Form 4: Director Sells Blue Foundry Bancorp Shares Post-Merger

Mirella Lang, a director of Blue Foundry Bancorp, reported the disposition of common stock and cancellation of stock options following the merger with Fulton Financial Corporation.

Summary

• Mirella Lang, a director of Blue Foundry Bancorp, reported changes in her beneficial ownership due to the merger with Fulton Financial Corporation.
• On April 1, 2026, 44,028 shares of Blue Foundry Bancorp common stock were disposed of, resulting in zero shares beneficially owned.
• Each outstanding 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 in lieu of fractional shares.
• On March 30, 2026, 106,959 stock options with an exercise price of $11.54 were disposed of.
• These stock options, which vested at a rate of 20% per year commencing August 26, 2023, 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 option exercise price ($11.54), multiplied by the number of shares subject to the option.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a mandatory report of a completed insider transaction stemming from a corporate merger, rather than an indicator of operational performance or future outlook.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance, as it reports a completed insider transaction resulting from a merger.

Industry Context

StockSavvy.ai notes that this transaction reflects the finalization of a merger, a common occurrence in the financial services sector as institutions seek scale and operational efficiencies. Such consolidation can lead to changes in executive and director holdings as companies integrate.

Stakeholder Impact

• Shareholders of Blue Foundry Bancorp received shares of Fulton Financial Corporation common stock or cash in lieu of fractional shares as a result of the merger.
• The reporting person, a director, no longer holds direct beneficial ownership of Blue Foundry Bancorp common stock or options following the merger.

Key Dates

Keywords

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