Grimbilas Kenneth 4

4 · Blue Foundry Bancorp · Filed Apr 1, 2026

AI-generated summary of this filing

Updated Apr 1, 2026

Blue Foundry (BLFY) Director Kenneth Grimbilas Surrenders 207,924 Shares

What Happened

Kenneth Grimbilas, a director of Blue Foundry Bancorp (BLFY), reported dispositions to the issuer tied to the company's merger with Fulton Financial. The filing shows he surrendered a total of 207,924 Blue Foundry shares: 100,965 common shares (59,848 and 41,117) reported 2026-04-01 and 106,959 derivative shares (reported 2026-03-30).
The transactions are labeled as dispositions to the issuer (not open-market sales). Footnotes indicate Blue Foundry stock was converted under the Merger Agreement into the right to receive 0.650 shares of Fulton Financial common stock (cash paid in lieu of fractional shares). Options outstanding were cancelled and converted into a cash payment equal to (exercise price subtracted from the per-share consideration price $13.6435) × number of option shares.

Key Details

Transaction dates: 2026-03-30 (derivative disposition) and 2026-04-01 (common share dispositions). Reported on Form 4 filed 2026-04-01.
Reported prices: N/A (shares converted/turned in to issuer under merger terms rather than sold on the open market).
Shares surrendered: 59,848 and 41,117 common shares; 106,959 derivative shares (options/other equity interests) — total 207,924.
Shares owned after transaction: not specified in the provided filing data.
Relevant footnotes: F1 (conversion to 0.65 Fulton shares per Blue Foundry share; cash for fractional shares), F3 (options cancelled and converted to a cash payment using per-share consideration $13.6435).
Filing timeliness: Form 4 was filed on 2026-04-01 for transactions through 2026-03-30; the filing appears timely.

Context

"Disposition to the issuer" here reflects the mechanics of the merger — shareholders received Fulton consideration rather than selling in the open market. Derivative dispositions reflect cancellation/settlement of options in cash per the merger agreement, not a conventional option exercise followed by market sale.
These transactions are merger-driven and therefore primarily corporate-transaction related, not necessarily indicative of the insider's trading sentiment.

Form 4Exit

Period: 2026-03-30

Director

Transactions

Disposition to Issuer
Common Stock
[F1]
2026-04-01−59,848→ 0 total
Disposition to Issuer
Common Stock
[F1]
2026-04-01−41,117→ 0 total(indirect: By IRA)
Disposition to Issuer
Stock Options
[F3][F2]
2026-03-30−106,959→ 0 total
Exercise: $11.54Exp: 2032-08-26→ Common Stock (106,959 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 at a rate of 20% per year commencing on August 26, 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.

Signature

/s/ Mary M. Russell, pursuant to Power of Attorney|2026-04-01

1 file