Han Sam Sang Ki 4
Research Summary
AI-generated summary
Flushing Financial (FFIC) Director Han Sam Sang Ki Sells 76,851 Shares
What Happened
Han Sam Sang Ki, a director of Flushing Financial Corp (FFIC), recorded dispositions of 72,051 and 4,800 FFIC shares (total 76,851) on June 1, 2026. These were not open-market sales but dispositions pursuant to FFIC’s merger agreement with OceanFirst Financial Corporation (OCFC). Each FFIC share was converted into the right to receive 0.85 shares of OCFC common stock (with fractional shares paid in cash) at the merger’s effective time; no per-share dollar price is reported for the conversion. As a result of the merger, the reporting person no longer beneficially owns any FFIC common stock.
Key Details
- Transaction date: June 1, 2026 (Merger closed effective that day). Filing date: June 2, 2026 (timely).
- Shares disposed: 72,051 and 4,800 (total 76,851). Price: N/A (conversion to OCFC stock per merger terms).
- Shares owned after transaction: 0 shares of FFIC common stock (reporting person no longer beneficially owns FFIC shares).
- Notable footnotes: Dispositions were made pursuant to the Merger Agreement; each FFIC share converted into 0.85 OCFC shares (fractional shares paid in cash). Previously unvested FFIC RSUs were converted into service-based RSUs denominated in OCFC shares on a 0.85-to-1 basis (rounded down) and remain subject to original vesting terms.
- Filing timeliness: No late filing flag reported.
Context
This filing reflects merger consideration and conversion mechanics, not a typical insider sell or market trade. The reporting person may now hold OCFC shares or converted RSUs under the merger terms, but this Form 4 reports only the loss of beneficial ownership in FFIC stock resulting from the merger.