Form 4: Director Kuntz Sells BLFY Shares Post-Merger

Blue Foundry Bancorp Director John F. Kuntz disposed of all his common stock and stock options following the merger with Fulton Financial Corporation.

Summary

• Director John F. Kuntz reported changes in beneficial ownership of Blue Foundry Bancorp (BLFY) securities.
• Kuntz disposed of 21,255 shares of BLFY common stock on April 1, 2026.
• These shares were converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock per BLFY share, as part of the merger agreement dated November 24, 2025.
• Kuntz also disposed of 48,133 stock options with an exercise price of $9.95 on March 30, 2026.
• These options were cancelled and converted into a cash payment based on a per-share consideration price of $13.6435.
• The cash payment for each option was $3.6935 ($13.6435 $9.95).
• Following these transactions, Kuntz beneficially owns 0 shares of common stock and 0 derivative securities of Blue Foundry Bancorp.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it confirms the successful completion of a merger and the realization of value for a director's equity holdings. It reflects the expected outcome of a corporate acquisition.

Positives

• The merger agreement provided a clear exit strategy and value realization for Blue Foundry Bancorp shareholders and option holders.
• Director Kuntz received cash for his stock options, indicating a positive outcome for his equity incentives.

Negatives

• The filing indicates the cessation of Blue Foundry Bancorp as an independent entity, as its shares are converted into those of Fulton Financial Corporation.

Future Outlook

The filing primarily reports past transactions related to a completed merger and does not provide forward-looking statements or guidance for Blue Foundry Bancorp, which is now part of Fulton Financial Corporation.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects the final stages of a merger transaction, a common occurrence in the banking sector as smaller regional banks are often acquired by larger financial institutions seeking to expand market share or achieve economies of scale. The conversion of shares and options into the acquiring company's stock or cash is standard practice in such consolidations.

Comparison to Industry Standards

• The exchange ratio of 0.650 shares of Fulton Financial Corporation common stock for each Blue Foundry Bancorp share is consistent with valuation multiples observed in recent regional bank acquisitions, such as the acquisition of Sterling Bancorp by Webster Financial Corporation or the merger of People's United Financial with M&T Bank Corporation, where similar premiums and stock-for-stock considerations were common.
• The cash-out of stock options at the difference between the merger consideration price and the exercise price is a standard industry practice to ensure option holders realize value from their equity incentives during an acquisition.

Management Changes

Stakeholder Impact

• Shareholders of Blue Foundry Bancorp received shares of Fulton Financial Corporation or cash in lieu of fractional shares, realizing value from their investment.
• Option holders, such as Director Kuntz, received cash payments for their options, converting their equity incentives into liquid assets.

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Fulton Financial Corporation, Merger, Form 4, Insider Trading, Stock Options, Director, Equity Disposal, Beneficial Ownership