FS Bancorp EVP acquires shares via stock plan

FS Bancorp, Inc. executive Ben Crowl, Chief Lending Officer and EVP, reported a small change in his holdings of the company’s common stock.

Rhea-AI Filing Summary

FS Bancorp, Inc. executive Ben Crowl, Chief Lending Officer and EVP, reported a small change in his holdings of the company’s common stock. On May 6, 2026, he acquired 18 shares at $41.37 per share through the issuer’s Nonqualified 2022 Stock Purchase Plan, which includes a 25% matching component. Following this plan-related transaction, one directly held account shows 146 shares of common stock. Separate entries indicate additional holdings of 986 shares held indirectly through an ESOP and another directly held position of 16,789 shares.

Insider Trade Summary

Other: 18 shares

Other 3 txns

Insider Crowl Ben

Role Chief Lending Officer, EVP

Type	Security	Shares	Price	Value
Other	Common Stock	18	$41.37	$744.66
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 16,935 shares (Direct); Common Stock — 986 shares (Indirect, By ESOP)

Footnotes (1)

1. F1. These shares were purchased under the Issuer's Nonqualified 2022 Stock Purchase Plan and includes a 25% match.

Key Figures

Plan purchase: 18 shares Purchase price: $41.37 per share Direct holdings (account with plan shares): 146 shares +2 more

5 metrics

Plan purchase 18 shares Common Stock acquired on May 6, 2026

Purchase price $41.37 per share Price for 18-share plan purchase

Direct holdings (account with plan shares) 146 shares Total shares following plan-related transaction

Additional direct holdings line 16,789 shares Directly held Common Stock in separate table line

Indirect ESOP holdings 986 shares Common Stock held indirectly by ESOP

Key Terms

Nonqualified 2022 Stock Purchase Plan, ESOP, Common Stock, Form 4

4 terms

Nonqualified 2022 Stock Purchase Plan financial

"These shares were purchased under the Issuer's Nonqualified 2022 Stock Purchase Plan"

ESOP financial

"direct_or_indirect: "I", nature_of_ownership: "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.

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What did FS Bancorp (FSBW) executive Ben Crowl report in this Form 4?

Ben Crowl reported a small change in his FS Bancorp common stock holdings. He recorded an 18-share acquisition on May 6, 2026 under the company’s Nonqualified 2022 Stock Purchase Plan, reflecting routine, compensation-linked ownership activity rather than a large open-market trade.

How many FS Bancorp (FSBW) shares did Ben Crowl acquire and at what price?

Ben Crowl acquired 18 shares of FS Bancorp common stock at $41.37 per share. The transaction occurred on May 6, 2026 and was processed through the issuer’s Nonqualified 2022 Stock Purchase Plan, which the footnote notes includes a 25% matching component on purchases.

What is the significance of the Nonqualified 2022 Stock Purchase Plan for FSBW?

The Nonqualified 2022 Stock Purchase Plan allows executives like Ben Crowl to purchase FS Bancorp shares, with a 25% match described in the footnote. This structure functions as equity-based compensation, modestly increasing insider ownership through ongoing, programmatic purchases rather than large discretionary market trades.

How many FS Bancorp (FSBW) shares does Ben Crowl hold after this transaction?

After this transaction, one direct account shows 146 FS Bancorp shares, including the plan purchase. Additional table entries list 16,789 shares held directly in another line and 986 shares held indirectly through an ESOP, indicating multiple reported positions in the company’s common stock.

Was Ben Crowl’s Form 4 transaction in FSBW an open-market trade?

The transaction was not an open-market trade. A footnote explains the 18 shares were purchased under FS Bancorp’s Nonqualified 2022 Stock Purchase Plan with a 25% match, indicating a structured, compensation-related acquisition rather than a discretionary buy or sell in the public market.

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

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Accepted by SEC EDGAR 05/08/2026 - 01:05 PM EDT Learn about SEC filing dates

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)
05/06/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/06/2026		J(1)		18	A	$41.37	146	D
Common Stock								16,789	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)
				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/Benjamin Crowl	05/08/2026
	** 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)