Pecoraro Kelly 4

What Happened
Kelly Pecoraro, EVP and Chief Financial Officer of Blue Foundry Bancorp (BLFY), had 2,806 shares withheld by the company to satisfy tax obligations related to equity vesting/exercise. The filing lists the shares as “Disposed” at $13.01 per share for a total value of $36,506. This was a tax-withholding disposal (routine), not an open-market sale or new purchase.

Key Details

• Transaction date: 2026-03-06
• Report filed: 2026-03-10 (filed timely)
• Price per share: $13.01; total value: $36,506
• Transaction code: F — tax withholding (shares withheld by issuer to satisfy tax obligations)
• Shares owned after the transaction: Not disclosed in the provided filing
• Relevant footnotes:
  • F1: Shares withheld by the issuer to satisfy tax obligations.
  • F3: Related stock options vest ratably over seven years beginning Oct 19, 2023.
  • F2: Indicates some transactions may not be required to be reported under Section 16 (as noted in the filing).

Context
This was a tax-withholding event tied to equity vesting/exercise (issuer withheld shares rather than a cash payment). Such withholding is routine and does not necessarily signal a change in the insider’s view of the company. For readers: purchases signal added insider confidence more clearly than tax-withholding disposals, which are administrative.