[Form 4] FS Bancorp, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Erin Burr, an executive of FS Bancorp, Inc. (ticker: FSBW), filed a Form 4 reporting equity transactions dated 08/06/2025. The filing identifies Burr as CRO & CRA Officer and EVP and notes purchases made under the issuer's Nonqualified 2022 Stock Purchase Plan that include a 25% company match. The document lists numeric entries including 230, 2,675, 25,841 and 7,875 shares and a reported price of $39.2. The form is signed by Erin Burr on 08/08/2025. The explanation section explicitly states the shares were bought under the 2022 plan with a 25% match.

Positive

• Reporting person purchased shares under the Issuer's Nonqualified 2022 Stock Purchase Plan, which the filing says includes a 25% match.
• Form 4 is signed and dated (08/08/2025), providing a clear, timely disclosure of the transactions.

Negative

• The filing includes a line showing a disposition of 25,841 shares (listed with a "D"), which removes shares from beneficial ownership as reported.
• Tables contain multiple numeric entries (e.g., 230, 2,675, 7,875) without explicit context in the table layout, making precise interpretation of each line unclear from the formatting.

Insights

Financial Analyst

TL;DR: Insider transactions show participation in the company stock purchase plan but the filing contains modest share counts and no revenue or earnings data.

The Form 4 documents an employee/officer purchase under FS Bancorp's Nonqualified 2022 Stock Purchase Plan with a 25% match, filed by Erin Burr. The filing lists specific share figures and a price of $39.20, but it does not provide context on materiality relative to total outstanding shares or the executive's overall holdings beyond the numeric entries shown. This is a routine disclosure of insider participation in a company stock plan rather than a material corporate event.

Corporate Governance Expert

TL;DR: The filing is a standard Section 16 disclosure showing an officer's plan-based purchase and contains no governance red flags.

The report names Erin Burr and lists her officer titles, the transaction date, and that the purchase was under the issuer's 2022 plan with a 25% match. The form is signed and dated, and includes an explanation tying the transaction to the plan. There is a record of a disposition line in the table (25,841 shares) and an indirect holding via an ESOP (7,875 shares). The document is procedural disclosure; there are no explicit compliance issues or unusual derivative transactions reported.

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^*

Burr Erin

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CRO & CRA Officer, EVP

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)		230	A	$39.2	2,675	D
Common Stock								25,841	D
Common Stock								7,875	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)
				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.

	/s/ Erin Burr	08/08/2025
	** 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

Who filed the Form 4 for FS Bancorp (FSBW)?

The Form 4 was filed by Erin Burr, identified as CRO & CRA Officer, EVP.

What transactions are reported on the Form 4 dated 08/06/2025?

The filing reports equity transactions dated 08/06/2025 that include purchases under the issuer's Nonqualified 2022 Stock Purchase Plan and numeric entries for shares and a price of $39.2.

Did the filing indicate a company match for the stock purchase?

Yes. The explanation states the shares were purchased under the 2022 plan and include a 25% match.

Are there dispositions listed in the filing?

Yes. The table shows a line with 25,841 shares marked "D" for disposition.

When was the Form 4 signed?

The signature block shows Erin Burr signed the form on 08/08/2025.