Burrowes Astrid 4

What Happened

• Astrid Burrowes, Executive Vice President of Flushing Financial Corp. (FFIC), received equity awards and completed a conversion/exercise of derivative awards. The filing shows:
  • 3,760 shares acquired on 2026-01-27 as a grant/award (RSUs) — no purchase price reported.
  • A derivative exercise/conversion on 2026-01-27 resulting in 1,840 shares acquired and a simultaneous report of 1,840 shares disposed (both reported as code M; no price/value reported).
  • 229 shares were withheld on 2026-01-26 to satisfy tax withholding at $16.10/share, a total withholding value of $3,687.
• Most transactions are awards/derivative conversions (not open-market purchases or sales). Values for the new grants and conversions were not reported in the filing.

Key Details

• Transaction dates and amounts:
  • 2026-01-26: 229 shares withheld for taxes at $16.10/share (F) — $3,687.
  • 2026-01-27: Grant of 3,760 RSUs (A) — N/A price/value.
  • 2026-01-27: Exercise/conversion of derivative (M) — 1,840 shares acquired and 1,840 shares disposed (N/A price/value).
• Shares owned after the transactions: Not specified in the provided summary filing (the filing does note some shares held in the Flushing Bank 401(k) as of 1/27/26).
• Notable footnotes:
  • F1: Shares withheld to satisfy taxes upon vesting.
  • F2: Grant of RSUs that cliff vest at the end of a three-year period.
  • F4: The 1,840-share disposition resulted from non-vesting of an equal number of PRSUs from the Jan 26, 2023 grant (performance criteria not met).
  • F5: Grant of PRSUs at target level that cliff vest after a three-year performance period if metrics are met.
• Filing timeliness: Report covers period ending 2026-01-26 and was filed 2026-01-28 — appears timely.

Context

• The activity is primarily award- and compensation-related (RSUs/PRSUs and conversion of derivative awards), not an open-market buy or sale. Such awards typically vest over multi-year schedules:
  • RSUs generally cliff vest after three years (per footnote).
  • PRSUs are performance-based and may be forfeited if targets aren’t met (as noted by the 1,840-share disposition).
• Tax withholding (F code) is a routine administrative step and does not indicate a deliberate sale for investment reasons.
• Derivative transactions (M code) here indicate conversion/exercise of equity awards into shares; because an equal number of PRSUs did not vest, part of the reported activity includes forfeiture/disposition related to performance outcomes.