Packwood Thomas 4

What Happened

• Packwood Thomas, Senior Vice President and Chief Audit Officer of Blue Foundry Bancorp (BLFY), received an award of 5,750 performance shares that vested on March 25, 2026. The award shows acquisition at $0.00 (no cash paid).
• On the same date the issuer withheld 8,400 shares to satisfy tax obligations (reported as a disposition) at $13.64 per share, a value of $114,605. The withholding is recorded on the Form 4 but is a tax settlement, not an open-market sale.

Key Details

• Transaction date: 2026-03-25; Form 4 filed: 2026-03-27 (appears timely).
• Award: 5,750 performance shares granted/vested (code A) — acquisition price $0.00.
• Withholding: 8,400 shares withheld to satisfy taxes (code F) at $13.64/share = $114,605 reported as disposed.
• Shares owned after the transaction: not specified in the provided filing excerpt — see the full SEC filing for total holdings.
• Footnotes: Vesting occurred “at target” under the Agreement and Plan of Merger between Fulton Financial Corporation and Blue Foundry Bancorp (F1). Shares were withheld to satisfy tax obligations (F2). Note also that stock options referenced in disclosures vest ratably over seven years beginning Oct 19, 2023 (F3).

Context

• This is a routine equity award vesting with issuer share-withholding to cover taxes. Withholding appears as a disposal on Form 4 but does not necessarily indicate an intention to sell shares in the open market.
• For retail investors, awards and tax-withholding are common executive compensation mechanics and should not be interpreted alone as a bullish or bearish signal.