Form 4: Flushing Financial Corp Merger Completion

Director Sam Han reports the disposal of Flushing Financial Corp shares following the completion of the merger with OceanFirst Financial Corp.

Summary

• Director Sam Han disposed of 72,051 shares of Flushing Financial Corp (FFIC) common stock on June 1, 2026.
• An additional 4,800 unvested restricted stock units (RSUs) were converted as part of the merger agreement.
• The transactions occurred due to the acquisition of Flushing Financial Corp by OceanFirst Financial Corp (OCFC).
• Each share of FFIC was converted into 0.85 shares of OCFC common stock.
• The reporting person no longer holds any direct or indirect beneficial ownership in Flushing Financial Corp.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing confirming the completion of a previously announced merger.

Positives

• Successful completion of the merger transaction with OceanFirst Financial Corp.
• Shareholders received a defined conversion ratio of 0.85 shares of OCFC for each share of FFIC held.

Negatives

• The issuer, Flushing Financial Corp, has ceased to exist as an independent publicly traded entity following the merger.

Risks

• Integration risks associated with the merger between Flushing Financial Corp and OceanFirst Financial Corp.

Future Outlook

The company has been acquired and merged into OceanFirst Financial Corp; therefore, no further independent guidance for Flushing Financial Corp is provided.

Industry Context

StockSavvy.ai notes that this filing confirms the finalization of a regional banking consolidation, reflecting the ongoing trend of M&A activity within the U.S. banking sector to achieve scale and operational efficiencies.

Comparison to Industry Standards

• The merger follows standard industry practices for bank acquisitions, utilizing a stock-for-stock exchange ratio.
• The conversion of unvested RSUs into the acquiring entity's equity is consistent with standard change-in-control provisions in executive compensation agreements.

Stakeholder Impact

• Shareholders have transitioned their holdings from FFIC to OCFC stock.
• The reporting person has exited their position in the issuer.

Next Steps

• Final delisting of Flushing Financial Corp (FFIC) from the stock exchange.

Key Dates

Keywords

Flushing Financial Corp, FFIC, OceanFirst Financial, Merger, Acquisition, Form 4, Insider Trading