Blue Foundry (NASDAQ: BLFY) CEO gets 57K-share grant, 80K withheld for taxes
Rhea-AI Filing Summary
Blue Foundry Bancorp President and CEO James D. Nesci reported compensation-related equity activity in company stock. On March 25, 2026, he acquired 57,045 shares of Common Stock at $0.00 per share as a grant or award, reflecting vesting of performance shares at target under the merger agreement between Fulton Financial Corporation and Blue Foundry Bancorp.
On the same date, 80,297 Common shares were disposed of at $13.6435 per share to satisfy tax obligations, a withholding transaction rather than an open-market sale. After these transactions, Nesci directly held 113,178 Common shares, with additional indirect holdings through an IRA, ESOP, and 401(k). He also holds stock options over 570,450 underlying Common shares at an exercise price of $11.69 per share, expiring in October 2032, vesting ratably over seven years beginning in October 2023.
Positive
- None.
Negative
- None.
Insights
Routine CEO equity grant with tax withholding; no open-market trading.
The report shows James D. Nesci, President and CEO of Blue Foundry Bancorp, receiving 57,045 Common shares as a performance-based grant tied to the merger with Fulton Financial Corporation. This is standard executive equity compensation, recorded at $0.00 per share.
A separate entry disposes of 80,297 shares at $13.6435 per share to cover tax obligations, explicitly described as shares withheld by the issuer. This F-code transaction is not an open-market sale and carries limited signaling value about Nesci’s view of the stock.
The filing also lists stock options over 570,450 underlying shares at an exercise price of $11.69, vesting annually over seven years starting October 19, 2023 and expiring in October 2032. This indicates a substantial remaining long-term equity stake, suggesting these transactions are primarily administrative around compensation rather than portfolio rebalancing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 57,045 | $0.00 | -- |
| Tax Withholding | Common Stock | 80,297 | $13.6435 | $1.10M |
| holding | Stock Options | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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.
