[Form 4] Fifth District Bancorp, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Fifth District Bancorp director Greg Abry acquired equity and option awards on 09/16/2025. The Form 4 shows 11,118 restricted shares of Common Stock were acquired at no cash cost and, after the transaction, Mr. Abry beneficially owns 41,118 shares. In addition, he was granted 27,797 stock options with an exercise price of $13.94 that vest over time and convert into 27,797 shares. Both the restricted shares and the options vest at a rate of 20% per year commencing on 09/16/2026; the options become exercisable beginning 09/16/2026 and expire 09/16/2035. The filing was signed by an agent under power of attorney on 09/17/2025.

Positive

• Director Greg Abry acquired 11,118 restricted shares (no cash price reported) on 09/16/2025
• 27,797 stock options granted with an exercise price of $13.94, exercisable beginning 09/16/2026 and expiring 09/16/2035
• Both restricted shares and options vest at 20% per year commencing 09/16/2026

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received equity and long-dated options with multi-year vesting, indicating typical alignment through grant-based compensation.

The Form 4 documents a director-level award: 11,118 restricted shares and 27,797 options exercisable at $13.94, vesting 20% per year from 09/16/2026. The multi-year vesting schedule ties value realization to tenure and future performance periods. The option expiration of 09/16/2035 provides a long exercise window. These are standard governance mechanisms to retain and align board members with shareholders, and there is no disclosure here of any cash consideration paid for the restricted shares.

Securities Analyst

TL;DR: Insider grant is routine; grants create potential future dilution equal to shares underlying options and restricted stock.

The filing reports acquisition of 11,118 restricted shares and 27,797 options (underlying 27,797 shares) at a $13.94 strike, exercisable from 09/16/2026 with expiration 09/16/2035. Combined, these instruments correspond to 38,915 incremental common shares represented in the filing. The document does not state total outstanding shares or grant valuation, so direct dilution impact relative to the company's share count cannot be calculated from this filing 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^*

Abry Herman Greg

(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	41,118	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
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 insider transaction did Greg Abry file for FDSB on 09/16/2025?

The Form 4 reports Greg Abry acquired 11,118 restricted shares and was granted 27,797 stock options on 09/16/2025.

What is the exercise price and expiration date of the options granted to the FDSB director?

The options have an exercise price of $13.94, become exercisable beginning 09/16/2026, and expire on 09/16/2035.

How do the restricted shares and options vest for the FDSB grant?

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

How many shares does Greg Abry beneficially own after the reported transaction for FDSB?

After the reported acquisition, Greg Abry beneficially owns 41,118 shares of common stock.

Who signed the Form 4 filing for Greg Abry and when?

The filing was signed by Victor L. Cangelosi pursuant to power of attorney on 09/17/2025.