Form 4: Blue Foundry Bancorp EVP Elyse D. Beidner Reports Changes in Beneficial Ownership
SEC Form 4
Elyse D. Beidner, EVP and Chief Legal Officer of Blue Foundry Bancorp, reports changes in beneficial ownership of company stock due to tax obligation fulfillment and transactions within the 401(k) and ESOP.
Summary
- On March 6, 2025, Elyse D. Beidner, EVP and Chief Legal Officer of Blue Foundry Bancorp, reported changes in her beneficial ownership of the company's common stock.
- 1,195 shares were disposed of to satisfy tax obligations at a price of $9.65 per share.
- Beidner also indirectly owns 20,000 shares through a 401(k) and 9,375 shares through an ESOP.
- She directly owns 24,671 shares of common stock following the reported transactions.
- Beidner also holds options for 55,000 shares of common stock, vesting ratably over seven years starting October 19, 2023, with an exercise price of $11.69.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't contain overtly positive or negative information, hence a neutral sentiment score.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, which is common in the banking industry. It provides transparency regarding the holdings and transactions of key personnel.
Comparison to Industry Standards
- Executive compensation packages, including stock options and ESOP participation, are standard practice in the banking industry to align management's interests with those of shareholders.
- Vesting schedules for stock options, such as the seven-year ratable vesting described, are typical to incentivize long-term commitment.
- Similar filings are regularly made by executives at comparable institutions like Bank of America, JP Morgan Chase, and Wells Fargo, reflecting similar compensation structures and reporting requirements.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The transactions are unlikely to have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 10/19/2023 | Stock options vest ratably for seven years commencing on this date. |
| 03/06/2025 | Date of the reported transaction involving the disposal of shares for tax obligations. |
| 03/10/2025 | Date of signature for the report. |
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