Blue Foundry (NASDAQ: BLFY) EVP swaps shares and options in Fulton deal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Blue Foundry Bancorp EVP/Human Resources Director Roselle Acela disposed of her Blue Foundry equity in connection with the company’s merger with Fulton Financial Corporation. The filing shows issuer dispositions of 11,291 shares of common stock held directly, 20,000 shares held through a 401(k), and 11,091 shares held through an ESOP.
Each Blue Foundry common share was converted into the right to receive 0.650 shares of Fulton Financial Corporation common stock under the merger agreement. In addition, 55,000 stock options with a strike price of $11.69 were cancelled and converted into a cash payment based on the difference between the $13.6435 per share consideration and the exercise price, multiplied by the option share count. Following these transactions, the filing reports zero Blue Foundry shares and options remaining for Acela.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Roselle Acela
Role
EVP/Human Resources Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 11,291 | $0.00 | -- |
| Disposition | Common Stock | 20,000 | $0.00 | -- |
| Disposition | Common Stock | 11,091 | $0.00 | -- |
| Disposition | Stock Options | 55,000 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By 401(k));
Stock Options — 0 shares (Direct)
Footnotes (1)
- 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). Stock options vest ratably for seven years commencing on October 19, 2023. 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.
Key Figures
Direct common shares disposed: 11,291 shares
401(k) shares disposed: 20,000 shares
ESOP shares disposed: 11,091 shares
+4 more
7 metrics
Direct common shares disposed
11,291 shares
Issuer disposition of directly held Blue Foundry common stock
401(k) shares disposed
20,000 shares
Issuer disposition of Blue Foundry shares held by 401(k)
ESOP shares disposed
11,091 shares
Issuer disposition of Blue Foundry shares held by ESOP
Stock options cancelled
55,000 options
Options on Blue Foundry common stock cancelled for cash
Option exercise price
$11.69 per share
Strike price of cancelled Blue Foundry stock options
Merger per share consideration
$13.6435 per share
Cash value used to calculate option cancellation payout
Share exchange ratio
0.650 shares
Fulton Financial shares received per Blue Foundry share
Key Terms
Agreement and Plan of Merger, per share consideration price, ESOP, 401(k), +1 more
5 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.
ESOP financial
"nature_of_ownership: By ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
401(k) financial
"nature_of_ownership: By 401(k)"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
stock options vest ratably financial
"Stock options vest ratably for seven years commencing on October 19, 2023."
FAQ
What insider transaction did Blue Foundry Bancorp (BLFY) report for Roselle Acela?
Blue Foundry reported that EVP/Human Resources Director Roselle Acela disposed of all reported Blue Foundry common stock and stock options. The transactions were issuer dispositions tied to the merger with Fulton Financial Corporation, leaving her with no remaining Blue Foundry shares or options.
What happened to Roselle Acela’s Blue Foundry (BLFY) stock options in the merger?
Acela’s 55,000 stock options with an $11.69 exercise price were cancelled and converted into a cash payment. The cash amount equals the difference between the $13.6435 per share merger consideration and the exercise price, multiplied by 55,000, less applicable taxes and withholdings.
Does Roselle Acela still hold any Blue Foundry Bancorp (BLFY) equity after these transactions?
According to the filing, Roselle Acela’s total shares following each reported transaction are zero. That means no remaining Blue Foundry common stock or related stock options are listed for her after the merger-related issuer dispositions described in this Form 4.