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FLUSHING FINANCIAL CORP·4

Jan 28, 6:48 PM ET

McClintock Douglas J 4

Research Summary

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Updated

Flushing Financial (FFIC) SEVP Douglas McClintock Receives Award

What Happened

  • Douglas J. McClintock, Senior Executive Vice President of Flushing Financial Corp. (FFIC), received a grant of 2,000 restricted stock units (RSUs) on 2026-01-27. The filing also records conversions/exercises of derivative instruments that resulted in the acquisition of 2,000 shares and the disposition of 2,000 derivative units.
  • On 2026-01-26, 166 shares were withheld (disposed) to satisfy tax withholding at $16.10 per share, totaling $2,673. The primary activity is a compensation award (RSUs/PRSUs) rather than an open-market purchase or sale.

Key Details

  • Transaction dates and amounts:
    • 2026-01-26: 166 shares disposed (tax withholding) at $16.10 — proceeds/withholding $2,673 (code F).
    • 2026-01-27: Grant of 2,000 RSUs (code A) — acquisition recorded; price N/A.
    • 2026-01-27: Exercise/conversion of derivative instruments — 2,000 derivative units disposed (code M) and 2,000 shares acquired (code M); no price shown (derivative conversion).
  • Shares owned after transaction: Not specified in the filing.
  • Notable footnotes from the filing:
    • F1: Shares were withheld to satisfy taxes upon vesting.
    • F2: The 2,000 RSUs cliff vest at the end of a three-year period.
    • F4: The 2,000-share disposition resulted from non-vesting (forfeiture) of an equal number of PRSUs from a Jan 26, 2023 grant due to performance criteria not being met.
    • F5: A grant of PRSUs at target was also recorded; these PRSUs cliff vest after a three-year performance period if metrics are met.
    • F3: Notes certain shares held in the Flushing Bank 401(k) as of 1/27/26.
  • Filing timeliness: Report filed 2026-01-28 for transactions dated 2026-01-26 and 01-27; the filing shows no indication of being late.

Context

  • This filing primarily reflects compensation-related awards (RSUs/PRSUs) and routine tax-withholding rather than a market purchase or sale. RSUs typically vest over time (here, cliff vesting in three years) and do not necessarily indicate immediate bullish selling or buying by the insider.
  • The derivative entries reflect conversions/exercises and a forfeiture of performance-based RSUs (PRSUs) from a prior grant that did not meet performance criteria — a common occurrence in performance-based equity plans.