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

Rhea-AI Filing Summary

FS Bancorp insider transaction reported on Form 4. Donn C. Costa, Chief Home Lending, EVP, filed a Form 4 reporting common stock activity for FS Bancorp (FSBW) with a transaction date of 08/06/2025. The form records share activity tied to the Issuer's Nonqualified 2022 Stock Purchase Plan and states the purchase included a 25% match.

The filing's Table I shows an acquisition line of 64 common shares at a price of $39.20 that results in 4,254 shares beneficially owned directly. The filing also lists 76,172 (direct) and 9,307 shares indirectly owned by ESOP. The Form is signed on 08/07/2025.

Insights

Securities Analyst

TL;DR: Routine insider purchase under company stock plan; small direct acquisition and existing ESOP holdings noted.

The reported transaction on 08/06/2025 shows an insider purchase under the issuer's Nonqualified 2022 Stock Purchase Plan that includes a 25% employer match, which is a standard compensation mechanism. The filing explicitly records an acquisition of 64 common shares at $39.20 and a post-transaction direct beneficial ownership figure of 4,254 shares. The presence of 9,307 shares held indirectly via an ESOP is disclosed. No derivative securities are reported in Table II. From a trading-impact perspective, the sizes disclosed appear routine and the disclosure is consistent with compensation-plan purchases.

Corporate Governance Expert

TL;DR: Disclosure is complete for a Form 4 purchase; shows participation in company stock plan and ESOP indirect holdings.

The filing identifies the reporting person as Donn C. Costa, Chief Home Lending, EVP, and indicates the transaction was executed under the company's stock purchase plan with a 25% match, an expected form of employee equity compensation. The form lists numeric positions including 4,254 shares held directly after the transaction and 9,307 held indirectly by ESOP. The Form is signed 08/07/2025, and Table II contains no derivative entries. This is a standard officer disclosure rather than a governance event.

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
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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^*

COSTA DONN C

(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 Home Lending, EVP

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)		64	A	$39.2	4,254	D
Common Stock								76,172	D
Common Stock								9,307	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/ Donn C. Costa	08/07/2025
	** 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).
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