Form 4: Director Kinzler Disposes BLFY Shares Post-Merger

Blue Foundry Bancorp Director Patrick H. Kinzler disposed of all his common stock and stock options following the merger with Fulton Financial Corporation.

Summary

• Patrick H. Kinzler, a Director of Blue Foundry Bancorp, disposed of all his direct and indirect holdings in Blue Foundry Bancorp common stock and stock options.
• This disposition occurred on April 1, 2026, for common stock, and March 30, 2026, for stock options, as a result of the merger with Fulton Financial Corporation.
• A total of 86,113 shares of common stock were disposed of (77,911 direct, 4,853 via IRA, 3,349 via Roth IRA), resulting in zero beneficial ownership.
• Each share of Blue Foundry Bancorp common stock was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock, with cash paid in lieu of fractional shares.
• 106,959 stock options with an exercise price of $11.54 were cancelled and converted into a cash payment.
• The cash payment for options was calculated as the difference between the per share consideration price ($13.6435) and the exercise price ($11.54), multiplied by the number of shares subject to the option, totaling approximately $224,961.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral-to-positive event for the reporting person, as they successfully monetized their equity and options through the merger, indicating a favorable outcome for their holdings.

Positives

• The reporting person received cash for their stock options, indicating a positive spread between the merger consideration price ($13.6435) and the option exercise price ($11.54).
• The merger with Fulton Financial Corporation has been completed, providing liquidity to shareholders and option holders of Blue Foundry Bancorp.

Negatives

• The reporting person no longer holds any direct or indirect beneficial ownership in Blue Foundry Bancorp, indicating a complete exit from the company's equity.

Future Outlook

The filing does not contain any forward-looking statements or guidance, as it primarily reports a completed insider transaction related to a merger.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects the final stages of the merger between Blue Foundry Bancorp and Fulton Financial Corporation, a common occurrence in the banking sector as consolidation continues. Such filings provide transparency into how executive and director equity holdings are handled during M&A events, which is crucial for understanding insider activity post-transaction.

Stakeholder Impact

• Shareholders of Blue Foundry Bancorp received consideration (Fulton Financial stock and/or cash) for their shares as per the merger agreement.
• The reporting person, as a director, has fully exited their equity position in the acquired entity.

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Fulton Financial Corporation, Merger, Form 4, Insider Trading, Stock Options, Common Stock, Director, Patrick H. Kinzler, Beneficial Ownership