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FLUSHING FINANCIAL CORP·4

Jan 28, 8:13 PM ET

KORZEKWINSKI FRANCIS W 4

Research Summary

AI-generated summary

Updated

Flushing Financial SEVP Francis Korzekwinski Receives Awards

What Happened

  • Francis W. Korzekwinski, Senior Executive Vice President of Flushing Financial Corp. (FFIC), received equity awards and experienced routine tax withholding tied to vesting. On 1/27/2026 he was credited with 7,040 shares from a grant/conversion (RSUs/derivative conversion). Separately, 8,300 performance RSUs (PRSUs) were disposed/canceled because performance criteria were not met. On 1/26/2026, 480 shares were withheld to satisfy taxes at $16.10/share, totaling $7,728. These actions are award-related and not an open-market purchase or opportunistic sale.

Key Details

  • Transaction dates and amounts:
    • 2026-01-26: 480 shares withheld for taxes at $16.10 each — value $7,728 (Disposition; code F).
    • 2026-01-27: Grant/award of 7,040 RSUs (Acquired; code A) — price N/A.
    • 2026-01-27: Conversion/exercise entries: 8,300 shares disposed (derivative; code M) — non-vest of PRSUs; 7,040 shares acquired (derivative conversion; code M) — price N/A.
  • Shares owned after the transactions: not specified in the filing.
  • Relevant footnotes:
    • F1: Shares withheld to satisfy taxes upon vesting.
    • F2: RSUs cliff-vest at end of a three-year period.
    • F4: The 8,300-share disposition resulted from PRSUs not vesting due to unmet performance criteria (from a 1/26/2023 grant).
    • F5: The PRSU grant is at target level and vests only if performance metrics are achieved after three years.
    • F3: Some shares are held in the Flushing Bank 401(k) Savings Plan as of 1/27/26.
  • Filing timeliness: Report filed 2026-01-28 for transactions dated 1/26–1/27/2026; the filing does not indicate lateness.

Context

  • These entries reflect award activity and routine tax withholding, not an open-market sale or purchase. The 480-share disposition was to cover taxes on vesting (common practice). The 8,300-share disposition was not a market sale but cancellation of PRSUs due to unmet performance goals. RSUs/PRSUs commonly cliff-vest (per footnotes), so future value depends on vesting and performance outcomes.