BLFY.Blue Foundry Bancorp

Form 4: Blue Foundry Bancorp CEO James Nesci Reports Tax-Related Stock Disposal

Sentiment:

SEC Form 4 Filing

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James Nesci, President and CEO of Blue Foundry Bancorp, reports the disposal of 8,166 shares to cover tax obligations on March 6, 2025.

Summary

  • On March 6, 2025, James D. Nesci, the President and CEO of Blue Foundry Bancorp, reported a transaction involving the disposal of 8,166 shares of common stock to satisfy tax obligations.
  • The shares were disposed of at a price of $9.65 per share.
  • Following the transaction, Nesci directly owns 150,039 shares of Blue Foundry Bancorp common stock.
  • Nesci also indirectly owns 36,882 shares through an IRA, 9,375 shares through an ESOP, and 8,500 shares through a 401(k).
  • Nesci holds options for 570,450 shares of common stock, which vest ratably over seven years starting October 19, 2023.

Sentiment

Score: 5

Explanation: This is a neutral filing related to standard tax management practices. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock. This filing indicates that the CEO is managing their tax obligations related to their equity compensation.

Stakeholder Impact

  • The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the CEO's long-term commitment to the company.

Key Dates

DateDescription
10/19/2023Stock options vest ratably for seven years commencing on this date.
03/06/2025Date of the transaction where shares were disposed of to satisfy tax obligations.
03/10/2025Date of signature for the Form 4 filing.
10/19/2032Expiration date of the stock options.

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