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

Astrid Burrowes, EVP/CAO of Flushing Financial Corp, sold 229 shares of common stock to cover taxes upon vesting.

Summary

• Astrid Burrowes, an Executive Vice President and Chief Accounting Officer at Flushing Financial Corp, sold 229 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. Burrowes directly owns 46,064 shares of common stock.
• She also indirectly owns 28,326 shares through the Flushing Bank 401(k) Savings Plan as of January 27, 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. There is no indication of positive or negative sentiment, it is a neutral event.

Industry Context

This is a routine transaction for executives who receive stock as part of their compensation. It is common for executives to sell shares to cover tax obligations when stock vests.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across the financial industry.
• Many companies use similar vesting schedules and tax withholding methods for their executive compensation plans.
• The number of shares sold is relatively small compared to the total holdings, which is typical for tax-related sales.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive for tax purposes.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Flushing Financial Corp, insider trading, Form 4, stock sale, executive compensation, Astrid Burrowes, FFIC, share vesting, tax withholding