[144] FS Bancorp, Inc. SEC Filing

Rhea-AI Filing Summary

FS Bancorp, Inc. (FSBW) Form 144 notifies the SEC of a proposed sale of 402 common shares valued at $16,744.44 to be sold approximately on 08/22/2025 on the Nasdaq. The filing lists acquisition history showing grants and option exercises between 2019 and 2024 totaling the reported lots, including a large 2024 stock option exercise of 14,646 shares and a 2021 exercise of 18,336 shares. The filer also reported three market sales in the prior three days (08/19–08/21/2025) totaling 22,452 shares for gross proceeds of $900,444.13. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Insider has recently sold 22,452 shares and filed for an additional 402-share sale; total recent proceeds exceed $900k.

The Form 144 shows active insider selling across three consecutive trading days with aggregate gross proceeds of $900,444.13, followed by a proposed sale of 402 shares (~$16.7k). The filing details the acquisition sources as grants and option exercises, with large option exercises in 2021 and 2024 that materially increased insider holdings available for sale. For investors, clustered insider sales can signal liquidity needs or portfolio rebalancing; the filing itself provides transparent compliance with Rule 144 but does not state any change in company operations.

Corporate Governance Expert

TL;DR: Compliance with disclosure requirements is observed, and the signer affirms no undisclosed material adverse information.

The document is a standard Rule 144 notice properly identifying broker details, number of shares to be sold, and acquisition history through grants and option exercises. The seller signed the customary attestation regarding material adverse information. From a governance perspective, the filing shows openness about selling activity but provides no explanation of the seller's motivations or any trading plan adoption date. The disclosure meets filing requirements but offers limited context for stakeholders.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
common	Wells Fargo Clearing Services 1 North Jefferson Avenue St. Louis MO 63103	402	16744.44	7596336	08/22/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
common	08/15/2019	Grant	Issuer			913	08/15/2019	N/A
common	08/15/2020	Grant	Issuer			1095	08/15/2020	N/A
common	08/15/2021	Grant	Issuer			913	08/15/2021	N/A
common	08/15/2022	Grant	Issuer			856	08/15/2022	N/A
common	08/15/2023	Grant	Issuer			741	08/15/2023	N/A
common	08/26/2024	Stock Options	Issuer			14646	08/26/2024	Cash
common	08/11/2021	Stock Options	Issuer			18336	08/11/2021	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Joseph C Adams 6920 220th Street SW Mountlake Terrace WA 98043	FS Bancorp, Inc.	08/19/2025	10864	436257.43
Joseph C Adams 6920 220th Street SW Mountlake Terrace WA 98043	FS Bancorp, Inc.	08/20/2025	4914	197199.34
Joseph C Adams 6920 220th Street SW Mountlake Terrace WA 98043	FS Bancorp, Inc.	08/21/2025	6674	266987.36

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did the Form 144 for FSBW disclose?

The filing disclosed a proposed sale of 402 common shares (~$16,744.44) to be executed on 08/22/2025 and listed acquisition history and recent sales.

How many shares did the insider sell recently for FS Bancorp (FSBW)?

The filing reports three sales on 08/19/2025, 08/20/2025, and 08/21/2025 totaling 22,452 shares with gross proceeds of $900,444.13.

What is the aggregate market value of the shares the filer plans to sell on 08/22/2025?

The Form 144 lists an aggregate market value of $16,744.44 for the 402 common shares proposed to be sold.

What were the acquisition sources for the shares indicated on the Form 144?

Acquisitions listed include grants (2019–2023) and stock option exercises in 2021 and 08/26/2024, with specific lot sizes disclosed in the filing.

Through which broker will the proposed sale be executed?

The proposed sale is listed with Wells Fargo Clearing Services (1 North Jefferson Avenue, St. Louis, MO) and the exchange listed is Nasdaq.