OceanFirst director reports merger stock, tax holdback
Director John R. Buran’s OceanFirst equity position was adjusted for merger-related share issuances and tax-withholding, with no open-market sales reported.
Rhea-AI Filing Summary
OCEANFIRST FINANCIAL CORP (OCFC) reported that director John R. Buran’s holdings were updated in connection with OceanFirst’s completed merger with Flushing Financial Corporation. On June 1, 2026, each share of Flushing common stock was converted into the right to receive 0.85 share of OceanFirst common stock, and Buran acquired OceanFirst common stock directly and through a 401(k) plan under the merger agreements. On June 3, 2026, 35,037 shares of OceanFirst common stock were withheld at $18.25 per share to satisfy tax liabilities from the vesting of Flushing restricted stock awards; the disclosure states that no shares were sold. This amended filing corrects a clerical error that had omitted the tax-withholding transaction.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock F3, F4 | 35,037 | $18.25 | $639K |
| Grant/Award | Common Stock F1, F2 | 113,329 | -- | -- |
| Grant/Award | Common Stock F1, F2 | 113,265 | -- | -- |
Footnotes (4)
- F1. On June 1, 2026, OceanFirst Financial Corp. ("OceanFirst") completed its previously announced merger with Flushing Financial Corporation ("Flushing") pursuant to the Agreement and Plan of Merger, dated December 29, 2025 (the "Merger Agreement") by and among OceanFirst, Flushing, and Apollo Merger Sub Corp. (the "Merger"). At the effective time of the Merger, each share of Flushing common stock was converted into the right to receive 0.85 of a share (the "Exchange Ratio") of OceanFirst common stock with cash paid in lieu of any fractional share.
- F2. Reflects OceanFirst securities acquired pursuant to the terms of the Merger Agreement and agreements contemplated thereby.
- F3. The reported shares were withheld to satisfy the tax liability in connection with the vesting of Flushing restricted stock awards pursuant to the Merger Agreement. No shares were sold.
- F4. Due to a clerical error, the aforementioned withholding of shares was inadvertently omitted from the original filing. This Amendment is being filed to correct this error.
Key Figures
Key Terms
Agreement and Plan of Merger regulatory
Exchange Ratio financial
restricted stock awards financial
401(k) Plan financial
tax liability financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did OCFC director John R. Buran report in this amended Form 4?
Why was an amended Form 4/A filed for OCFC director John R. Buran?
What indirect OCFC holdings were reported for John R. Buran in this filing?
AI-generated analysis. How Rhea-AI works. Not financial advice.