Nesci James D 4

What Happened

• James D. Nesci, President & CEO and Director of Blue Foundry Bancorp (BLFY), received 57,045 performance shares that vested on March 25, 2026 (reported as an Award/Grant).
• To satisfy tax obligations, 80,297 shares were withheld/disposed at $13.64 per share, generating proceeds of $1,095,532. The award itself shows an acquisition value of $0 on the Form 4 because these were vested performance shares granted under the merger agreement.

Key Details

• Transaction dates: March 25, 2026 (reported on Form 4 filed March 27, 2026). Filing appears timely (filed within the required reporting window).
• Award: 57,045 shares acquired (code A) at $0.00 (vesting of performance shares).
• Tax withholding/disposition: 80,297 shares disposed (code F) at $13.64, total value $1,095,532.
• Shares owned after the transaction: not specified in the provided filing.
• Relevant footnotes from the filing:
  • F1: Vesting of performance shares at target per the Agreement and Plan of Merger between Fulton Financial Corporation and Blue Foundry.
  • F2: Represents shares withheld by the issuer to satisfy tax obligations (i.e., tax withholding rather than an open-market sale).
  • F3: Notes that stock options vest ratably over seven years beginning Oct 19, 2023 (background on other equity awards; not part of this specific transaction).

Context

• This transaction reflects vesting of performance shares and standard tax withholding by the issuer, not an open-market investment or active sale by the insider. Tax-withholding dispositions are routine following equity vesting and do not by themselves indicate the insider’s view of the company’s stock.