[144] FS Bancorp, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for FS Bancorp, Inc. (FSBW) shows a proposed sale of 4,914 common shares by an insider through Wells Fargo Clearing Services with an aggregate market value of $197,199.34. The filing lists the insider's historical acquisitions: multiple annual grants from 2019–2023 totaling smaller grant amounts and larger option-related entries in 2021 and 2024 (18,336 and 14,646 units) with cash payment dates. The filer also reported a recent sale of 10,864 shares on 08/19/2025 for gross proceeds of $436,257.43. The filer certifies no undisclosed material adverse information.

Positive

• Regulatory compliance: Form 144 filed with broker details and acquisition history, meeting disclosure requirements.
• Insider attestation: Filer certifies no undisclosed material adverse information, which supports transparency.

Negative

• Insider selling activity: Recent sale of 10,864 shares (gross proceeds $436,257.43) plus the proposed sale could be viewed negatively by some investors.
• Lack of operational context: Filing contains no operational or financial performance data to explain the sales.

Insights

Securities Analyst

TL;DR: Insider selling disclosed; transaction size appears modest relative to total outstanding shares.

The Form 144 reports a proposed sale of 4,914 shares valued at $197,199.34 against 7,596,336 shares outstanding, indicating the transaction represents a small fraction of outstanding equity. Recent sales of 10,864 shares for $436,257.43 are also disclosed. This filing documents compliance with Rule 144 transfer procedures but does not provide operational or financial performance data. For investors, the filing signals insider liquidity activity without explicit indication of material change to the company's fundamentals.

Corporate Governance Expert

TL;DR: Disclosure meets regulatory requirements; insider attests no undisclosed material adverse information.

The notice properly identifies the broker, class of security, dates of acquisition, and payment nature for awarded shares and options. The signature representation that no material nonpublic information exists is standard and important for compliance. The filing alone does not show any governance red flags, but continuing insider sales may warrant monitoring in the broader governance context.

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	4914	197199.34	7596336	08/20/2025	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

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 does the Form 144 for FSBW disclose?

The filing discloses a proposed sale of 4,914 common shares valued at $197,199.34 through Wells Fargo and a reported sale on 08/19/2025 of 10,864 shares for $436,257.43.

Who is the broker handling the proposed sale in the FSBW Form 144?

The broker listed is Wells Fargo Clearing Services, 1 North Jefferson Avenue, St. Louis, MO.

When were the securities being sold originally acquired?

Acquisitions listed include grants on 08/15 of 2019–2023 (varying amounts) and stock option-related acquisitions on 08/11/2021 and 08/26/2024.

How large is the proposed sale relative to outstanding shares?

The proposed 4,914-share sale is against 7,596,336 shares outstanding, making it a small fraction of total shares.

Does the filing indicate any undisclosed material information?

The filer certifies by signature that they do not know of any material adverse information that has not been publicly disclosed.