Form 4: Blue Foundry Bancorp EVP Robert Rowe Reports Tax-Related Stock Disposal

Robert Rowe, EVP and Chief Risk Officer of Blue Foundry Bancorp, reports disposing of 471 shares of common stock to cover tax obligations.

Summary

• On March 6, 2024, Robert Rowe, the EVP and Chief Risk Officer of Blue Foundry Bancorp, disposed of 471 shares of common stock.
• The shares were disposed of to satisfy tax obligations at a price of $8.98 per share.
• Following the transaction, Rowe directly owns 23,404 shares of Blue Foundry Bancorp common stock.
• Rowe also owns 10,000 stock options exercisable at $12.87, expiring on December 1, 2032.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive stock transactions and is typical for publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• Similar filings are made by executives at comparable regional banks, such as OceanFirst Financial Corp. and Provident Financial Services, Inc., whenever they buy or sell company stock.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it involves a small number of shares.
• The filing provides transparency to stakeholders regarding insider transactions.

Key Dates