Form 4: Blue Foundry CEO Nesci Reports Stock Vesting, Tax Withholding

Blue Foundry Bancorp's President and CEO, James D. Nesci, reported the vesting of performance shares and subsequent tax-related stock disposition.

Summary

• James D. Nesci, President and CEO of Blue Foundry Bancorp, reported transactions on March 25, 2026.
• Acquired 57,045 shares of common stock due to the vesting of performance shares, in accordance with the Agreement and Plan of Merger by and between Fulton Financial Corporation and Blue Foundry Bancorp.
• Disposed of 80,297 shares of common stock at a price of $13.6435 per share to satisfy tax obligations related to the vesting.
• Following these transactions, Nesci directly holds 113,178 shares of common stock.
• Indirect holdings include 36,882 shares in an IRA, 11,772 shares in an ESOP, and 8,500 shares in a 401(k).
• Nesci also holds 570,450 stock options with an exercise price of $11.69, which vest ratably over seven years commencing October 19, 2023, and expire on October 19, 2032.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. It reflects routine executive compensation activity (vesting and tax-related sales) and does not indicate a significant change in company fundamentals or insider sentiment.

Positives

• The vesting of 57,045 performance shares represents earned equity compensation for the President and CEO, indicating achievement of performance targets or service conditions.

Negatives

• A disposition of 80,297 shares of common stock occurred to cover tax obligations, which is a reduction in direct beneficial ownership.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedule of existing stock options.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into executive and director equity movements. These routine compensation-related transactions are common across the financial services industry, particularly for executives receiving performance-based equity awards.

Stakeholder Impact

• Shareholders: The report provides transparency into the equity holdings and compensation activities of a key executive. The disposition for taxes slightly dilutes direct insider ownership but is a standard practice.

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Insider Transaction, Form 4, Equity Compensation, Stock Vesting, Tax Withholding, Performance Shares, Stock Options, Executive Compensation