Insider sales
Thomas Buonaiuto, who serves as senior executive vice president at Flushing Financial Corp (NASDAQ: FFIC), executed two open-market sales of company shares that together amount to $45,977, according to a Form 4 filed with the Securities and Exchange Commission. The filing shows Buonaiuto sold 1,311 shares on January 30, 2026, at $15.67 per share and 1,570 shares on February 2, 2026, at a weighted average price of $16.20. The reported price range for the transactions is $15.67 to $16.20.
Post-transaction holdings
Following those dispositions, Buonaiuto is recorded as directly owning 35,469 shares of Flushing Financial common stock. The filing also notes that Buonaiuto’s spouse directly holds 222 shares, and 8,578 shares are held in a Flushing Bank 401(k) account as of February 2, 2026.
Corporate developments and transaction context
These insider sales occur while Flushing Financial and OceanFirst Financial Corp have announced an all-stock merger agreement that values the combined transaction at approximately $579 million. The companies say the deal is intended to create a regional banking franchise with about $23 billion in assets serving New Jersey, Long Island and New York markets. Completion of the merger is anticipated in the first half of 2026 and remains contingent on regulatory and shareholder approvals.
Credit agency action and dividend notice
In response to the merger announcement, Moody’s Ratings affirmed all ratings for OceanFirst Financial and its banking subsidiary, OceanFirst Bank, N.A., but revised the outlook to negative from stable. Separately, Flushing Financial’s board of directors declared a quarterly dividend of $0.22 per common share, payable on December 19, 2025, to shareholders of record as of December 5, 2025.
Contextual note
The filings and corporate disclosures together document an insider sale alongside a significant corporate transaction and a credit-rating outlook change. The sales, the merger agreement and the credit agency response are set out in public filings and company announcements as described above.
Clear summary
- Flushing Financial SEVP Thomas Buonaiuto sold a total of 2,881 shares across two transactions for $45,977.
- OceanFirst and Flushing have agreed to an all-stock merger valued at about $579 million, targeting a combined $23 billion in assets across three regional markets.
- Moody’s affirmed ratings for OceanFirst but changed the outlook to negative; Flushing declared a $0.22 quarterly dividend payable December 19, 2025.
Key points
- Insider transaction detail - Buonaiuto sold shares on January 30 and February 2, 2026, at prices between $15.67 and $16.20.
- M&A activity - The all-stock merger with OceanFirst is valued at roughly $579 million and is expected to close in the first half of 2026, subject to approvals.
- Credit and capital actions - Moody’s changed OceanFirst’s outlook to negative while Flushing paid a $0.22 quarterly dividend late in 2025.
Risks and uncertainties
- Regulatory and shareholder approvals are required for the merger to close - the transaction remains contingent on those approvals.
- Moody’s revised the outlook for OceanFirst to negative from stable following the merger announcement, creating potential credit outlook uncertainty for the combined franchise.