Raffetto Richard A 4

What Happened
Richard A. Raffetto, Senior Executive Vice President and President of Commercial & Private Banking at Flagstar Bank (NYSE: FLG), reported multiple transactions in 2025 that resulted in a net purchase of 753 shares (total purchases 757 shares; 4 shares sold). Details: 570 shares at $11.85 on 2025-03-04 (≈ $6,755), 92 shares at $11.67 on 2025-06-04 (≈ $1,074), a sale of 4 shares at $12.93 on 2025-09-04 (≈ $52), and 95 shares at $12.85 on 2025-12-04 (≈ $1,221). Aggregate cash flow: roughly $9,050 of purchases and $52 of sales, netting about $8,998 invested.

Key Details

• Transaction types: March 4 & June 4 listed as discretionary transactions; Sept 4 was an open-market sale; Dec 4 was an open-market purchase.
• Prices & dates: 3/4/2025 — 570 @ $11.85; 6/4/2025 — 92 @ $11.67; 9/4/2025 — 4 @ $12.93 (sale); 12/4/2025 — 95 @ $12.85.
• Shares owned after transaction: not disclosed on the filing.
• Footnotes / plan activity:
  • Many transactions involve the issuer’s qualifying 401(k) plan and are exempt under Rule 16b-3(f) (intra-plan transfers).
  • Includes routine payroll contributions (e.g., 552 shares noted) and dividend reinvestment (fractional shares credited on March/June/Sept/Dec dividend dates).
  • A Sep 4 transfer out and Dec 4 transfer back were plan rebalancing moves that produced matchable transactions; any profit from those rebalancing moves was disgorged to the issuer.
• Filing timeliness: Form 4 was filed 2026-02-06 for transactions in 2025, indicating a delayed filing (reduces the timeliness of disclosure).

Context

• These purchases are largely plan-driven (payroll contributions, dividend reinvestment, intra-plan transfers) rather than large discretionary open-market buys—such plan activity is common and exempt from short-swing profit rules.
• The small sale (4 shares) is minor relative to purchases and likely related to plan rebalancing (see footnote on disgorgement).
• No options exercised or gifts reported in this filing.