FS Bancorp (FSBW) insider buys 64 shares under 2022 purchase plan

Rhea-AI Filing Summary

Terri L. Degner, a director of FS Bancorp, Inc. (FSBW), filed a Form 4 reporting insider activity dated 08/06/2025. The filing shows a purchase of 64 common shares at $39.20 under the issuer’s Nonqualified 2022 Stock Purchase Plan, which included a 25% employer match. The filing lists a post-transaction direct beneficial ownership of 1,082 shares and discloses 1,323 shares held indirectly in an IRA. Separate entries record 1,750 and 2,000 shares flagged as dispositions in the table and a footnote indicates the 2,000 shares are held jointly with a spouse. The form was signed by Ms. Degner on 08/07/2025.

Positive

• Purchase executed under the issuer's Nonqualified 2022 Stock Purchase Plan
• Transaction includes a 25% employer match
• Form 4 properly signed and dated, indicating formal disclosure

Negative

• Filing records dispositions of 1,750 and 2,000 shares (listed as D)
• Overall insider holdings shown are modest, limiting material significance

Insights

Financial Analyst

Small, routine director purchase under employee plan; overall insider holdings remain modest.

The Form 4 documents a purchase of 64 shares at $39.20 under the company's Nonqualified 2022 Stock Purchase Plan with a 25% match, increasing direct holdings to 1,082 shares. The filing also lists dispositions of 1,750 and 2,000 shares and shows 1,323 shares held indirectly in an IRA. Taken at face value, the transaction size is small relative to typical market-capitalization impacts and reads as routine insider participation in a payroll/purchase plan rather than a material strategic move.

Corporate Governance Expert

Disclosure is complete for reported items; transaction appears to follow a company benefit plan.

The report identifies the reporter as a director and documents the use of the issuer's Nonqualified 2022 Stock Purchase Plan with a stated 25% match, which supports compliance with expected insider reporting for plan purchases. The filing includes direct and indirect holdings and notes joint ownership for 2,000 shares. The entries are presented clearly with dates and a signed certification, satisfying Form 4 disclosure requirements in the document provided.

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
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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).

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^*

Degner Terri L

(Last) (First) (Middle)

6920 220TH STREET SW

(Street)

MOUNTLAKE TERRACE WA 98043

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FS Bancorp, Inc. [ FSBW ]

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)
08/06/2025

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	08/06/2025		J(1)		64	A	$39.2	1,082	D
Common Stock								1,750	D
Common Stock								2,000(2)	D
Common Stock								1,323	I	By IRA

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:

1. These shares were purchased under the Issuer's Nonqualified 2022 Stock Purchase Plan and includes a 25% match.

2. Shares held jointly with spouse.

	/s/ Terri Degner	08/07/2025
	** 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 Terri Degner report on the FSBW Form 4?

Terri Degner reported a purchase of 64 common shares at $39.20 on 08/06/2025 under the company's Nonqualified 2022 Stock Purchase Plan; the form shows related holdings and dispositions as filed.

How many shares were purchased and at what price in the FSBW filing?

64 shares were purchased at $39.20 per share on 08/06/2025.

Does the filing show other holdings or transactions for FSBW by Degner?

The filing lists a post-transaction direct beneficial ownership of 1,082 shares, 1,323 shares held indirectly by an IRA, and entries of 1,750 and 2,000 shares noted as dispositions.

What plan was used for the purchase reported on the FSBW Form 4?

The purchase was made under FS Bancorp's Nonqualified 2022 Stock Purchase Plan and included a 25% employer match.

When was the Form 4 signed for the FSBW disclosure?

The Form 4 was signed by Terri Degner on 08/07/2025.