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Marathon Bancorp CEO reports small tax-related share sale in Form 4

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

Rhea-AI Filing Summary

Form 4 Filing – Marathon Bancorp, Inc. (MBBC) – 28 June 2025

President & CEO Nicholas W. Zillges reported a single Code F transaction, indicating the disposition of 1,196 common shares at $9.99 to cover taxes associated with previously granted equity awards. Following the withholding, Zillges directly owns 32,376 common shares. He also maintains indirect ownership of 47,780 shares through a 401(k), 604 shares in an IRA, and 2,723 shares via the ESOP.

No open-market purchases or sales were reported. The filing also lists outstanding stock options—29,994 options (exercise price $8.1294, expiring 2032) and 7,498 options (exercise price $6.4831, expiring 2033)—both vesting 20 % annually. These positions are disclosures only; no option exercises occurred.

Given the limited size (≈ $12k) and tax-withholding nature of the share disposition, the event is considered routine and unlikely to materially influence MBBC’s valuation or trading dynamics.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine tax-withholding sale; immaterial to valuation.

The Code F disposition of 1,196 shares (~$12k) is a standard share-withholding to satisfy tax on restricted-stock vesting. Post-transaction holdings reveal the CEO still has sizable equity exposure—over 80k shares/option equivalents—aligning interests with shareholders. No aggressive selling or new buying signals. The disclosure is informational, not directional, and should not sway investment theses.

Insider Zillges Nicholas W
Role President and CEO
Type Security Shares Price Value
Tax Withholding Common Stock 1,196 $9.99 $12K
holding Stock Options -- -- --
holding Stock Options -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 32,376 shares (Direct); Stock Options — 29,994 shares (Direct); Common Stock — 47,780 shares (Indirect, By 401(k))
Footnotes (1)
  1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on June 28, 2023. Stock options vest at a rate of 20% per year commencing on June 28, 2023. Stock options vest at a rate of 20% per year commencing on May 16, 2024.
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
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*
Zillges Nicholas W
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
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 1,196 D $9.99 32,376(1) D
Common Stock 47,780 I By 401(k)
Common Stock 604 I By IRA
Common Stock 2,723 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 29,994(2) 29,994(2) D
Stock Options $6.4831 05/16/2024 05/16/2033 Common Stock 7,498(3) 7,498(3) 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. Stock options vest at a rate of 20% per year commencing on June 28, 2023.
3. 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many MBBC shares did the CEO dispose of on 28 June 2025?

He disposed of 1,196 common shares, classified under Code F (tax withholding).

What is Nicholas Zillges’s total direct MBBC share ownership after the transaction?

His direct ownership stands at 32,376 common shares.

Were any MBBC stock options exercised in this Form 4 filing?

No. The filing only discloses existing option grants; no exercises occurred.

What are the exercise prices and expirations of the CEO’s outstanding MBBC options?

• $8.1294 expiring 28 Jun 2032 (29,994 options)
• $6.4831 expiring 16 May 2033 (7,498 options)

Does the 1,196-share sale signal insider bearishness on MBBC stock?

The sale is routine tax withholding; it is generally viewed as neutral rather than a bearish signal.