Form 4: BLFY Director Sells Shares Post-Fulton Merger

Blue Foundry Bancorp Director Jonathan M. Shaw disposed of all his common stock and stock options following the merger with Fulton Financial Corporation.

Summary

• Jonathan M. Shaw, a Director of Blue Foundry Bancorp (BLFY), reported the disposition of all his beneficial ownership in the company's securities.
• The transactions occurred on April 1, 2026, for common stock and March 30, 2026, for stock options, pursuant to the merger agreement with Fulton Financial Corporation.
• A total of 69,262 shares of common stock were disposed of, including 45,808 directly owned, 14,238 held in an IRA, 9,100 in a spouse's IRA, and 116 as custodian for a child.
• Each outstanding share of Blue Foundry Bancorp common stock was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock, with cash in lieu of fractional shares.
• 106,959 stock options, with an exercise price of $11.54, were cancelled and converted into a cash payment.
• The cash payment for options was calculated as the difference between the per share consideration price ($13.6435) and the exercise price ($11.54), multiplied by the number of options, totaling approximately $224,960.71.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a mandatory disclosure of a completed transaction (insider disposition due to a merger) and does not reflect new operational performance or strategic decisions.

Future Outlook

This filing does not contain forward-looking statements or guidance, as it reports a completed insider transaction resulting from a merger.

Industry Context

StockSavvy.ai notes that this Form 4 filing is a standard post-merger disclosure, indicating the finalization of the acquisition of Blue Foundry Bancorp by Fulton Financial Corporation. Such filings are routine for directors and officers whose company's shares are exchanged or converted as part of a corporate transaction, reflecting the change in their beneficial ownership.

Stakeholder Impact

• Shareholders of Blue Foundry Bancorp received consideration (Fulton Financial Corporation common stock or cash) for their shares as a result of the merger.
• The reporting person, as a director, has liquidated his holdings in Blue Foundry Bancorp as expected following the merger.

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Fulton Financial Corporation, Merger, Insider Transaction, Form 4, Stock Options, Common Stock, Director, Share Disposition