BLFY.Blue Foundry Bancorp

Form 4: Blue Foundry Bancorp CEO James Nesci Reports Changes in Beneficial Ownership

Sentiment:

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James Nesci, President and CEO of Blue Foundry Bancorp, filed a Form 4 indicating changes in his beneficial ownership of the company's stock due to tax obligations and other transactions.

Summary

  • On February 1, 2025, James Nesci, the President and CEO of Blue Foundry Bancorp, reported changes in his beneficial ownership of the company's common stock.
  • The changes include the disposal of 4,764 shares to satisfy tax obligations at a price of $9.75 per share.
  • Following the transaction, Nesci directly owns 158,205 shares of common stock.
  • Additionally, Nesci indirectly owns 36,882 shares through an IRA, 8,500 shares through a 401(k), and 6,779 shares through an ESOP.
  • Nesci also holds options for 570,450 shares of common stock exercisable at $11.69, expiring on October 19, 2032.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to tax obligations and existing holdings. There's no indication of significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates the CEO's ongoing investment in the company, even with the sale of shares to cover tax obligations.

Stakeholder Impact

  • The transaction has a minor impact on shareholders as it reflects an insider's stock activity, which is a normal part of corporate governance.

Key Dates

DateDescription
10/19/2023Date stock options were granted.
02/01/2025Date of the transaction (disposal of shares for tax obligations).
02/04/2025Date of signature on the Form 4 filing.
10/19/2032Expiration date of the stock options.

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