Blue Foundry SVP receives stock grant, tax withholding

Blue Foundry Bancorp SVP Chief Audit Officer Thomas Packwood reported equity compensation changes.

Rhea-AI Filing Summary

Blue Foundry Bancorp SVP Chief Audit Officer Thomas Packwood reported equity compensation changes. He received 5,750 shares of common stock at no cost as performance shares vested at target under the merger agreement between Fulton Financial Corporation and Blue Foundry Bancorp. To satisfy tax obligations, 8,400 shares were withheld by the issuer at $13.6435 per share, a non-market disposition. Following these transactions, he holds 11,600 shares directly, plus 11,241 shares indirectly through an ESOP and 5,000 shares through a 401(k). He also holds stock options on 55,000 shares at a $11.69 exercise price, vesting ratably over seven years beginning October 19, 2023 and expiring October 19, 2032.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Packwood Thomas

Role SVP Chief Audit Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,750	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	8,400	$13.6435	$115K
holding	Stock Options	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,600 shares (Direct); Stock Options — 55,000 contracts (Direct); Common Stock — 11,241 shares (Indirect, By ESOP); Common Stock — 5,000 shares (Indirect, By 401(k))

Footnotes (3)

1. F1. Vesting of performance shares at target in accordance with the Agreement and Plan of Merger by and between Fulton Financial Corporation and Blue Foundry Bancorp.
2. F2. Represents shares withheld by the issuer to satisfy tax obligations.
3. F3. Stock options vest ratably for seven years commencing on October 19, 2023.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider stock transactions did BLFY executive Thomas Packwood report?

Thomas Packwood reported a grant of 5,750 Blue Foundry Bancorp common shares and tax withholding on 8,400 shares. The grant reflects vested performance shares, while the withheld shares were used to cover tax obligations rather than sold in the open market.

How many Blue Foundry Bancorp shares does Thomas Packwood hold after this Form 4?

After these transactions, Thomas Packwood holds 11,600 Blue Foundry Bancorp shares directly. He also has 11,241 shares held indirectly through an ESOP and 5,000 shares through a 401(k), providing additional indirect exposure to the company’s common stock.

Was the 8,400-share disposition by BLFY’s SVP an open-market sale?

No, the 8,400-share disposition was tax withholding, not an open-market sale. The issuer withheld these shares at $13.6435 per share to satisfy Packwood’s tax obligations related to the equity award vesting, a common administrative transaction.

What stock option position does Thomas Packwood retain in BLFY?

Packwood holds stock options linked to 55,000 shares of Blue Foundry Bancorp common stock at an $11.69 exercise price. These options vest ratably over seven years starting October 19, 2023 and expire on October 19, 2032, indicating a long-dated incentive position.

How are the 5,750 BLFY shares granted to Thomas Packwood characterized?

The 5,750 shares were granted as vested performance shares at target under the merger agreement between Fulton Financial Corporation and Blue Foundry Bancorp. They were acquired at no cash cost to Packwood, representing equity-based compensation rather than a market purchase.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/27/2026 - 02:27 PM EDT Learn about SEC filing dates

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^*

Packwood Thomas

(Last) (First) (Middle)

19 PARK AVENUE

(Street)

RUTHERFORD NEW JERSEY 07070

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	SVP Chief Audit Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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

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

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

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	03/25/2026		A		5,750(1)	A	$0	20,000	D
Common Stock	03/25/2026		F		8,400(2)	D	$13.6435	11,600	D
Common Stock								11,241	I	By ESOP
Common Stock								5,000	I	By 401(k)

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	55,000(3)		55,000	D

Explanation of Responses:

1. Vesting of performance shares at target in accordance with the Agreement and Plan of Merger by and between Fulton Financial Corporation and Blue Foundry Bancorp.

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

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

Remarks:

	/s/ Kelly Pecoraro, pursuant to Power of Attorney	03/27/2026
	** 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.
* Form 4: SEC 1474 (03-26)