Fifth District Bancorp Insider Grant: 11,118 Shares; Options at $13.94

Rhea-AI Filing Summary

Chris M. Rittiner, a director of Fifth District Bancorp, Inc. (FDSB), reported equity awards and stock option grants on 09/16/2025. The Form 4 shows acquisition of 11,118 restricted shares, increasing his direct common stock holdings to 36,118 shares, plus an indirect holding of 25,000 shares held by his spouse. He also received 27,797 stock options with an exercise price of $13.94; the options become exercisable beginning 09/16/2026 and expire 09/16/2035. Both the restricted shares and the options vest at a rate of 20% per year commencing 09/16/2026. The filing was signed by power of attorney on 09/17/2025.

Positive

• Increased insider ownership: Director acquired 11,118 restricted shares, raising direct holdings to 36,118 shares.
• Alignment with shareholders: Restricted shares and options vest at 20% per year beginning 09/16/2026, promoting long-term alignment.
• Clear disclosure: Filing identifies indirect holdings (25,000 shares by spouse) and provides full vesting and option terms.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity-based compensation for a director increases insider ownership with multi-year vesting, limited immediate market impact.

The filing documents standard equity awards: restricted stock and stock options granted to a director on 09/16/2025. The options have a $13.94 exercise price and a 10-year term, with vesting beginning one year after grant at 20% per year. These awards align management incentives with shareholders over time but do not represent immediate stock sales or purchases in the open market. Based solely on the filing, there is no indication of material dilution beyond typical grant-size for director compensation, and no change to outstanding exercised options or cash transactions was reported.

Corporate Governance Expert

TL;DR: Governance-standard grants with multi-year vesting suggest retention and alignment; disclosure is complete and timely.

The Form 4 identifies the reporting person as a director and shows both direct and indirect holdings, including spouse-held shares, which is appropriate disclosure. Vesting schedules beginning one year after grant and spreading over five years are typical for retention-focused awards. The filing was timely (reported the day after the transaction date) and executed via power of attorney, consistent with administrative practice. No governance red flags are apparent from the disclosed terms alone.

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).

1. Name and Address of Reporting Person^*

Rittiner Chris M.

(Last) (First) (Middle)

4000 GENERAL DEGAULLE DR

(Street)

NEW ORLEANS LA 70114

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fifth District Bancorp, Inc. [ FDSB ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		A		11,118(1)	A	$0	36,118	D
Common Stock								25,000	I	By Spouse

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
Stock Options	$13.94	09/16/2025		A		27,797(2)		09/16/2026	09/16/2035	Common Stock	27,797(2)	$0	27,797(2)	D

Explanation of Responses:

1. Shares of restricted stock vest at a rate of 20% per year commencing on September 16, 2026.

2. Stock Options vest at a rate of 20% per year commencing on September 16, 2026.

	/s/ Victor L. Cangelosi, pursuant to power of attorney	09/17/2025
	** 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 did Chris M. Rittiner report on the FDSB Form 4 filed 09/17/2025?

He reported acquiring 11,118 restricted shares and receiving 27,797 stock options at an exercise price of $13.94, with transactions dated 09/16/2025.

When do the restricted shares and options vest for the FDSB director grant?

Both the restricted shares and the stock options vest at a rate of 20% per year commencing on 09/16/2026.

How many FDSB shares does the reporting person beneficially own after the reported transaction?

The Form 4 shows 36,118 shares directly owned after the transaction and an additional 25,000 shares indirectly held by the reporting person's spouse.

What are the key terms of the stock options disclosed in the FDSB Form 4?

The options number 27,797, have an exercise price of $13.94, become exercisable starting 09/16/2026, and expire 09/16/2035.

Was this Form 4 filed on time and who signed it?

The transaction date is 09/16/2025 and the Form 4 was signed via power of attorney (/s/ Victor L. Cangelosi) on 09/17/2025.