Marathon Bancorp (MBBC) CEO boosts holdings by exercising 2,998 options

Rhea-AI Filing Summary

Marathon Bancorp, Inc. President and CEO Nicholas W. Zillges exercised stock options and acquired additional common shares of the company. On February 23, 2026, he exercised 2,998 stock options at a price of $0.00 per option, increasing his directly held options to 4,500.

The option exercise resulted in the acquisition of 2,998 shares of common stock at $6.48 per share, bringing his directly owned common stock to 37,801 shares. He also has indirect ownership of common stock through an IRA, an ESOP, and a 401(k) plan.

Footnotes indicate certain restricted stock and stock options vest at a rate of 20% per year beginning on June 28, 2023 or May 16, 2024, meaning his ability to fully access these awards increases gradually over several years.

Insider Trade Summary

2,998 shares exercised/converted

Mixed 6 txns

Insider Zillges Nicholas W

Role President and CEO

Type	Security	Shares	Price	Value
Exercise	Stock Options	2,998	$0.00	--
Exercise	Common Stock	2,998	$6.48	$19K
holding	Stock Options	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options — 4,500 shares (Direct); Common Stock — 37,801 shares (Direct); Common Stock — 604 shares (Indirect, By IRA)

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 May 16, 2024. Stock options vest at a rate of 20% per year commencing on June 28, 2023.

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)
02/23/2026

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	02/23/2026		M		2,998	A	$6.48	37,801(1)	D
Common Stock								604	I	By IRA
Common Stock								2,723	I	By ESOP
Common Stock								50,084	I	By 401(k)

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	$6.48	02/23/2026		M			2,998	05/16/2024	05/16/2033	Common Stock	2,998(2)	$0	4,500(2)	D
Stock Options	$8.13							06/28/2023	06/28/2032	Common Stock	29,994(3)		29,994(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 May 16, 2024.

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

	/s/ Benjamin Azoff, pursuant to power of attorney	02/24/2026
	** 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 did MBBC President and CEO Nicholas Zillges do in this Form 4 filing?

Nicholas Zillges exercised 2,998 stock options and received 2,998 Marathon Bancorp common shares. This increased both his directly held options and his direct share ownership in the company on February 23, 2026.

How many Marathon Bancorp (MBBC) options did Nicholas Zillges hold after the transaction?

After exercising 2,998 stock options, Nicholas Zillges held 4,500 stock options in total. These options vest over time, with vesting generally occurring at 20% per year starting on specified prior grant dates.

How many Marathon Bancorp (MBBC) common shares does Nicholas Zillges own directly after this Form 4?

Following the option exercise and share issuance, Nicholas Zillges directly owns 37,801 shares of Marathon Bancorp common stock. This reflects only his direct holdings, separate from any shares held through retirement or employee benefit plans.

At what price were the Marathon Bancorp (MBBC) shares acquired in this option exercise?

The 2,998 common shares issued from the option exercise were acquired at $6.48 per share. The underlying stock options themselves had a reported exercise price of $0.00, indicating no additional cash consideration for exercising the options.

Does the MBBC Form 4 show indirect Marathon Bancorp share ownership for Nicholas Zillges?

Yes. The filing shows indirect ownership of common stock held through an IRA, an ESOP, and a 401(k) plan. These indirect accounts collectively hold tens of thousands of Marathon Bancorp shares on his behalf, separate from his directly owned shares.

How do the vesting terms affect Nicholas Zillges’ MBBC restricted stock and options?

Footnotes state certain restricted stock and stock options vest at 20% per year starting June 28, 2023 or May 16, 2024. This gradual vesting means full ownership rights over these awards are realized progressively over several years, not immediately.