OceanFirst (OCFC) director receives 52,262 shares via Flushing Financial merger exchange
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OCEANFIRST FINANCIAL CORP director Alfred A. DelliBovi reported an acquisition of 52,262 shares of Common Stock. The shares were received at no cash cost as part of the merger between OceanFirst Financial Corp, Flushing Financial Corporation, and Apollo Merger Sub Corp under an Agreement and Plan of Merger.
Each Flushing Financial common share was converted into the right to receive 0.85 OceanFirst share at the effective time of the merger, with cash paid instead of fractional shares. The reported holdings include 4,080 restricted stock units that vest in full on January 30, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DelliBovi Alfred A
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 52,262 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 52,262 shares (Direct, null)
Footnotes (1)
- Represents shares of Issuer Common Stock received pursuant to the Agreement and Plan of Merger, dated December 29, 2025 (the "Merger Agreement"), by and among OceanFirst Financial Corp. (the "Issuer"), Flushing Financial Corporation ("FFIC"), and Apollo Merger Sub Corp. ("Merger Sub"). At the effective time of the merger (the "Effective Time"), each share of FFIC common stock outstanding immediately prior to the Effective Time was converted into the right to receive 0.85 shares of Issuer Common Stock (the "Exchange Ratio") with cash paid in lieu of any fractional shares, in accordance with the Merger Agreement. Reflects OceanFirst securities acquired pursuant to the terms of the Merger Agreement and agreements contemplated thereby. Includes 4,080 restricted stock units acquired pursuant to the terms of the Merger Agreement and agreements contemplated thereby, which cliff vest on January 30, 2027.
Key Figures
Shares acquired: 52,262 shares
Price per share: $0.00 per share
Total shares after transaction: 52,262 shares
+2 more
5 metrics
Shares acquired
52,262 shares
Common Stock received in merger-related grant/award acquisition
Price per share
$0.00 per share
Stated acquisition price for reported Common Stock grant
Total shares after transaction
52,262 shares
Direct holdings of Alfred A. DelliBovi following the acquisition
Exchange ratio
0.85 shares
OceanFirst shares per Flushing Financial common share under merger
Restricted stock units
4,080 RSUs
Acquired under merger terms; cliff vest on January 30, 2027
Key Terms
Agreement and Plan of Merger, Exchange Ratio, restricted stock units, cliff vest, +1 more
5 terms
Agreement and Plan of Merger regulatory
"received pursuant to the Agreement and Plan of Merger, dated December 29, 2025"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Exchange Ratio financial
"was converted into the right to receive 0.85 shares of Issuer Common Stock (the "Exchange Ratio")"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
restricted stock units financial
"Includes 4,080 restricted stock units acquired pursuant to the terms of the Merger Agreement"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
cliff vest financial
"restricted stock units ... which cliff vest on January 30, 2027"
A cliff vest is a schedule for stock options or restricted shares where no ownership rights are earned until a fixed date, after which a set portion becomes fully owned all at once — like a probation period that suddenly unlocks pay. Investors watch cliff vests because they influence when insiders can sell shares, affect staff retention and dilution timing, and help predict short-term changes in a company’s shareholder makeup.
Effective Time regulatory
"At the effective time of the merger (the "Effective Time"), each share of FFIC common stock"
FAQ
What insider transaction did OCEANFIRST FINANCIAL CORP (OCFC) report for Alfred A. DelliBovi?
Alfred A. DelliBovi reported acquiring 52,262 shares of OceanFirst Common Stock. The shares were received as merger consideration rather than through an open-market purchase, reflecting equity issued in connection with the completed merger structure.
What was the exchange ratio described in the OceanFirst (OCFC) Form 4 filing?
Each share of Flushing Financial Corporation common stock was converted into the right to receive 0.85 shares of OceanFirst Common Stock. Cash was paid instead of any fractional OceanFirst shares, according to the merger agreement’s exchange provisions.
What restricted stock units did Alfred A. DelliBovi receive in the OceanFirst (OCFC) merger?
His holdings include 4,080 restricted stock units in OceanFirst acquired under the merger terms. These restricted stock units are scheduled to cliff vest on January 30, 2027, meaning the full award vests at that single future vesting date.