Citizens Community (CZWI) director shifts shares from LLC to direct holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Citizens Community Bancorp Inc. director Francis E. Felber reported an internal restructuring of how his shares are held, rather than an open-market trade. On September 9, 2025, Ag Risk Managers LLC, an entity of which he is a member and president, distributed its Citizens Community Bancorp common stock to its members.
Felber received 3,845 shares from this LLC distribution, reflecting his pecuniary interest. Following the transactions reported for that date, he held 23,795 shares directly, 12,690 shares indirectly through a self-directed IRA, and 0 shares indirectly through the LLC. The Form 4 characterizes the LLC-related movements as “Other acquisition or disposition,” indicating entity-level restructuring rather than a conventional purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FELBER FRANCIS E
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock, par value $0.01 per share | 3,845 | $0.00 | -- |
| Other | Common Stock, par value $0.01 per share | 7,690 | $0.00 | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 23,795 shares (Direct, null);
Common Stock, par value $0.01 per share — 0 shares (Indirect, By Ag Risk Managers LLC)
Footnotes (1)
- On September 9, 2025, Ag Risk Managers LLC (the LLC), an entity of which Mr. Felbert is a member and president, distributed its holdings of Common Stock of Citizen Community Bancorp, Inc. to its members. Mr. Felber had previously reported beneficial ownership of all shares owned by the LLC, but disclaimed beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Upon such distribution by the LLC, Mr. Felber received 3,845 shares, representing his pecuniary interest therein. As a result, Mr. Felber's beneficial ownership on his two subsequently filed Form 4 reports was as follows: 24,795 shares (direct). 12,690 shares (indirect by IRA), and 0 shares (indirect by LLC) as of May 4, 2026, and 25,295 shares (direct), 12690 shares (indirect by IRA), and 0 shares (indirect by LLC) as of May 18, 2026. These shares are held in the reporting person's self-directed IRA.
Key Figures
Shares distributed from LLC: 7,690 shares
Shares received directly: 3,845 shares
Direct holdings after transaction: 23,795 shares
+3 more
6 metrics
Shares distributed from LLC
7,690 shares
Ag Risk Managers LLC distribution on September 9, 2025
Shares received directly
3,845 shares
Felber’s portion of LLC distribution on September 9, 2025
Direct holdings after transaction
23,795 shares
Common stock held directly after September 9, 2025
Indirect IRA holdings
12,690 shares
Common stock held via self-directed IRA after September 9, 2025
Indirect LLC holdings after distribution
0 shares
Ag Risk Managers LLC position after September 9, 2025 distribution
Restructuring shares total
11,535 shares
Shares involved in entity restructuring transactions coded J
Key Terms
Other acquisition or disposition, beneficial ownership, pecuniary interest, self-directed IRA, +1 more
5 terms
Other acquisition or disposition financial
"transaction_code_description: Other acquisition or disposition"
beneficial ownership financial
"Mr. Felber had previously reported beneficial ownership of all shares owned by the LLC"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaimed beneficial ownership of such shares, except to the extent of his pecuniary interest therein"
self-directed IRA financial
"These shares are held in the reporting person's self-directed IRA."
indirect ownership financial
"12,690 shares (indirect by IRA), and 0 shares (indirect by LLC)"
FAQ
What insider activity did Citizens Community Bancorp (CZWI) report for Francis E. Felber?
Citizens Community Bancorp reported that director Francis E. Felber restructured how his shares are held. An LLC in which he is a member distributed its Citizens Community stock to members, giving him 3,845 shares directly and eliminating his indirect LLC position.
What are Francis E. Felber’s Citizens Community Bancorp (CZWI) holdings after the reported transactions?
After the reported restructuring, Felber holds 23,795 Citizens Community Bancorp shares directly and 12,690 shares indirectly through a self-directed IRA. His indirect holdings through Ag Risk Managers LLC are reported as zero, reflecting the distribution of that entity’s shares.
Was the Citizens Community Bancorp (CZWI) Form 4 a market buy or sell by Felber?
The Form 4 does not show an open-market buy or sell by Felber. Instead, it reports “Other acquisition or disposition” transactions tied to an LLC distribution, reallocating shares to members, plus his existing indirect holdings in a self-directed IRA.
How are Felber’s indirect Citizens Community Bancorp (CZWI) holdings structured?
Felber’s indirect holdings are reported through a self-directed IRA holding 12,690 Citizens Community Bancorp shares. A footnote clarifies these shares are held in his IRA, while his prior indirect LLC holdings were eliminated after the LLC distributed its stock to members.