Form 4: Blue Foundry Bancorp CEO's Tax-Related Stock Withholding

Blue Foundry Bancorp's President and CEO, James D. Nesci, reported a routine transaction involving shares withheld for tax obligations.

Summary

• James D. Nesci, President and CEO of Blue Foundry Bancorp, reported a transaction on February 1, 2026.
• 5,272 shares of Common Stock were withheld by the issuer to satisfy tax obligations at a price of $13.15 per share.
• Following this transaction, Nesci directly beneficially owns 144,767 shares of Common Stock.
• Indirect beneficial ownership includes 36,882 shares via an IRA, 9,375 shares via an ESOP, and 8,500 shares via a 401(k).
• Nesci also holds 570,450 stock options with an exercise price of $11.69, which vest ratably over seven years starting October 19, 2023, and expire on October 19, 2032.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine administrative transaction for tax purposes rather than a discretionary sale or purchase by the insider.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine tax-related withholdings, as reported in Form 4 filings, are common for executives receiving equity compensation and typically do not signal changes in company strategy or financial health.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary transaction where shares were withheld to cover tax obligations related to executive compensation. It does not indicate a change in the company's fundamentals, strategic direction, or the insider's confidence in the company. Therefore, it provides no basis for a change in investment recommendation, suggesting a "hold" position is appropriate based solely on this filing.

Keywords

Blue Foundry Bancorp, BLFY, James D. Nesci, Form 4, Insider Transaction, Stock Withholding, CEO, Beneficial Ownership, Stock Options