Blue Foundry CRO shares converted in Fulton merger
Blue Foundry Bancorp Chief Risk Officer Keith Owes reported a disposition of 8,982 shares of common stock back to the company in connection with its merger with Fulton Financial Corporation.
Rhea-AI Filing Summary
Blue Foundry Bancorp Chief Risk Officer Keith Owes reported a disposition of 8,982 shares of common stock back to the company in connection with its merger with Fulton Financial Corporation. Under the merger agreement, each Blue Foundry share was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock, with cash paid instead of any fractional shares. Following this transaction, Owes reported owning 0 shares of Blue Foundry common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,982 shares
Net Sell
1 txn
Insider
Owes Keith
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 8,982 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (1)
- 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).
Key Figures
Shares disposed: 8,982 shares
Exchange ratio: 0.650 shares
Post-transaction holdings: 0 shares
3 metrics
Shares disposed
8,982 shares
Common stock returned to issuer in merger-related disposition
Exchange ratio
0.650 shares
Fulton Financial Corporation stock per Blue Foundry share
Post-transaction holdings
0 shares
Direct Blue Foundry common stock held by Keith Owes after disposition
Key Terms
Agreement and Plan of Merger, Disposition to issuer, Merger Agreement
3 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated as of November 24, 2025"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
Merger Agreement regulatory
"dated as of November 24, 2025 (the "Merger Agreement"), by and between the Issuer"
A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.
FAQ
What insider transaction did Blue Foundry Bancorp (BLFY) report for Keith Owes?
Blue Foundry Bancorp reported that Chief Risk Officer Keith Owes disposed of 8,982 shares of common stock back to the company. The disposition occurred as part of the closing mechanics of the company’s merger with Fulton Financial Corporation, rather than as an open-market trade.
What were the merger exchange terms affecting Blue Foundry Bancorp (BLFY) insiders?
Under the merger agreement, each issued and outstanding share of Blue Foundry Bancorp common stock was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock. The agreement also provided for cash payments instead of issuing fractional Fulton shares to holders.
Was Keith Owes’ Blue Foundry Bancorp (BLFY) transaction an open-market sale?
The transaction was not an open-market sale. It was coded as a disposition to the issuer, reflecting mechanical conversion of his 8,982 Blue Foundry shares into merger consideration under the agreement with Fulton Financial Corporation, rather than a discretionary sale on the stock market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
