Form 4: Flushing Financial Executive Reports Merger Completion

Senior EVP Francis Korzekwinski reports the disposal of all Flushing Financial Corp shares following the completed merger with OceanFirst Financial Corp.

Summary

• Francis Korzekwinski, Senior EVP of Flushing Financial Corp (FFIC), filed a Form 4 reporting the disposal of all direct and indirect holdings in FFIC common stock.
• The disposal occurred on June 1, 2026, as a result of the completed merger between FFIC and OceanFirst Financial Corp (OCFC).
• Under the merger agreement, FFIC shares were converted into the right to receive 0.85 shares of OCFC common stock per FFIC share.
• The reporting person no longer holds any beneficial ownership in Flushing Financial Corp.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing documenting the final stages of a previously announced corporate merger.

Positives

• Successful completion of the merger with OceanFirst Financial Corp as of June 1, 2026.
• Acceleration and vesting of previously unvested restricted stock units (RSUs) and performance restricted stock units (PRSUs) at target levels.

Negatives

• The reporting person has fully divested their equity position in Flushing Financial Corp due to the acquisition.

Risks

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

Future Outlook

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

Management Comments

• The reporting person confirms that as a result of the merger, they no longer beneficially own any shares of the issuer.

Industry Context

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

Comparison to Industry Standards

• The 0.85 exchange ratio is consistent with standard bank merger premiums observed in recent regional banking transactions.
• The acceleration of equity awards upon change-in-control is a standard practice in executive compensation agreements.

Stakeholder Impact

• Shareholders of Flushing Financial Corp have received OceanFirst Financial Corp stock as merger consideration.
• Executive management positions are subject to transition following the acquisition.

Next Steps

• Finalization of administrative integration between Flushing Financial Corp and OceanFirst Financial Corp.

Key Dates

Keywords

Flushing Financial, FFIC, OceanFirst Financial, Merger, Form 4, Insider Transaction, Acquisition