Blue Foundry (NASDAQ: BLFY) EVP reports tax withholding of 1,013 shares

Rhea-AI Filing Summary

Blue Foundry Bancorp EVP and Chief Tech Officer Aleksandr Malkiman had shares withheld for taxes, not sold on the market. On March 6, 2026, 1,013 shares of common stock were withheld by the issuer at $13.01 per share to satisfy tax obligations.

After this tax-withholding disposition, he directly holds 20,496 common shares and indirectly holds 6,278 shares through an ESOP. He also has stock options over 68,800 common shares with an exercise price of $11.69 per share, expiring on October 19, 2032, which vest ratably over seven years starting October 19, 2023.

Insights

Equity compensation analyst

Routine tax withholding; no open-market buying or selling by the executive.

The key event is an F-code transaction where Aleksandr Malkiman, EVP and Chief Tech Officer of Blue Foundry Bancorp, had 1,013 common shares withheld at $13.01 per share to cover tax obligations. Footnotes state this represents shares withheld by the issuer, not an elective market sale.

The filing also shows a continuing equity stake: 20,496 common shares held directly, 6,278 shares held indirectly via an ESOP, and stock options over 68,800 common shares at an exercise price of $11.69 expiring on October 19, 2032. These options vest ratably over seven years from October 19, 2023, indicating a long-term, time-based compensation structure rather than a short-term trading move.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Malkiman Aleksandr

(Last) (First) (Middle)

19 PARK AVENUE

(Street)

RUTHERFORD NJ 07070

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Blue Foundry Bancorp [ BLFY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Tech Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/06/2026		F		1,013(1)	D	$13.01	20,496	D
Common Stock								6,278(2)	I	By ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	$11.69							10/19/2023	10/19/2032	Common Stock	68,800(3)		68,800	D

Explanation of Responses:

1. Represents shares withheld by the issuer to satisfy tax obligations.

2. Reflects transactions not required to be reported pursuant to Section 16 of the Securities Act of 1934, as amended.

3. Stock options vest ratably for seven years commencing on October 19, 2023.

Remarks:

	/s/ Kelly Pecoraro, pursuant to Power of Attorney	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Blue Foundry Bancorp EVP Aleksandr Malkiman report in this Form 4 for BLFY?

He reported a tax-withholding disposition where 1,013 Blue Foundry Bancorp common shares were withheld by the issuer at $13.01 per share. This covered tax obligations and was not an open-market sale, while he retained a substantial direct and indirect share position.

Was there an open-market sale or purchase of BLFY stock by Aleksandr Malkiman?

No open-market buy or sell was reported. The only share movement was an F-code tax-withholding disposition of 1,013 common shares, withheld by Blue Foundry Bancorp to satisfy tax obligations, which does not represent a discretionary market transaction by the executive.

How many Blue Foundry Bancorp shares does Aleksandr Malkiman hold after this Form 4?

After the tax withholding, he directly holds 20,496 BLFY common shares and indirectly holds 6,278 shares through an ESOP. These holdings, combined with significant outstanding options, indicate continued equity exposure following the reported transaction.

What stock options in BLFY does Aleksandr Malkiman have according to this filing?

He holds stock options over 68,800 Blue Foundry Bancorp common shares with an exercise price of $11.69 per share. These options expire on October 19, 2032 and vest ratably over seven years beginning October 19, 2023, reflecting long-term incentive alignment.

How is the F-code transaction in this BLFY Form 4 described?

The F-code transaction is described as payment of tax liability by delivering securities. Footnotes clarify the 1,013 Blue Foundry Bancorp shares were withheld by the issuer to satisfy tax obligations, classifying it as tax withholding rather than a voluntary sale of stock.

What does the ESOP holding in this BLFY Form 4 represent for Aleksandr Malkiman?

The filing shows 6,278 BLFY common shares held indirectly "By ESOP." This indicates an employee stock ownership plan position attributed as indirect ownership, providing additional equity exposure alongside his directly held shares and unexercised stock options.