Form 4: Flushing Financial COO Reports Equity Changes

Flushing Financial Corp's COO, Maria A. Grasso, reported recent equity transactions including RSU and PRSU grants and tax-related share dispositions.

Summary

• Maria A. Grasso, Senior Executive Vice President and Chief Operating Officer of Flushing Financial Corp (FFIC), reported changes in her beneficial ownership of company stock.
• On January 26, 2026, 720 shares of Common Stock were disposed of at a price of $16.1 per share to cover tax obligations upon the vesting of previously granted equity.
• On January 27, 2026, Grasso received a grant of 7,590 shares of Common Stock in the form of Restricted Stock Units (RSUs), which are scheduled to cliff vest at the end of a three-year period.
• Additionally, on January 27, 2026, 8,700 Performance Restricted Stock Units (PRSUs) from a grant made on January 26, 2023, did not vest because the associated performance criteria were not met.
• Concurrently, a new grant of 7,590 PRSUs (at target level) was made, which will also cliff vest after a three-year performance period, contingent on the achievement of specific performance metrics.
• Following these transactions, Grasso's direct beneficial ownership stands at 95,244 shares, and she indirectly holds 16,165 shares in the Flushing Bank 401(k) Savings Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there was a disposition for taxes and a non-vesting of prior performance awards, these are offset by new grants of RSUs and PRSUs, indicating ongoing executive compensation and alignment with future performance.

Positives

• Grant of 7,590 Restricted Stock Units (RSUs) to Maria A. Grasso, aligning executive incentives with long-term company performance.
• Grant of 7,590 Performance Restricted Stock Units (PRSUs) at target level, further tying executive compensation to future company performance metrics.

Negatives

• Disposition of 720 shares of Common Stock at $16.1 per share to satisfy tax withholding obligations upon vesting, reducing direct beneficial ownership.
• Non-vesting of 8,700 Performance Restricted Stock Units (PRSUs) from a January 26, 2023 grant, indicating that specific performance criteria for that period were not met.

Risks

• Future vesting of the newly granted 7,590 Performance Restricted Stock Units (PRSUs) is contingent on achieving specific performance metrics over a three-year period, introducing uncertainty regarding the full realization of this compensation.

Future Outlook

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

Industry Context

Form 4 filings are routine disclosures for executives of publicly traded companies, detailing changes in their beneficial ownership of company securities. Equity grants like RSUs and PRSUs are standard components of executive compensation packages across various industries, designed to align management's interests with shareholder value over the long term. The non-vesting of performance-based awards highlights the inherent risk and performance-driven nature of such compensation structures.

Stakeholder Impact

• Shareholders: The grant of new performance-based equity awards aligns executive incentives with long-term shareholder value creation, while the non-vesting of previous PRSUs demonstrates the company's commitment to performance-based compensation.

Next Steps

• Vesting of 7,590 Restricted Stock Units (RSUs) at the end of a three-year period.
• Vesting of 7,590 Performance Restricted Stock Units (PRSUs) at the end of a three-year performance period, contingent on achieving specific performance metrics.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation transactions, including new equity grants and the non-vesting of prior performance awards. It does not contain information significant enough to alter the fundamental investment thesis for Flushing Financial Corp, thus a 'hold' recommendation is maintained based solely on this filing.

Keywords

Flushing Financial Corp, FFIC, Maria Grasso, Form 4, Insider Transaction, Equity Grant, RSU, PRSU, Stock Ownership, Executive Compensation