Blue Foundry Bancorp (BLFY) director disposes shares, options in Fulton merger

Rhea-AI Filing Summary

Blue Foundry Bancorp director John F. Kuntz reported disposing of his remaining equity in connection with the company’s merger with Fulton Financial Corporation. The filing shows a disposition to the issuer of 21,255 shares of common stock, leaving him with zero shares reported after the transaction.

The merger agreement provides that each Blue Foundry common share was converted into the right to receive 0.650 shares of Fulton Financial common stock, with cash paid in lieu of fractional shares. In a related step, 48,133 stock options with a $9.95 exercise price and a November 1, 2034 expiration 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 optioned shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider KUNTZ JOHN F

Role Director

Type	Security	Shares	Price	Value
Disposition	Common Stock	21,255	$0.00	--
Disposition	Stock Options	48,133	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Direct); Stock Options — 0 shares (Direct)

Footnotes (1)

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 at a rate of 20% per year commencing on November 1, 2025. 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

Common shares disposed: 21,255 shares Options cancelled: 48,133 options Option exercise price: $9.95/share +5 more

8 metrics

Common shares disposed 21,255 shares Disposition to issuer reported on Form 4

Options cancelled 48,133 options Stock options converted to cash under merger terms

Option exercise price $9.95/share Exercise price of cancelled stock options

Per share consideration $13.6435/share Merger consideration used to calculate option cashout

Share exchange ratio 0.650 shares Fulton Financial common stock per Blue Foundry share

Option expiration November 1, 2034 Original expiry of cancelled options

Post-transaction common holdings 0 shares Common stock reported after disposition

Post-transaction option holdings 0 options Options reported after cancellation and cashout

Key Terms

Agreement and Plan of Merger, per share consideration price, stock options, vest, +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.

per share consideration price financial

"equal to the difference between the exercise price of the option and the per share consideration price ($13.6435)..."

stock options financial

"Stock options vest at a rate of 20% per year commencing on November 1, 2025."

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

vest financial

"Stock options vest at a rate of 20% per year commencing on November 1, 2025."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

disposition to issuer financial

"transaction_action": "issuer disposition""

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

X

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^*

KUNTZ JOHN F

(Last) (First) (Middle)

19 PARK AVE

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

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	04/01/2026		D		21,255	D	(1)	0	D

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	$9.95	03/30/2026		D			48,133	(2)	11/01/2034	Common Stock	48,133(2)	(3)	0	D

Explanation of Responses:

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).

2. Stock options vest at a rate of 20% per year commencing on November 1, 2025.

3. 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.

Remarks:

	/s/ Mary M. Russell, pursuant to Power of Attorney	04/01/2026
	** 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 insider transaction did Blue Foundry Bancorp (BLFY) director John F. Kuntz report?

John F. Kuntz reported disposing of 21,255 shares of Blue Foundry common stock back to the issuer. This disposition occurred in connection with the closing of a merger with Fulton Financial, and the filing shows zero common shares remaining held after the transaction.

How were Blue Foundry Bancorp (BLFY) shares treated in the Fulton Financial merger?

Each Blue Foundry common share was converted into the right to receive 0.650 shares of Fulton Financial common stock. Holders also received cash instead of fractional shares, reflecting the agreed exchange ratio in the merger between Blue Foundry Bancorp and Fulton Financial Corporation.

What happened to John F. Kuntz’s Blue Foundry (BLFY) stock options in the merger?

A total of 48,133 Blue Foundry stock options held by John F. Kuntz were cancelled at closing. Under the merger terms, each option converted into a cash payment equal to the difference between the $13.6435 per share consideration and the $9.95 exercise price, multiplied by optioned shares.

Did John F. Kuntz retain any Blue Foundry Bancorp (BLFY) equity after these Form 4 transactions?

According to the filing, John F. Kuntz reported zero Blue Foundry common shares and zero related options following the transactions. The disposition of shares and cancellation of options reflect the treatment of his equity under the completed merger with Fulton Financial Corporation.

Was the Blue Foundry Bancorp (BLFY) insider transaction an open-market sale?

No, the transaction is coded as a disposition to the issuer rather than an open-market sale. The reported actions are tied to the merger process, where shares and options were converted under the agreement’s terms rather than traded on the open market.