Form 4: Flushing Financial Corp Executive Sells Shares to Cover Taxes

Susan Cullen, SEVP/CFO of Flushing Financial Corp, sold 687 shares of common stock to cover taxes related to vesting.

Summary

• Susan Cullen, the SEVP/CFO of Flushing Financial Corp, sold 687 shares of common stock on January 26, 2025.
• The sale was executed at a price of $14.53 per share.
• This transaction was to cover taxes associated with the vesting of shares.
• Following the transaction, Ms. Cullen directly owns 81,743 shares of common stock.
• She also indirectly owns 16,471 shares through the Flushing Bank 401(k) Savings Plan as of January 27, 2025.

Sentiment

Score: 5

Explanation: This is a neutral transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Executive stock sales to cover taxes are a common practice across the financial industry.
• Many executives at comparable financial institutions such as New York Community Bancorp (NYCB) and Signature Bank (SBNY) also regularly file Form 4s for similar transactions.
• The number of shares sold and the price are within typical ranges for such transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Flushing Financial Corp, FFIC, insider trading, Form 4, Susan Cullen, SEVP/CFO, stock sale, executive compensation, share vesting, 401k