Marathon Bancorp Insider Tax-Related Share Transfer Leaves Major Holdings Intact

Rhea-AI Filing Summary

Marathon Bancorp, Inc. (MBBC) – Insider Form 4 filing

SVP & CFO Joy Selting-Buchberger reported a routine Code F transaction dated 28 June 2025, indicating 517 common shares were withheld at $9.99 (≈ $5.2 k) to satisfy tax obligations on recently-vesting restricted stock. No open-market sale occurred.

Post-withholding, the executive directly owns 5,338 common shares; indirect holdings include 21,788 shares through the 401(k) and 1,264 shares via the ESOP. In addition, she holds 10,803 vested/unvested stock options at exercise prices of $8.1294 and $6.4831 that vest 20 % annually through 2033.

The filing shows ongoing alignment between the CFO and shareholders via meaningful equity exposure, while the small tax-related disposition is unlikely to influence the float or signal a change in sentiment.

Positive

• Executive retains significant equity (≈ 28 k shares plus 10.8 k options), reinforcing alignment with shareholder interests.
• Vesting of restricted stock and options suggests ongoing execution of long-term incentive plan.

Negative

• Small share disposition (517 shares) increases free float marginally, though it is tax-related and immaterial.

Insights

Equity Compensation Specialist

TL;DR: Routine tax-withholding; insider keeps sizeable stake.

The 517-share Code F transfer is a non-discretionary withholding to cover taxes on restricted-stock vesting, not an open-market sale. Remaining direct + indirect ownership (≈ 28 k shares) plus 10.8 k options underscores long-term alignment. Given MBBC’s limited trading volume, the event is immaterial to valuation or liquidity. I rate the impact neutral.

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

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^*

Selting-Buchberger Joy

(Last) (First) (Middle)

500 SCOTT STREET

(Street)

WAUSAU WI 54403

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Marathon Bancorp, Inc. /MD/ [ MBBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/28/2025

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	06/28/2025		F		517	D	$9.99	5,338(1)(2)	D
Common Stock								21,788	I	By 401(k)
Common Stock								1,264	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
Stock Options	$8.1294							06/28/2023	06/28/2032	Common Stock	5,999(3)		5,999(3)	D
Stock Options	$6.4831							05/16/2024	05/16/2033	Common Stock	4,804(4)		4,804(4)	D

Explanation of Responses:

1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on June 28, 2023.

2. Includes shares of restricted stock which vest at a rate of 20% per year commencing on May 16, 2024.

3. Stock options vest at a rate of 20% per year commencing on June 28, 2023.

4. Stock options vest at a rate of 20% per year commencing on May 16, 2024.

	/s/ Benjamin Azoff, pursuant to power of attorney	07/01/2025
	** 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 MBBC’s CFO do in the latest Form 4?

She had 517 shares withheld at $9.99 on 06/28/2025 to cover taxes on restricted-stock vesting.

How many Marathon Bancorp shares does Joy Selting-Buchberger now own?

5,338 shares directly, 21,788 via 401(k), and 1,264 through the ESOP.

Were any MBBC shares sold on the open market?

No. The Code F transaction was a tax-withholding transfer, not an open-market sale.

What stock options does the executive hold?

10,803 options: 5,999 exercisable at $8.1294 (expire 06/28/2032) and 4,804 at $6.4831 (expire 05/16/2033), both vesting 20 % annually.

Does this filing indicate insider sentiment toward MBBC?

The action is administrative; the executive’s substantial remaining stake signals continued commitment rather than bearish sentiment.