FSBW Form 4: Marina Cofer-Wildsmith purchases shares under 2022 plan

Rhea-AI Filing Summary

Marina Cofer-Wildsmith, a director of FS Bancorp, Inc. (FSBW), reported changes in her beneficial ownership on 08/06/2025. The Form 4 shows she purchased 415 shares of common stock under the issuer's Nonqualified 2022 Stock Purchase Plan at a price of $39.20 per share; the purchase included a 25% employer match. Following the reported transactions she is shown as directly beneficially owning 2,532 shares.

The filing also lists a separate line recording a disposition of 8,910 common shares. The submission is signed by the reporting person and documents routine plan-based purchases alongside a separate reported disposition of shares.

Positive

• Director acquired 415 shares under the issuer's Nonqualified 2022 Stock Purchase Plan at $39.20 per share.
• The purchase included a 25% employer match, indicating standard company-supported employee equity participation.

Negative

• The filing also records a disposition of 8,910 common shares on a separate line, which reduces the reporting person’s overall holdings before or separate from the plan purchase.

Insights

Securities Analyst

TL;DR: Insider-plan purchase of 415 shares at $39.20 increased direct holdings to 2,532 shares; a separate 8,910-share disposition is also recorded.

The report documents a routine employee stock purchase under the Nonqualified 2022 Stock Purchase Plan with a 25% employer match, which resulted in an acquisition of 415 shares at $39.20 each. Such purchases align executive economic interests with shareholders but are modest in size based on the figures disclosed. The filing also includes a distinct line showing a disposition of 8,910 shares, which materially changes the net position reported and merits tracking in subsequent filings for clarity on timing and intent.

Corporate Governance Expert

TL;DR: Director activity shows both plan-based purchase and a large separate disposition; governance disclosure is timely but mixed in signal.

The Form 4 provides transparent disclosure of a purchase through a company stock plan that included a 25% match, reinforcing standard compensation alignment practices. However, the inclusion of a separate 8,910-share disposition on the same filing introduces a mixed signal about stake changes. From a governance perspective, timely Form 4 reporting is appropriate; investors may seek additional context in future filings to understand whether the disposition relates to prior compensation, diversification, or other transactions.

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^*

Cofer-Wildsmith Marina

(Last) (First) (Middle)

C/O FS BANCORP, INC.

6920 220TH STREET SW, SUITE 300

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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)		415	A	$39.2	2,532	D
Common Stock								8,910	D

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/ Marina Cofer-Wildsmith	08/06/2025
	** 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 Marina Cofer-Wildsmith report on Form 4 for FSBW?

On 08/06/2025 she reported a purchase of 415 shares at $39.20 under the Nonqualified 2022 Stock Purchase Plan (with a 25% match) and the form also lists a disposition of 8,910 shares.

How many FSBW shares does Marina Cofer-Wildsmith beneficially own after the reported transactions?

Following the reported transactions she is shown as directly beneficially owning 2,532 shares.

What relationship does the reporting person have to FS Bancorp (FSBW)?

The Form 4 identifies Marina Cofer-Wildsmith as a Director of FS Bancorp, Inc.

Which plan was used for the share purchase reported on the Form 4?

The purchase was executed under the issuer's Nonqualified 2022 Stock Purchase Plan and included a 25% employer match.

At what price were the shares purchased?

The Form 4 lists the purchase price as $39.20 per share.