FS Bancorp EVP Ben Crowl sells 5,399 shares

Q: How many FSBW shares did Ben Crowl sell?

Ben Crowl sold 5,399 common shares at $43.78 per share on November 5, 2026. No Rule 10b5-1 plan is reported.

Q: How many FSBW stock options did Ben Crowl exercise?

On November 4, 2026, he exercised options covering 748 common shares at $24.37 and 1,856 common shares at $21.35. The reported option balances after the respective exercises were 26,936 and 25,080; 2,604 shares were delivered or withheld for payment of exercise price or tax liability.

Q: How many FSBW shares did Ben Crowl hold indirectly through an ESOP?

Ben Crowl reported 986 common shares held indirectly by an ESOP.

Ben Crowl also reported 986 common shares held indirectly through an ESOP.

Available on EDGAR 11/06/2026 - 11:58 AM EST Accepted by SEC EDGAR 11/06/2026 - 11:57 AM EST

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Form Type

Rhea-AI Filing Summary

FS Bancorp, Inc. Chief Lending Officer and EVP Ben Crowl exercised stock options on November 4, 2026, acquiring 748 common shares at $24.37 and 1,856 at $21.35; 2,604 shares were delivered or withheld for payment of exercise price or tax liability. He sold 5,399 common shares at $43.78 on November 5, 2026. The option records list 26,936 and 25,080 options following the respective exercises. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 6 txns

Insider Crowl Ben

Role Chief Lending Officer, EVP

Sold 5,399 shs ($236K)

Approx. gross sale proceeds $236K

Approx. exercise cost $58K

Type	Security	Shares	Price	Value
Sale	Common Stock	5,399	$43.78	$236K
Exercise	Stock Options (Right to Buy)	748	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	1,856	$0.00	$0.00
Exercise	Common Stock	748	$24.37	$18K
Exercise	Common Stock	1,856	$21.35	$40K
Exercise Price or Tax Liability	Common Stock	2,604	$44.47	$116K
Holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options (Right to Buy) — 26,936 contracts (Direct); Stock Option (Right to Buy) — 25,080 contracts (Direct); Common Stock — 17 shares (Direct); Common Stock — 986 shares (Indirect, By ESOP)

Holdings Before and After: Stock Options (Right to Buy), 27,684 to 26,936 contracts (Direct); Stock Option (Right to Buy), 26,936 to 25,080 contracts (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Key Figures

Common shares sold: 5,399 shares Sale price: $43.78 per share Shares acquired through option exercise: 748 shares +5 more

8 metrics

Common shares sold 5,399 shares Sale on November 5, 2026

Sale price $43.78 per share Sale on November 5, 2026

Shares acquired through option exercise 748 shares Exercise on November 4, 2026, at $24.37 per share

Shares acquired through option exercise 1,856 shares Exercise on November 4, 2026, at $21.35 per share

Shares delivered or withheld 2,604 shares For payment of exercise price or tax liability on November 4, 2026

Options following transaction 26,936 options Following the 748-option exercise

Options following transaction 25,080 options Following the 1,856-option exercise

Indirect common shares held by ESOP 986 shares Reported on November 4, 2026

Key Terms

Stock Options (Right to Buy), derivative security, exercise price, ESOP

4 terms

Stock Options (Right to Buy) technical

"Stock Options (Right to Buy)"

derivative security technical

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

exercise price financial

"Payment of exercise price or tax liability"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

ESOP technical

"By ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FSBW shares did Ben Crowl sell?

Ben Crowl sold 5,399 common shares at $43.78 per share on November 5, 2026. No Rule 10b5-1 plan is reported.

How many FSBW stock options did Ben Crowl exercise?

On November 4, 2026, he exercised options covering 748 common shares at $24.37 and 1,856 common shares at $21.35. The reported option balances after the respective exercises were 26,936 and 25,080; 2,604 shares were delivered or withheld for payment of exercise price or tax liability.

How many FSBW shares did Ben Crowl hold indirectly through an ESOP?

Ben Crowl reported 986 common shares held indirectly by an ESOP.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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).

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^*

Crowl Ben

(Last)

(First)

(Middle)

6920 220TH STREET SW

(Street)

MOUNTLAKE TERRACE

WASHINGTON

98043

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Lending Officer, EVP

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/04/2026		M		748	A	$24.37	20,255	D
Common Stock	11/04/2026		M		1,856	A	$21.35	22,111	D
Common Stock	11/04/2026		F		2,604	D	$44.47	19,507	D
Common Stock	11/05/2026		S		5,399	D	$43.78	17	D
Common Stock								986	I	By ESOP

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$24.37	11/04/2026		M			748	08/15/2020	08/15/2029	Common Stock	748	$0	26,936	D
Stock Option (Right to Buy)	$21.35	11/04/2026		M			1,856	08/15/2021	08/15/2030	Common Stock	1,856	$0	25,080	D

Explanation of Responses:

	/s/Benjamin Crowl	11/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR