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

Rhea-AI Filing Summary

Phillip Whittington, identified as an officer (Chief Financial Officer) of FS Bancorp, Inc. (FSBW), reported a securities transaction dated 08/06/2025. The filing states he purchased shares under the issuer's Nonqualified 2022 Stock Purchase Plan, which includes a 25% match. The table lists 96 shares acquired at $39.20 and shows 312 shares beneficially owned following the reported transaction as direct ownership.

The Form 4 also records a disposal of 3,396 shares in Table I and discloses 234 shares held indirectly via an ESOP. The document is signed by Mr. Whittington on 08/08/2025. The filing is a routine Section 16 disclosure of insider purchases and other ownership details; it does not provide additional narrative beyond the transaction entries and the plan explanation.

Positive

• Purchase under company plan: The acquisition was made through FS Bancorp's Nonqualified 2022 Stock Purchase Plan, which includes a 25% employer match.
• Timely disclosure: The Form 4 is signed on 08/08/2025, documenting the 08/06/2025 transaction and providing investor transparency on insider activity.

Negative

• Notable disposal recorded: Table I lists a disposal of 3,396 shares (marked D) with no additional explanation in the filing.
• Multiple ownership entries: The filing shows both acquisition and disposal activity plus 234 shares held indirectly via an ESOP, which complicates a simple buy-signal interpretation.

Insights

Financial Analyst

TL;DR: CFO purchased 96 shares at $39.20 under the company purchase plan; filing also shows a 3,396-share disposal and 234 ESOP-held shares.

The filing documents a small open-market or plan-sourced purchase executed on 08/06/2025 under FS Bancorp's Nonqualified 2022 Stock Purchase Plan that includes a 25% employer match. The reported purchase quantity is 96 shares at a listed price of $39.20 and the table shows direct beneficial ownership of 312 shares after the transaction. Separately, the table includes a disposal entry of 3,396 shares and an indirect holding of 234 shares via the ESOP. From a financial viewpoint, the purchase size reported is modest and, without context on total outstanding shares or prior holdings beyond the listed figures, the transaction appears unlikely to be material to company valuation on its own.

Corporate Governance Expert

TL;DR: Form 4 documents a plan-based purchase with employer match and contains both acquisition and disposal entries; filing is signed and dated.

The Form 4 identifies the reporting person and role, specifies a transaction date of 08/06/2025 and includes an explanatory note that the shares were purchased under the issuer's Nonqualified 2022 Stock Purchase Plan with a 25% match. The presence of both acquisition and disposal entries in Table I is notable for record-keeping and SEC transparency. The form bears the reporting person's signature dated 08/08/2025, fulfilling the filing requirement to report changes in beneficial ownership. The filing does not indicate additional governance events, exemptions, or that a Rule 10b5-1 trading plan was used.

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^*

Whittington Phillip Dean

(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 Financial Officer

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)		96	A	$39.2	312	D
Common Stock								3,396	D
Common Stock								234	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/ Phillip Whittington	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

What did FS Bancorp (FSBW) insider Phillip Whittington report on this Form 4?

The filing reports a purchase of 96 shares dated 08/06/2025 under the issuer's Nonqualified 2022 Stock Purchase Plan that includes a 25% match.

How many shares did Phillip Whittington beneficially own after the reported transaction?

The table shows 312 shares beneficially owned following the reported transaction as direct ownership.

Does the Form 4 include any stock sales by Phillip Whittington?

Yes. Table I includes an entry indicating a disposal of 3,396 shares (marked D) in the filing.

Are there any indirect holdings disclosed for Phillip Whittington?

The filing lists 234 shares as indirectly held via an ESOP.

When was the Form 4 signed and filed?

The signature block shows Phillip Whittington signed the form on 08/08/2025.