Form 4: Insider Sells BLFY Shares, Options Post-Merger

Acela Roselle, EVP/Human Resources Director of Blue Foundry Bancorp, reported the disposition of all common stock and stock options following the merger with Fulton Financial Corporation.

Summary

• Roselle Acela, EVP/Human Resources Director, reported the disposition of all her beneficial ownership in Blue Foundry Bancorp (BLFY) common stock and stock options.
• This action was a direct result of the merger agreement between Blue Foundry Bancorp and Fulton Financial Corporation, dated November 24, 2025.
• On April 1, 2026, Acela disposed of 11,291 shares of common stock held directly, 20,000 shares held indirectly via a 401(k) plan, and 11,091 shares held indirectly via an ESOP, totaling 42,382 shares.
• 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.
• On March 30, 2026, 55,000 stock options with an exercise price of $11.69 were disposed of.
• These options, which vested ratably over seven years starting October 19, 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 of $13.6435 and the exercise price of $11.69, multiplied by the number of shares subject to the option.
• Following these transactions, Acela Roselle beneficially owns 0 shares of Blue Foundry Bancorp common stock and 0 derivative securities.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive indicator of a completed corporate action, specifically a merger, which typically aims to create shareholder value. The executive's disposition of shares and options is a standard, expected outcome of such an event.

Positives

• The transactions are a result of a completed merger, indicating a successful corporate event for shareholders.
• The stock options were converted into a cash payment, allowing the executive to realize value from vested options.

Negatives

• The reporting person no longer holds any beneficial ownership in Blue Foundry Bancorp, which is expected given the merger.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects the final stages of a banking sector merger, a common occurrence as financial institutions seek scale and efficiency. The conversion of shares and options into cash or acquiring company stock is standard practice in such transactions, indicating the successful integration or acquisition of Blue Foundry Bancorp by Fulton Financial Corporation.

Stakeholder Impact

• Shareholders of Blue Foundry Bancorp received consideration (Fulton Financial Corporation common stock and/or cash) as per the merger agreement.
• The reporting person, an executive, realized value from their equity holdings as a result of the merger.

Key Dates

Keywords

Blue Foundry Bancorp, BLFY, Fulton Financial Corporation, Merger, Form 4, Insider Trading, Stock Options, Common Stock, Executive Compensation, Acela Roselle, Disposition, Corporate Action