Form 4: Flushing Financial SEVP Reports Equity Transactions

Flushing Financial Corp's Senior Executive Vice President, Douglas J. McClintock, reported recent equity transactions including RSU grants and PRSU dispositions and grants.

Summary

• Douglas J. McClintock, Senior Executive Vice President of Flushing Financial Corp, reported transactions involving the company's common stock.
• On January 26, 2026, 166 shares of common stock were withheld at a price of $16.1 per share to satisfy tax obligations upon vesting of previously granted equity.
• On January 27, 2026, Mr. McClintock received a grant of 2,000 Restricted Stock Units (RSUs) which are scheduled to cliff vest at the end of a three-year period.
• Also on January 27, 2026, 2,000 Performance Restricted Stock Units (PRSUs) from a January 26, 2023 grant did not vest because the associated performance criteria were not met.
• Concurrently, a new grant of 2,000 PRSUs, at target level, was issued on January 27, 2026, which will cliff vest at the end of a three-year performance period if specific performance metrics are achieved.
• Following these transactions, Mr. McClintock directly beneficially owns 9,867 shares of common stock and indirectly owns 892 shares through the Flushing Bank 401(k) Savings Plan as of January 27, 2026.

Sentiment

Score: 5

Explanation: The filing details routine executive compensation transactions, including both grants and non-vesting events, which are neutral in sentiment as they reflect standard corporate governance and incentive structures rather than unexpected operational or financial news.

Positives

• The grant of 2,000 Restricted Stock Units (RSUs) and 2,000 Performance Restricted Stock Units (PRSUs) indicates continued incentive and future potential compensation for the executive, aligning his interests with long-term company performance.

Negatives

• 2,000 Performance Restricted Stock Units (PRSUs) from a January 26, 2023 grant did not vest due to the failure to meet specified performance criteria, indicating that prior company performance targets were not achieved.

Risks

• The vesting of the newly granted 2,000 Performance Restricted Stock Units (PRSUs) is contingent upon the achievement of certain performance metrics over a three-year period, introducing uncertainty regarding the executive's future compensation if these targets are not met.
• The non-vesting of previous PRSUs highlights the inherent risk in performance-based compensation, where executive payouts are directly tied to company operational and financial results.

Future Outlook

The newly granted Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) are structured to cliff vest at the end of a three-year period, with PRSUs contingent on achieving specific performance metrics, indicating a long-term incentive structure tied to future company performance.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions related to executive compensation, which is a standard practice across publicly traded companies in the financial services industry. It reflects the ongoing use of equity-based incentives to align executive interests with shareholder value over multi-year performance cycles.

Related Party Transactions

• The transactions detailed are part of the executive compensation package for Douglas J. McClintock, Senior Executive Vice President, involving equity grants and dispositions related to his employment with Flushing Financial Corp.

Stakeholder Impact

• Shareholders: The grant of new equity awards could lead to minor dilution over time as shares vest, but also serves to align executive incentives with long-term shareholder value creation. The non-vesting of previous PRSUs indicates that performance targets set for prior periods were not met, which could be viewed positively by shareholders seeking accountability.
• Employees: The compensation structure for senior executives, including performance-based awards, sets a precedent for incentive programs within the company.

Next Steps

• The 2,000 Restricted Stock Units (RSUs) granted on January 27, 2026, are expected to cliff vest at the end of a three-year period.
• The 2,000 Performance Restricted Stock Units (PRSUs) granted on January 27, 2026, are expected to cliff vest at the end of a three-year performance period, contingent on achieving specific performance metrics.

Key Dates

Keywords

Flushing Financial Corp, FFIC, SEC Form 4, Insider Trading, Equity Compensation, RSU, PRSU, Stock Grant, Executive Compensation, Beneficial Ownership