[Form 4] Marathon Bancorp, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marathon Bancorp (MBBC) – insider Form 4 filing

On 28 June 2025, SVP & Chief Credit Officer Terry Cornish satisfied tax-withholding obligations by having 225 common shares withheld at $9.99 each (Transaction Code F). Following the transaction, his direct holdings stand at 3,044 shares, while indirect ownership remains at 25,816 shares via the 401(k) and 1,478 shares through the ESOP.

The filing also reiterates previously granted stock-option awards—4,498 options (exercise $8.1294, exp. 2032) and 4,804 options (exercise $6.4831, exp. 2033)—with no new grants or exercises reported. Overall, the activity is routine, involves a de-minimis dollar amount (~$2.3 k) relative to market cap, and is unlikely to influence the investment thesis.

Insights

Securities Analyst

TL;DR – Routine tax-withholding; neutral impact

The Code F transaction reflects automatic share withholding to cover taxes on vested equity, not discretionary selling. Only 225 shares (<1% of Mr. Cornish’s total beneficial ownership) were removed, leaving his overall stake materially unchanged. No open-market activity or option exercises occurred. Given the small dollar value and the executive’s continued sizeable exposure to MBBC stock, the filing is non-material for valuation or sentiment purposes.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Cornish Terry

Role SVP and CCO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	225	$9.99	$2K
holding	Stock Options	--	--	--
holding	Stock Options	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 3,044 shares (Direct); Stock Options — 4,498 shares (Direct); Common Stock — 25,816 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. Includes shares of restricted stock which vest at a rate of 20% per year commencing on May 16, 2024. 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^*

Cornish Terry

(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 CCO

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		225	D	$9.99	3,044(1)(2)	D
Common Stock								25,816	I	By 401(k)
Common Stock								1,478	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	4,498(3)		4,498(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.
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