FSEA Insider Filing: 1,200-Share Purchase; 19,593 Options/Restricted Shares Disclosed

Rhea-AI Filing Summary

Mark P. Boulanger, a director of First Seacoast Bancorp (FSEA), reported a purchase of 1,200 shares of the issuer's common stock on 09/03/2025 at $11.47 per share. After the reported purchase, the filing shows 6,501 shares held indirectly in an IRA and a reported disposition of 7,759 shares. The report also discloses two outstanding option grants exercisable for 9,343 shares (exercise price $8.06, expiring 05/25/2033) and 10,250 shares (exercise price $9.29, expiring 12/02/2034), both held directly. Vesting notes state restricted stock and the second option tranche vest at 33 1/3% per year commencing 12/02/2025, while the first option tranche vests at the same annual rate commencing 05/25/2024. The form is signed via power of attorney on 09/03/2025.

Positive

• Director purchase of 1,200 shares at $11.47, signaling an addition to insider holdings
• Substantial exercisable options reported (9,343 and 10,250 shares) which align management incentives with shareholders
• Clear vesting schedules for restricted stock and options (33 1/3% per year), reducing immediate dilution risk

Negative

• Reported disposition of 7,759 shares reduces insider's net holdings and lacks contextual detail in this filing
• Signature via power of attorney (Victor L. Cangelosi) instead of the reporting person, which may reduce immediacy of direct attestation

Insights

Securities Analyst

TL;DR: Director bought 1,200 shares and holds material in-the-money options, with structured vesting schedules.

The Form 4 shows an open-market purchase of 1,200 common shares at $11.47, increasing the director's reported indirect IRA holdings to 6,501 shares. The filing also records a disposition of 7,759 shares without further detail on timing or rationale. Notably, the reporting person holds 9,343 options at $8.06 (exercisable, expiring 2033) and 10,250 options at $9.29 (exercisable from 12/02/2025, expiring 2034). Both option grants and restricted shares have multi-year vesting (33 1/3% per year), which affects future insider supply and potential dilution. These option strike prices are below the reported purchase price, indicating existing in-the-money positions for the director.

Corporate Governance Expert

TL;DR: Routine insider activity with POA signature; vesting schedules and a share disposition warrant disclosure clarity.

The filing is consistent with standard director compensation and insider reporting: option grants with staged vesting and a restricted share schedule. The signature was executed by an attorney-in-fact, which is permitted but should be transparent to shareholders. The reported disposition of 7,759 shares appears material to the director's net position yet lacks context in this filing (e.g., sale date, proceeds). For governance transparency, accompanying disclosures (if any) would clarify whether transactions relate to planned sales, taxes, or other causes.

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^*

Boulanger Mark P.

(Last) (First) (Middle)

633 CENTRAL AVENUE

(Street)

DOVER NH 03820

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
First Seacoast Bancorp, Inc. [ FSEA ]

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)
09/03/2025

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	09/03/2025		P		1,200	A	$11.47	6,501	I	By IRA
Common Stock								7,759(1)	D
Common Stock								4,000	I	By Trust

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
Stock Options	$8.06							05/25/2024	05/25/2033	Common Stock	9,343(2)		9,343(2)	D
Stock Options	$9.29							12/02/2025	12/02/2034	Common Stock	10,250(3)		10,250(3)	D

Explanation of Responses:

1. Shares of restricted stock vest at a rate of 33 1/3% per year commencing on December 2, 2025.

2. Stock options vest at a rate of 33 1/3% per year commencing on May 25, 2024.

3. Stock options vest at a rate of 33 1/3% per year commencing on December 2, 2025.

	/s/ Victor L. Cangelosi, pursuant to power of attorney	09/03/2025
	** 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 transaction did Mark P. Boulanger report on Form 4 for FSEA?

The filing reports a purchase of 1,200 shares of First Seacoast Bancorp common stock on 09/03/2025 at a price of $11.47 per share.

How many FSEA options does the reporting person hold and what are the exercise prices?

The report discloses 9,343 options with a $8.06 exercise price (expiring 05/25/2033) and 10,250 options with a $9.29 exercise price (expiring 12/02/2034).

Did the Form 4 show any share dispositions by the insider?

Yes, the filing shows a disposition of 7,759 common shares (reported as 'D' in the document) but does not provide additional context in this form.

What vesting schedules are disclosed in the Form 4?

The filing states restricted stock and the second option tranche vest at 33 1/3% per year commencing 12/02/2025; the first option tranche vests at the same rate commencing 05/25/2024.

Who signed the Form 4 for the reporting person?

The form was signed by Victor L. Cangelosi pursuant to power of attorney on 09/03/2025.