What is the nature of the 2,730-share stock award reported by FBIZ executive Hartlieb?

The 2,730-share award to James Edward Hartlieb represents Common Stock issued upon vesting of Performance Restricted Stock Unit awards covering the 2023-2025 performance period. The shares were issued at a stated price of $0.00 per share, consistent with compensation-related equity grants rather than market purchases.

First Business (NASDAQ: FBIZ) bank CEO gets stock award, covers taxes

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

FIRST BUSINESS FINANCIAL SERVICES, INC. executive James Edward Hartlieb, President & CEO of First Business Bank, reported several routine equity compensation-related transactions in Common Stock. He received 2,730 shares at $0.00 per share as an award upon vesting of Performance Restricted Stock Units for the 2023-2025 period.

On the same date, 1,039 shares were disposed of at $58.60 per share to cover tax obligations, and 127 shares were transferred as a bona fide gift. After these transactions, he directly owned 31,636.874 shares of Common Stock.

Insider Trade Summary

127 shares gifted

Mixed 3 txns

Insider Hartlieb James Edward

Role Pres&CEO First Business Bank

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,730	$0.00	--
Tax Withholding	Common Stock	1,039	$58.60	$61K
Gift	Common Stock	127	$0.00	--

Holdings After Transaction: Common Stock — 32,802.874 shares (Direct)

Footnotes (1)

Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards for the performance period 2023-2025. Transaction is a gift, therefore price is not applicable.

Key Figures

Stock award: 2,730 shares Award price per share: $0.00 per share Tax withholding shares: 1,039 shares +3 more

6 metrics

Stock award 2,730 shares Common Stock issued upon vesting of Performance RSUs for 2023-2025

Award price per share $0.00 per share Price for 2,730-share Common Stock award

Tax withholding shares 1,039 shares Shares delivered to pay tax liability on equity compensation

Tax withholding price $58.60 per share Price used for 1,039-share tax-withholding disposition

Gifted shares 127 shares Bona fide gift of Common Stock

Post-transaction holdings 31,636.874 shares Common Stock directly owned after all reported transactions

Key Terms

Performance Restricted Stock Unit, bona fide gift, tax liability

3 terms

Performance Restricted Stock Unit financial

"Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards for the performance period 2023-2025."

bona fide gift financial

"Transaction is a gift, therefore price is not applicable."

tax liability financial

"Payment of exercise price or tax liability by delivering securities"

Form 4 Insider Transactions: What Each Field Means →

04/14/2026 - 04:24 PM

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^*

Hartlieb James Edward

(Last)

(First)

(Middle)

401 CHARMANY DRIVE

(Street)

MADISON

WISCONSIN

53719

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FIRST BUSINESS FINANCIAL SERVICES, INC. [ FBIZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Pres&CEO First Business Bank

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/10/2026		A		2,730⁽¹⁾	A	$0	32,802.874	D
Common Stock	04/10/2026		F		1,039	D	$58.6	31,763.874	D
Common Stock	04/10/2026		G		127	D	⁽²⁾	31,636.874	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards for the performance period 2023-2025.

2. Transaction is a gift, therefore price is not applicable.

	Peter J. Wilder (pursuant to Power of Attorney filed previously)	04/14/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did James Edward Hartlieb report for FBIZ?

James Edward Hartlieb reported receiving 2,730 shares of Common Stock as an equity award, disposing of 1,039 shares to cover tax obligations at $58.60 per share, and gifting 127 shares. These transactions are compensation, tax, and gift related rather than open-market buying or selling.

How many FIRST BUSINESS FINANCIAL SERVICES (FBIZ) shares does Hartlieb hold after these Form 4 transactions?

After the reported transactions, James Edward Hartlieb directly holds 31,636.874 shares of FIRST BUSINESS FINANCIAL SERVICES Common Stock. This figure reflects the net result of his 2,730-share award, the 1,039 shares used to satisfy tax liabilities, and the 127-share bona fide gift.

How were taxes handled on James Edward Hartlieb’s FBIZ stock award?

To cover tax obligations related to his equity compensation, 1,039 shares of FIRST BUSINESS FINANCIAL SERVICES Common Stock were disposed of at $58.60 per share. This tax-withholding disposition is recorded with transaction code F and reflects payment of tax liability by delivering securities instead of cash.

What does the bona fide gift transaction mean in Hartlieb’s FBIZ Form 4?

The Form 4 shows a bona fide gift of 127 shares of Common Stock by James Edward Hartlieb, reported with transaction code G. The filing notes that, because the transaction is a gift, price is not applicable. This is a non-market transfer and not an open-market sale.