CFSB director reports merger-related $14.25/share cash consideration
Rhea-AI Filing Summary
CFSB Bancorp (CFSB) director reported the cash-out of equity in connection with a completed merger. At the Effective Time, each share of common stock was converted into the right to receive $14.25 per share in cash, without interest.
The filing shows dispositions that reduced holdings to zero: 11,000 shares held directly, 100 shares held indirectly by a child, and 100 shares held indirectly by a spouse as custodian. Unvested restricted stock vested in full at closing and was eligible for the cash consideration. Stock options with a per‑share exercise price of $9.09 covering 14,000 underlying shares were cancelled in exchange for cash based on the stated formula. All transactions are dated 10/31/2025.
Positive
- None.
Negative
- None.
Insights
Form 4 records cash-out of director equity at $14.25/share.
The event reflects a merger close where common shares were converted into a cash right of $14.25 per share. Reported positions went to zero: 11,000 direct shares and two 100-share indirect positions. This is standard post-merger housekeeping recorded on 10/31/2025.
Unvested restricted stock vested at closing and participated in the merger consideration. Options with a $9.09 exercise price over 14,000 shares were cancelled for cash using the disclosed formula. Actual proceeds depend on the option spread and withholding.
This is an administrative outcome of a completed deal rather than a new strategic action. Investor impact is neutral; it documents consideration mechanics and the director’s exit from equity ownership.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options | 14,000 | $0.00 | -- |
| Disposition | Common Stock | 11,000 | $0.00 | -- |
| Disposition | Common Stock | 100 | $0.00 | -- |
| Disposition | Common Stock | 100 | $0.00 | -- |
Footnotes (1)
- Pursuant to the Agreement and Plan of Merger dated as of May 20, 2025, by and among Hometown Financial Group, MHC, Hometown Financial Group, Inc., Hometown Financial Acquisition Corp. II, 15 Beach, MHC and the Issuer (the "Merger Agreement"), at the Effective Time (as defined in the Merger Agreement), each issued and outstanding share of Common Stock of the Issuer was converted automatically into the right to receive cash in an amount equal to $14.25 per share without interest (the "Merger Consideration"). Pursuant to the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time, and were considered outstanding shares of common stock entitled to receive the Merger Consideration, net of all applicable withholding taxes. Pursuant to the Merger Agreement, each outstanding and unexercised option immediately prior to the Effective Time, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such option, net of all applicable withholding taxes.
