Form 4: Blue Foundry Bancorp CRO Disposes Shares Post-Merger

Blue Foundry Bancorp's Chief Risk Officer, Keith Owes, reported the disposition of all his common stock holdings following the merger with Fulton Financial Corporation.

Summary

• Keith Owes, Chief Risk Officer of Blue Foundry Bancorp, reported a disposition of common stock.
• On April 1, 2026, 8,982 shares of Blue Foundry Bancorp common stock were disposed of.
• This transaction resulted in zero shares beneficially owned by Mr. Owes following the reported transaction.
• The disposition was a direct consequence of the Agreement and Plan of Merger, dated November 24, 2025, between Blue Foundry Bancorp and Fulton Financial Corporation.
• Under the merger terms, each issued and 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 paid in lieu of fractional shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it confirms the successful completion of a previously announced merger, which is a definitive strategic outcome. The insider's share disposition is a procedural step following the merger.

Positives

• The completion of the merger with Fulton Financial Corporation, as per the agreement dated November 24, 2025, indicates a successful strategic transaction.
• Shareholders of Blue Foundry Bancorp received 0.650 shares of Fulton Financial Corporation common stock for each share held, providing a clear exchange ratio.

Negatives

• NA

Risks

• NA

Future Outlook

The filing reports a completed merger and does not provide forward-looking statements for Blue Foundry Bancorp as an independent entity. The future outlook for former Blue Foundry Bancorp shareholders is now tied to Fulton Financial Corporation.

Management Comments

• NA

Industry Context

StockSavvy.ai notes that consolidation is a common trend in the banking sector, with smaller regional banks often being acquired by larger institutions to achieve economies of scale, expand market reach, and enhance competitive positioning. This merger aligns with that broader industry trend.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders: Former Blue Foundry Bancorp shareholders now hold shares in Fulton Financial Corporation, or received cash in lieu of fractional shares, as per the merger terms.
• Employees: The merger likely impacts employees of Blue Foundry Bancorp, though this filing does not detail those impacts.
• Customers: Customers of Blue Foundry Bancorp are now customers of Fulton Financial Corporation.

Next Steps

• NA

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Fulton Financial Corporation, Merger, Acquisition, Form 4, Insider Trading, Stock Disposition, Keith Owes, Chief Risk Officer