Beidner Elyse D. 4
4 · Blue Foundry Bancorp · Filed Apr 1, 2026
Research Summary
AI-generated summary of this filing
Blue Foundry Bancorp (BLFY) EVP Elyse Beidner Sells 103,770 Shares
What Happened
Elyse D. Beidner, Executive Vice President and Chief Legal Officer of Blue Foundry Bancorp, reported dispositions totaling 103,770 shares. The Form 4 shows four dispositions: 55,000 (derivative) on 2026-03-30 and 16,998, 20,000, and 11,772 on 2026-04-01. Prices and per-transaction dollar amounts are listed as N/A on the Form 4 because the transfers were made to the issuer under the company’s merger agreement rather than open-market sales.
Key Details
- Transaction dates: 2026-03-30 (55,000 derivative) and 2026-04-01 (16,998; 20,000; 11,772). All transactions coded D (Disposition to Issuer).
- Total shares disposed: 103,770 shares. Reported prices/values: N/A on the Form 4.
- Shares owned after the transactions: not disclosed in the provided filing excerpt.
- Relevant footnotes from the filing:
- F1: Under the Merger Agreement with Fulton Financial Corporation, each issued Blue Foundry share was converted into the right to receive 0.650 shares of Fulton common stock (cash paid in lieu for fractional shares).
- F3: Outstanding options (vested or unvested) were cancelled and converted into a cash payment equal to (exercise price difference) × number of option shares, using a per-share consideration price of $13.6435.
- F2: (Context) Stock options vest ratably over seven years beginning Oct 19, 2023.
- Filing date: Form 4 filed 2026-04-01 reporting transactions through 2026-03-30; appears to be filed within the standard Form 4 timeframe.
Context
These dispositions are tied to Blue Foundry’s merger with Fulton Financial and reflect conversion/cash-out mechanics (conversion into Fulton shares and cash payments for cancelled options), not routine open-market selling by the insider. The derivative line (55,000) reflects option cancellation/cash-out under the merger terms (see F3). Because amounts are converted under the merger and Form 4 lists N/A for trade prices, the filing does not provide a market dollar value for the insider’s proceeds.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-04-01−16,998→ 0 total - Disposition to Issuer
Common Stock
[F1]2026-04-01−20,000→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
[F1]2026-04-01−11,772→ 0 total(indirect: By ESOP) - Disposition to Issuer
Stock Options
[F3][F2]2026-03-30−55,000→ 0 totalExercise: $11.69Exp: 2032-10-19→ Common Stock (55,000 underlying)
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of November 24, 2025 (the "Merger Agreement"), by and between the Issuer and Fulton Financial Corporation, each issued and outstanding share of Issuer common stock was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock (subject to the payment of cash in lieu of fractional shares).
- [F2]Stock options vest ratably for seven years commencing on October 19, 2023.
- [F3]In accordance with the Merger Agreement, each option to acquire common stock of the Issuer that is outstanding immediately prior to the effective time of the merger (whether vested or unvested), was cancelled and converted into the right to receive a cash payment, less applicable taxes and other withholdings, equal to the difference between the exercise price of the option and the per share consideration price ($13.6435), multiplied by the number of shares subject to such option.