FS Bancorp grants 3,164 restricted shares to EVP

FS Bancorp, Inc. (FSBW) reported that Chief Lending Officer and EVP Ben Crowl received an award of 3,164 shares of restricted common stock on August 14, 2026 under the FS Bancorp, Inc. 2026 Equity Incentive Plan.

Rhea-AI Filing Summary

FS Bancorp, Inc. (FSBW) reported that Chief Lending Officer and EVP Ben Crowl received an award of 3,164 shares of restricted common stock on August 14, 2026 under the FS Bancorp, Inc. 2026 Equity Incentive Plan. The restricted stock vests in equal installments of 25% per year beginning on August 15, 2027. On the same date, 592 shares of common stock were delivered or withheld at $43.48 per share for payment of exercise price or tax liability. Crowl also reports 986 shares of common stock held indirectly through an ESOP.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Crowl Ben

Role Chief Lending Officer/EVP

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	3,164	--	--
Exercise Price or Tax Liability	Common Stock	592	$43.48	$26K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 19,524 shares (Direct); Common Stock — 986 shares (Indirect, By ESOP)

Footnotes (1)

1. F1. Represents award of restricted stock pursuant to the FS Bancorp, Inc. 2026 Equity Incentive Plan. Vests in equal installments of 25% per year beginning on August 15, 2027.

Key Figures

Restricted stock award: 3,164 shares Vesting rate: 25% per year Vesting start date: August 15, 2027 +3 more

6 metrics

Restricted stock award 3,164 shares Restricted common stock granted to Ben Crowl on August 14, 2026

Vesting rate 25% per year Restricted stock vests in equal annual installments

Vesting start date August 15, 2027 First vesting date for the 2026 restricted stock award

Shares delivered/withheld 592 shares Code F transaction for exercise price or tax liability

Transaction price $43.48 per share Per-share value for the 592-share code F transaction

Indirect ESOP holdings 986 shares Common stock held indirectly by ESOP for Ben Crowl

Key Terms

restricted stock, Equity Incentive Plan, ESOP, Payment of exercise price or tax liability

4 terms

restricted stock financial

"Represents award of restricted stock pursuant to the FS Bancorp, Inc. 2026 Equity"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Equity Incentive Plan financial

"pursuant to the FS Bancorp, Inc. 2026 Equity Incentive Plan. Vests in equal"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

ESOP financial

"total_shares_following_transaction":"986.0000","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.

Payment of exercise price or tax liability financial

"transaction_code_description":"Payment of exercise price or tax liability by delivering"

FAQ

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

What insider equity award did FSBW grant to Ben Crowl on August 14, 2026?

FS Bancorp (FSBW) granted Ben Crowl an award of 3,164 shares of restricted common stock on August 14, 2026. The award was made under the FS Bancorp, Inc. 2026 Equity Incentive Plan and is subject to multi-year vesting conditions.

How does the restricted stock granted to Ben Crowl at FSBW vest?

The 3,164 restricted shares granted to Ben Crowl vest in equal installments of 25% per year. Vesting begins on August 15, 2027, meaning the award will be fully vested after four annual vesting dates, assuming continued eligibility.

What was the Form 4 code F transaction for FSBW on August 14, 2026?

The Form 4 reports a code F transaction involving 592 shares of FSBW common stock at $43.48 per share. These shares were delivered or withheld to satisfy exercise price or tax liability in connection with an equity transaction.

Does Ben Crowl have any indirect holdings of FSBW stock?

Yes. The filing shows 986 shares of FS Bancorp (FSBW) common stock held indirectly "By ESOP". This indicates an employee stock ownership plan account associated with Ben Crowl, reported as indirect beneficial ownership.

Was the Ben Crowl Form 4 for FSBW filed under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmed, indicating it is not reported as made under a Rule 10b5-1 trading plan. The reported transactions are described directly without reference to any pre-arranged trading plan.

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

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Available on EDGAR 08/18/2026 - 03:48 PM Accepted by SEC EDGAR 08/18/2026 - 03:48 PM 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)
08/14/2026

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	08/14/2026		A		3,164	A	(1)	19,953	D
Common Stock	08/14/2026		F		592	D	$43.48	19,361	D
Common Stock								163	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. Represents award of restricted stock pursuant to the FS Bancorp, Inc. 2026 Equity Incentive Plan. Vests in equal installments of 25% per year beginning on August 15, 2027.

	/s/Benjamin Crowl	08/18/2026
	** 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)