Form 4: Blue Foundry Bancorp SVP Thomas Packwood Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Thomas Packwood, SVP and Chief Audit Officer of Blue Foundry Bancorp, reports changes in beneficial ownership of company stock due to tax obligation fulfillment.
Summary
- Thomas Packwood, SVP and Chief Audit Officer of Blue Foundry Bancorp, filed a Form 4 on February 4, 2025, reporting changes in beneficial ownership of Blue Foundry Bancorp stock.
- On February 1, 2025, 342 shares of common stock were disposed of to satisfy tax obligations at a price of $9.75 per share.
- Following the transaction, Packwood directly owns 16,322 shares of common stock.
- Packwood also indirectly owns 5,000 shares through a 401(k) and 6,607 shares through an ESOP.
- Packwood 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, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares disposed of for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 10/19/2023 | Date stock options became exercisable |
| 02/01/2025 | Date of transaction (disposal of shares for tax obligations) |
| 02/04/2025 | Date of Form 4 filing |
| 10/19/2032 | Expiration date of stock options |
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