Executive Compensation