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IF Bancorp (IROQ) CEO disposes holdings in $26.40-per-share cash merger

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

IF Bancorp, Inc. President and CEO Walter H. Hasselbring III disposed of all reported common stock holdings in connection with the company’s merger. The Form 4 shows multiple issuer dispositions on March 12, 2026, covering direct and indirect accounts including an IRA, 401(k), spouse’s IRA and ESOP.

According to a merger agreement with ServBanc Holdco, Inc. dated October 29, 2025, each issued and outstanding IF Bancorp share was converted into the right to receive $26.40 in cash, so these dispositions reflect the cash-out of his equity position rather than open-market sales.

Positive

  • None.

Negative

  • None.

Insights

CEO’s IF Bancorp shares are cashed out via a $26.40-per-share merger, not sold on the open market.

The reporting shows President and CEO Walter H. Hasselbring III disposing of all reported common stock holdings through issuer dispositions on March 12, 2026. These include direct holdings and indirect positions through an IRA, 401(k), spouse’s IRA and an ESOP account, all ending with zero shares reported.

A footnote ties these transactions to the merger between IF Bancorp, Inc. and ServBanc Holdco, Inc. under an agreement dated October 29, 2025, which converts each issued and outstanding share into the right to receive $26.40 in cash. Because this is part of a company-wide cash merger, it is a structural change rather than a discretionary buy or sell decision by the CEO, so the informational value for ongoing fundamentals is limited.

Insider HASSELBRING WALTER H III
Role President and CEO
Type Security Shares Price Value
Disposition Common Stock 28,300 $0.00 --
Disposition Common Stock 13,700 $0.00 --
Disposition Common Stock 16,613 $0.00 --
Disposition Common Stock 1,500 $0.00 --
Disposition Common Stock 9,659 $0.00 --
Holdings After Transaction: Common Stock — 0 shares (Direct); Common Stock — 0 shares (Indirect, By IRA)
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
Estimated average burden
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*
HASSELBRING WALTER H III
(Last) (First) (Middle)
201 EAST CHERRY STREET
(Street)
WATSEKA IL 60970
(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
X Officer (give title below) Other (specify below)
President and CEO
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 28,300 D (1) 0 D
Common Stock 03/12/2026 D 13,700 D (1) 0 I By IRA
Common Stock 03/12/2026 D 16,613 D (1) 0 I By 401(k)
Common Stock 03/12/2026 D 1,500 D (1) 0 I By Spouse's IRA
Common Stock 03/12/2026 D 9,659 D (1) 0 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. 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/ Walter H. Hasselbring III 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.

Source: View Original Filing on SEC EDGAR

FAQ

What does the IF Bancorp (IROQ) Form 4 filing show for the CEO?

The Form 4 shows IF Bancorp’s President and CEO, Walter H. Hasselbring III, disposing of all reported common stock holdings on March 12, 2026 via issuer dispositions, reflecting a complete cash-out of his equity position tied to the merger transaction.

How many types of IF Bancorp (IROQ) accounts were involved in the CEO’s disposition?

The CEO’s dispositions cover multiple account types: directly held common stock and indirect holdings through an IRA, a 401(k), a spouse’s IRA and an ESOP, each reported with zero shares remaining after the transactions.

What cash consideration do IF Bancorp (IROQ) shareholders receive in the merger?

Under the merger agreement between IF Bancorp, Inc. and ServBanc Holdco, Inc., each issued and outstanding share of IF Bancorp common stock is converted into the right to receive $26.40 in cash, which also applies to the CEO’s disposed shares.

Are the IF Bancorp (IROQ) CEO’s Form 4 transactions open-market sales?

No. The transactions are coded as “Disposition to issuer” (D), meaning the shares were returned to the company as part of the merger process, not sold on the open market, and were converted into the right to receive $26.40 per share in cash.

What merger is referenced in the IF Bancorp (IROQ) Form 4 footnote?

The footnote references the Agreement and Plan of Merger dated October 29, 2025 between IF Bancorp, Inc. and ServBanc Holdco, Inc., which provides that each issued and outstanding IF Bancorp share is converted into the right to receive $26.40 in cash.