Form 4: Blue Foundry Bancorp EVP Acela Roselle Reports Stock Transactions
SEC Form 4 Filing
Acela Roselle, EVP of Human Resources at Blue Foundry Bancorp, reports the withholding of shares to cover tax obligations and holdings in 401(k) and ESOP accounts.
Summary
- Acela Roselle, an EVP at Blue Foundry Bancorp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 1, 2025, 342 shares of common stock were withheld by the issuer to satisfy tax obligations at a price of $9.75 per share.
- Following the transaction, Roselle directly owns 16,322 shares of common stock.
- Roselle also indirectly owns 20,000 shares through a 401(k) and 6,776 shares through an ESOP.
- Roselle also owns 55,000 stock options with an exercise price of $11.69, exercisable from October 19, 2023, and expiring on October 19, 2032.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to tax obligations and employee benefit plans, which is typical for executives.
Comparison to Industry Standards
- Executive compensation packages often include stock options and equity grants, similar to Roselle's holdings.
- Tax withholding practices are standard across publicly traded companies to ensure compliance with tax regulations.
- Many companies offer 401(k) and ESOP plans, making Roselle's indirect ownership through these plans typical.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares withheld for tax purposes.
- The filing provides transparency to stakeholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 10/19/2023 | Date stock options became exercisable |
| 02/01/2025 | Date of the reported transaction (tax withholding) |
| 02/04/2025 | Date of the signature on the form |
| 10/19/2032 | Expiration date of stock options |
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