FS Bancorp (FSBW) lending chief adds shares via 2022 stock plan

Rhea-AI Filing Summary

FS Bancorp, Inc. Chief Lending Officer and EVP Ben Crowl reported a small purchase of common stock. On February 6, 2026, he acquired 18 shares at $42.28 per share in a transaction coded J under the company’s Nonqualified 2022 Stock Purchase Plan, which includes a 25% match. Following this activity, one directly held account showed 128 shares, another direct holding reflected 16,789 shares, and an additional 986 shares were held indirectly through an ESOP.

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

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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 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)
	Chief Lending Officer, EVP

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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	02/06/2026		J(1)		18	A	$42.28	128	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	02/10/2026
	** 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).
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FAQ

What insider transaction did FS Bancorp (FSBW) report for Ben Crowl?

FS Bancorp reported that Chief Lending Officer and EVP Ben Crowl acquired 18 shares of common stock. The purchase occurred on February 6, 2026, at a price of $42.28 per share, recorded as a transaction code J on the Form 4.

At what price did Ben Crowl acquire FS Bancorp (FSBW) shares?

Ben Crowl acquired 18 FS Bancorp common shares at $42.28 per share. This purchase was made under the company’s Nonqualified 2022 Stock Purchase Plan, as disclosed in the Form 4 insider trading report filed for the February 6, 2026 transaction.

How many FS Bancorp (FSBW) shares does Ben Crowl hold after this Form 4?

After the reported activity, one directly held account for Ben Crowl showed 128 FS Bancorp shares, another reflected 16,789 directly held shares, and 986 additional shares were beneficially owned indirectly through an ESOP, according to the Form 4 disclosure.

What plan was used for Ben Crowl’s FS Bancorp (FSBW) share purchase?

The 18-share purchase was made under FS Bancorp’s Nonqualified 2022 Stock Purchase Plan. The footnote explains that these shares were acquired through this plan and that the transaction includes a 25% company match, highlighting it as a structured stock purchase arrangement.

What does transaction code J mean on Ben Crowl’s FS Bancorp (FSBW) Form 4?

Transaction code J on the Form 4 signals a transaction categorized as other, here tied to a stock purchase plan. The filing specifies that the 18 shares were purchased under FS Bancorp’s Nonqualified 2022 Stock Purchase Plan, which also provides a 25% matching component.