IF Bancorp (IROQ) director cashed out 2,500 shares in merger deal

Rhea-AI Filing Summary

IF Bancorp director Richard Stenzinger reported a disposition of 2,500 shares of Common Stock back to the company. The transaction occurred on March 12, 2026 and is coded as a disposition to the issuer. Following this transaction, his reported direct holdings of IF Bancorp common stock are 0 shares.

According to a merger agreement dated October 29, 2025 between IF Bancorp and ServBanc Holdco, Inc., each issued and outstanding share of IF Bancorp common stock was converted into the right to receive $26.40 in cash. The reported disposition reflects this cash-out treatment under the merger terms rather than an open-market sale.

Insights

Bank equity and M&A analyst

Director’s 2,500-share disposition reflects merger cash-out, not trading.

The filing shows director Richard Stenzinger disposing of 2,500 IF Bancorp common shares to the issuer, leaving him with 0 reported shares. The transaction code "D" and zero price indicate a non-market disposition rather than a typical sale.

A merger agreement between IF Bancorp and ServBanc Holdco, Inc. converted each outstanding share into the right to receive $26.40 in cash. This suggests the change in holdings is driven by the merger’s cash consideration mechanics, making it an administrative step tied to the deal rather than a discretionary trading signal.

No derivative positions are reported, and there is a single dispose-type transaction. From an investment perspective, this looks like routine completion of merger-related share treatment for this director, rather than an indication of changing sentiment about the business.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Stenzinger Richard

Role Director

Type	Security	Shares	Price	Value
Disposition	Common Stock	2,500	$0.00	--

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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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hours per response:			0.5

X

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^*

Stenzinger Richard

(Last) (First) (Middle)

201 EAST CHERRY STREET

(Street)

WATSEKA IL 30970

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IF Bancorp, Inc. [ IROQ ]

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)
03/12/2026

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	03/12/2026		D		2,500	D	(1)	0	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. Pursuant to the Agreement and Plan of Merger, dated as of October 29, 2025, between the Issuer and ServBanc Holdco, Inc., each issued and outstanding share of Issuer common stock was converted into the right to receive $26.40 cash consideration.

	/s/ Richard Stenzinger	03/12/2026
	** 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.

FAQ

What insider transaction did IF Bancorp (IROQ) disclose for Richard Stenzinger?

IF Bancorp reported that director Richard Stenzinger disposed of 2,500 shares of Common Stock back to the issuer. The transaction occurred on March 12, 2026 and left him with zero reported direct holdings of IF Bancorp common stock after completion.

Was the IF Bancorp (IROQ) insider transaction an open-market sale?

No, the transaction was coded as a disposition to the issuer with a per-share price of $0.00. This indicates an administrative return of shares, not an open-market sale on an exchange, and is linked to the company’s merger-related cash-out terms.

How many IF Bancorp (IROQ) shares did the director hold after the disposition?

After disposing of 2,500 shares of IF Bancorp Common Stock to the issuer, director Richard Stenzinger reported holding zero shares directly. The Form 4 lists total shares following the transaction as 0.0000, indicating his direct equity position in the stock was fully removed.

How is the $26.40 per share figure related to IF Bancorp (IROQ)?

A merger agreement between IF Bancorp and ServBanc Holdco, Inc. states that each issued and outstanding share of IF Bancorp common stock was converted into the right to receive $26.40 in cash. The director’s reported disposition reflects this cash consideration mechanism under the merger terms.

Does the IF Bancorp (IROQ) Form 4 show any remaining derivative positions for the director?

No, the Form 4 derivative summary is empty, indicating no remaining derivative securities such as options or warrants are reported for the director in this filing. The only reported transaction is the 2,500-share disposition of Common Stock to the issuer tied to the merger.

What does transaction code "D" mean in the IF Bancorp (IROQ) Form 4?

In this Form 4, transaction code "D" is described as a disposition to the issuer. It shows that 2,500 shares of IF Bancorp Common Stock were returned to the company, consistent with shares being cashed out under the merger agreement instead of sold in the open market.