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Blue Foundry (BLFY) CEO has 8,337 shares withheld to cover taxes

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Blue Foundry Bancorp President and CEO James D. Nesci reported a routine tax-related share disposition. On March 6, 2026, 8,337 shares of common stock were withheld by the issuer at $13.01 per share to satisfy tax obligations, rather than sold on the open market. After this, he directly holds 136,430 common shares and also has indirect holdings through an IRA, 401(k) and ESOP, plus stock options on 570,450 underlying shares exercisable at $11.69 until October 19, 2032.

Positive

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Negative

  • None.
Insider Nesci James D
Role President and CEO
Type Security Shares Price Value
Tax Withholding Common Stock 8,337 $13.01 $108K
holding Stock Options -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 136,430 shares (Direct); Stock Options — 570,450 shares (Direct); Common Stock — 36,882 shares (Indirect, By IRA)
Footnotes (1)
  1. Represents shares withheld by the issuer to satisfy tax obligations. Reflects transactions not required to be reported pursuant to Section 16 of the Securities Act of 1934, as amended. Stock options vest ratably for seven years commencing on October 19, 2023.
Form 4 Insider Transactions: What Each Field Means →
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*
Nesci James D
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
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 8,337(1) D $13.01 136,430 D
Common Stock 36,882 I By IRA
Common Stock 8,500 I By 401(k)
Common Stock 11,772(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 570,450(3) 570,450 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Blue Foundry Bancorp (BLFY) CEO report in this Form 4 filing?

Blue Foundry Bancorp CEO James D. Nesci reported that 8,337 common shares were withheld by the issuer to cover tax obligations. This was a tax-withholding disposition, not an open-market sale, and reflects routine handling of equity-based compensation.

How many Blue Foundry (BLFY) shares were withheld for James Nesci’s taxes and at what price?

The issuer withheld 8,337 Blue Foundry Bancorp common shares from James Nesci at a value of $13.01 per share. This satisfied tax obligations tied to his equity compensation, rather than representing a discretionary market sale of shares.

How many Blue Foundry (BLFY) shares does CEO James Nesci hold directly after this Form 4?

After the tax-withholding transaction, James Nesci directly holds 136,430 shares of Blue Foundry Bancorp common stock. This direct position excludes additional indirect holdings through retirement and employee plans that are shown separately in the Form 4.

What stock options position does the Blue Foundry (BLFY) CEO report in this filing?

James Nesci reports stock options linked to 570,450 underlying Blue Foundry Bancorp common shares, exercisable at $11.69 per share. The options vest ratably over seven years starting October 19, 2023, and are scheduled to expire on October 19, 2032.

Are the reported Blue Foundry (BLFY) CEO transactions open-market buys or sells?

The reported transaction is a tax-withholding disposition, where 8,337 shares were retained by the issuer to cover tax obligations. It is not an open-market purchase or sale and therefore carries limited information about the CEO’s view on the stock.

Does the Blue Foundry (BLFY) Form 4 show indirect holdings for the CEO?

Yes. The filing shows James Nesci holds additional Blue Foundry Bancorp common shares indirectly through an IRA, a 401(k), and an ESOP. These indirect positions supplement his direct share ownership and his significant stock option position disclosed in the filing.