[Form 4] FIRST BUSINESS FINANCIAL SERVICES, INC. Insider Trading Activity

Rhea-AI Filing Summary

FIRST BUSINESS FINANCIAL SERVICES, INC. CFO Brian D. Spielmann reported equity transactions in company common stock. He received a grant of 875 shares at no cost and had 603 shares disposed of in a tax-withholding transaction at $58.36 per share, leaving 5,622 shares held directly.

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

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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^*

Spielmann Brian D.

(Last) (First) (Middle)

401 CHARMANY DRIVE

(Street)

MADISON WI 53719

(City) (State) (Zip)

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)
	CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/16/2026		A		875	A	$0	6,225	D
Common Stock	02/16/2026		F		603	D	$58.36	5,622	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

Explanation of Responses:

	Peter J. Wilder (Pursuant to Power of Attorney previously filed)	02/18/2026
	** 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.

FAQ

What insider transactions did FBIZ CFO Brian Spielmann report?

FBIZ CFO Brian D. Spielmann reported a grant of 875 shares of common stock and a related tax-withholding disposition of 603 shares. These transactions reflect equity compensation and share withholding to cover taxes, not an open-market purchase or sale program.

How many FBIZ shares did the CFO acquire in this Form 4 filing?

The CFO acquired 875 shares of FIRST BUSINESS FINANCIAL SERVICES, INC. common stock through a grant at no cost. This grant represents equity-based compensation rather than a cash purchase on the open market, increasing his direct share ownership position in the company.

Why were 603 FBIZ shares disposed of in Brian Spielmann’s filing?

The 603 shares were disposed of in a tax-withholding transaction at $58.36 per share. This means shares were used to satisfy tax obligations tied to the equity grant, rather than being sold as part of an independent trading or portfolio-management decision.

What is Brian Spielmann’s FBIZ share ownership after these transactions?

After the reported grant and tax-withholding disposition, CFO Brian D. Spielmann directly holds 5,622 shares of FIRST BUSINESS FINANCIAL SERVICES, INC. common stock. This total reflects his updated direct ownership following both the compensation-related share award and the related tax-share surrender.

Do these FBIZ insider transactions indicate an open-market sale by the CFO?

No, the filing shows a share grant and a tax-withholding disposition, not an open-market sale. The tax transaction uses shares to cover liabilities from the grant, a common mechanism in equity compensation rather than a discretionary sale decision by the executive.

What was the price used for the FBIZ tax-withholding share disposition?

The tax-withholding disposition used a price of $58.36 per share for 603 shares. This price is typically based on the market value at the time of the transaction to accurately determine the number of shares needed to cover the associated tax obligation.