FS Bancorp (NASDAQ: FSBW) CEO reports stock purchase plan acquisition

Rhea-AI Filing Summary

FS Bancorp, Inc. executive Matthew D. Mullet, President and CEO of 1st Security Bank, reported an insider transaction involving the company’s Nonqualified 2022 Stock Purchase Plan. He acquired 218 shares of common stock at $41.37 per share under the plan, which the footnote states includes a 25% company match.

Following this plan transaction, Mullet directly held 1,622 shares in that account and also directly held 106,340 shares of common stock in a separate direct holding. Indirect holdings reported include 22,124 shares held by an IRA, 5,600 shares held by his spouse’s IRA, and 10,853 shares held through an ESOP.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Mullet Matthew D.

Role Pres & CEO of 1st Security Ban

Type	Security	Shares	Price	Value
Other	Common Stock	218	$41.37	$9K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,622 shares (Direct, null); Common Stock — 10,853 shares (Indirect, By ESOP)

Footnotes (1)

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Key Figures

Plan acquisition: 218 shares Plan purchase price: $41.37 per share Direct holdings (plan account): 1,622 shares +4 more

7 metrics

Plan acquisition 218 shares Common Stock acquired under Nonqualified 2022 Stock Purchase Plan

Plan purchase price $41.37 per share Price for 218 shares under stock purchase plan

Direct holdings (plan account) 1,622 shares Total common shares following plan transaction in that account

Direct holdings (primary) 106,340 shares Directly held common stock position following reported transactions

IRA indirect holdings 22,124 shares Common stock held by IRA

Spouse IRA holdings 5,600 shares Common stock held by spouse’s IRA

ESOP holdings 10,853 shares Common stock held by ESOP

Key Terms

Nonqualified 2022 Stock Purchase Plan, ESOP, IRA, 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

"Common Stock ... 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.

IRA financial

"Common Stock ... nature_of_ownership: By IRA"

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

Form 4 regulatory

"INSIDER FILING DATA (Form 4): { "issuerName": "FS Bancorp, Inc.""

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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Mullet Matthew D.

(Last) (First) (Middle)

C/O FS BANCORP, INC.

6920 220TH STREET SW, SUITE 300

(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)
	Pres & CEO of 1st Security Ban

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)		218	A	$41.37	1,622	D
Common Stock								106,340	D
Common Stock								10,853	I	By ESOP
Common Stock								5,600	I	By Spouse's IRA
Common Stock								22,124	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.

	/s/ Matthew D. Mullet	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)

FAQ

What insider transaction did FS Bancorp (FSBW) report for Matthew D. Mullet?

FS Bancorp reported that Matthew D. Mullet completed an insider stock transaction through the company’s Nonqualified 2022 Stock Purchase Plan. He acquired 218 shares of common stock at $41.37 per share, with the plan documentation noting that this amount includes a 25% company match.

How many FS Bancorp shares did Matthew D. Mullet acquire in the latest Form 4?

Matthew D. Mullet acquired 218 shares of FS Bancorp common stock in the reported transaction. These shares were purchased under the Nonqualified 2022 Stock Purchase Plan at $41.37 per share, and the filing notes the amount includes a 25% matching component from the plan.

What are Matthew D. Mullet’s direct FS Bancorp share holdings after this filing?

After the reported transaction, Matthew D. Mullet directly held 1,622 shares related to the stock purchase plan account and 106,340 additional directly held common shares. The Form 4 lists these as separate direct positions, providing a snapshot of his personal stock ownership in the company.

What indirect FS Bancorp holdings does Matthew D. Mullet report on this Form 4?

The filing shows three indirect holdings for Matthew D. Mullet: 22,124 shares held by an IRA, 5,600 shares held by his spouse’s IRA, and 10,853 shares held through an ESOP. These positions are reported as indirect beneficial ownership of FS Bancorp common stock.

What is FS Bancorp’s Nonqualified 2022 Stock Purchase Plan mentioned in the Form 4?

The Nonqualified 2022 Stock Purchase Plan is a company program under which Matthew D. Mullet purchased 218 shares in this filing. The footnote explains that these shares were bought pursuant to the plan and that the reported amount includes a 25% matching contribution component.

Does the FS Bancorp Form 4 show any open-market buying or selling by Matthew D. Mullet?

The Form 4 does not report any open-market purchase or sale codes for this date. Instead, it shows an “other” transaction (code J) linked to the Nonqualified 2022 Stock Purchase Plan and multiple entries updating direct and indirect holdings in various ownership accounts.