Form 4: Flushing Financial Exec's Equity Changes Reported

A senior executive at Flushing Financial Corp reported recent changes in their beneficial ownership, including RSU grants and PRSU adjustments.

Summary

• Thomas Buonaiuto, Senior Executive Vice President of Flushing Financial Corp (FFIC), reported changes in his beneficial ownership.
• On January 26, 2026, 414 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, 7,040 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.
• Following these transactions, Mr. Buonaiuto directly beneficially owns 38,962 shares of Common Stock.
• Additionally, 8,567 shares of Common Stock are indirectly held in the Flushing Bank 401(k) Savings Plan as of January 27, 2026.
• On January 27, 2026, 5,000 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.
• Concurrently, on January 27, 2026, 7,040 new PRSUs were granted at a target level, which will cliff vest at the end of a three-year performance period if certain performance metrics are achieved.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. While there was a non-vesting of previous performance units and shares withheld for taxes, the executive received new, larger grants of both Restricted Stock Units and Performance Restricted Stock Units, indicating continued confidence and incentive alignment.

Positives

• Grant of 7,040 new Restricted Stock Units (RSUs) to the Senior EVP.
• Grant of 7,040 new Performance Restricted Stock Units (PRSUs) at target level, indicating continued incentive alignment.

Negatives

• Disposition of 414 shares of Common Stock to cover tax liabilities.
• Non-vesting of 5,000 Performance Restricted Stock Units (PRSUs) from a prior grant due to performance criteria not being met.

Risks

• The non-vesting of 5,000 PRSUs indicates that certain performance criteria were not met, which could signal challenges in achieving specific company goals or executive performance targets.
• Future vesting of the newly granted 7,040 PRSUs is contingent on achieving specific performance metrics over a three-year period, posing a risk if those metrics are not met.

Future Outlook

The future outlook for the executive's equity compensation includes the cliff vesting of 7,040 RSUs at the end of a three-year period and the potential vesting of 7,040 PRSUs at the end of a three-year performance period, contingent on achieving specific performance metrics.

Industry Context

NA

Stakeholder Impact

• Shareholders: The non-vesting of PRSUs due to unmet performance criteria could be interpreted as a signal regarding the company's performance against specific targets, potentially raising questions about executive accountability or operational execution. However, the new grants demonstrate ongoing commitment to executive incentives.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• The 7,040 Restricted Stock Units (RSUs) are expected to cliff vest at the end of a three-year period.
• The 7,040 Performance Restricted Stock Units (PRSUs) are expected to cliff vest at the end of a three-year performance period, subject to the achievement of specific performance metrics.

Key Dates

Keywords

FFIC, Flushing Financial Corp, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Performance Restricted Stock Units, Equity Grant, Beneficial Ownership