Blue Foundry (NASDAQ: BLFY) CFO receives 22,500-share award, covers taxes

Rhea-AI Filing Summary

Blue Foundry Bancorp EVP and CFO Kelly Pecoraro received a grant of 22,500 shares of Common Stock, vesting at target under the merger agreement between Fulton Financial Corporation and Blue Foundry Bancorp. On the same date, 27,140 shares were withheld by the issuer at $13.6435 per share to satisfy tax obligations, so this was not an open-market sale.

After these transactions, Pecoraro directly holds 41,663 shares of common stock and indirectly holds 6,483 shares through an ESOP. She also has stock options on 177,000 shares of common stock with an exercise price of $11.69 per share, vesting ratably over seven years starting on October 19, 2023 and expiring on October 19, 2032.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Pecoraro Kelly

Role EVP and CFO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	22,500	$0.00	--
Tax Withholding	Common Stock	27,140	$13.6435	$370K
holding	Stock Options	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 68,803 shares (Direct); Stock Options — 177,000 shares (Direct); Common Stock — 6,483 shares (Indirect, By ESOP)

Footnotes (1)

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. Represents shares withheld by the issuer to satisfy tax obligations. 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^*

Pecoraro Kelly

(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)
	EVP and CFO

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		22,500(1)	A	$0	68,803	D
Common Stock	03/25/2026		F		27,140(2)	D	$13.6435	41,663	D
Common Stock								6,483	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	177,000(3)		177,000	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	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)

FAQ

What did Blue Foundry Bancorp (BLFY) disclose about CFO Kelly Pecoraro’s new shares?

Blue Foundry Bancorp reported that EVP and CFO Kelly Pecoraro received a grant of 22,500 shares of Common Stock. These performance shares vested at target under the merger agreement between Fulton Financial Corporation and Blue Foundry Bancorp, increasing her direct equity position.

Were any of Kelly Pecoraro’s BLFY shares sold in the market in this Form 4?

No open-market sale was reported. Instead, 27,140 shares of Blue Foundry common stock were withheld by the issuer at $13.6435 per share to satisfy tax obligations tied to the equity award, which is classified as a tax-withholding disposition.

How many BLFY shares does CFO Kelly Pecoraro hold after these transactions?

Following the reported transactions, Kelly Pecoraro directly holds 41,663 shares of Blue Foundry common stock. She also indirectly holds 6,483 shares through an ESOP, giving her a combined reported interest in both direct and ESOP-related holdings.

What stock option position does Kelly Pecoraro maintain in Blue Foundry Bancorp (BLFY)?

Kelly Pecoraro holds stock options over 177,000 shares of Blue Foundry common stock with an exercise price of $11.69 per share. These options vest ratably over seven years beginning on October 19, 2023 and expire on October 19, 2032.

How are the 22,500 BLFY shares granted to Kelly Pecoraro linked to the Fulton Financial merger?

The 22,500-share grant represents performance shares vesting at target in line with the Agreement and Plan of Merger between Fulton Financial Corporation and Blue Foundry Bancorp, aligning Pecoraro’s compensation with completion and terms of that merger transaction.

What does the tax-withholding disposition mean in Kelly Pecoraro’s BLFY Form 4?

The filing classifies 27,140 shares as a tax-withholding disposition, meaning the issuer retained those shares at $13.6435 per share to cover tax obligations from the equity award. This mechanism settles taxes and is not an open-market sale or discretionary trade.