Form 4: Blue Foundry CRO Sells Shares for Tax Obligations

Blue Foundry Bancorp's Chief Risk Officer, Keith Owes, disposed of 1,023 common stock shares at $9.68 each to cover tax liabilities, retaining 14,477 shares.

Summary

• Keith Owes, Chief Risk Officer of Blue Foundry Bancorp, reported a disposition of common stock.
• On September 18, 2025, Owes disposed of 1,023 shares of Blue Foundry Bancorp common stock.
• The shares were disposed of at a price of $9.68 per share.
• This transaction was coded 'F', indicating a disposition to the issuer to cover tax liability.
• Following this transaction, Keith Owes beneficially owns 14,477 shares of common stock.
• The remaining beneficial ownership includes 10,167 restricted stock grant shares that have not yet vested.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax purposes, which is a neutral event and does not indicate positive or negative sentiment towards the company's performance or outlook.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

Insider transactions, particularly dispositions to cover tax liabilities (Code F), are common and often pre-planned events under Rule 10b5-1 plans. These transactions typically do not reflect a change in management's outlook on the company's prospects but rather a routine administrative action related to equity compensation.

Stakeholder Impact

• Shareholders: The transaction is a routine tax-related disposition by an executive and is unlikely to have a significant direct impact on shareholder value or perception.

Key Dates

Recommendation

This Form 4 filing details a routine disposition of shares by an executive to cover tax obligations, which is a common occurrence with equity compensation. It does not provide new information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as the fundamental investment thesis remains unchanged based on this filing.

Keywords

Blue Foundry Bancorp, BLFY, Keith Owes, Chief Risk Officer, Insider Trading, SEC Form 4, Stock Disposition, Tax Liability, Common Stock