Marathon Bancorp SVP has shares withheld for taxes
Marathon Bancorp, Inc. executive Terry Cornish, SVP and Chief Credit Officer, reported updated holdings in company securities.
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Form Type
4
Rhea-AI Filing Summary
Marathon Bancorp, Inc. executive Terry Cornish, SVP and Chief Credit Officer, reported updated holdings in company securities. The only actual transaction was a tax-withholding disposition of 247 shares of Common Stock at $15.49 per share, used to cover tax obligations.
After this withholding, Cornish directly holds 6,256 Common shares, plus indirect interests in 2,250 shares through an ESOP and 27,205 shares through a 401(k). Cornish also holds stock options on 7,000 shares at $14.55, 4,804 shares at $6.48, and 4,498 shares at $8.13, with expirations between 2032 and 2036 and vesting at 20% per year as noted in the footnotes.
Insider Trade Summary
Exercise Price or Tax Liability: 247 shares
Exercise Price or Tax Liability
6 txns
Insider
Cornish Terry
Role
SVP and CCO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 247 | $15.49 | $4K |
| holding | Stock Options | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 6,256 shares (Direct);
Stock Options — 16,302 contracts (Direct);
Common Stock — 27,205 shares (Indirect, By 401(k));
Common Stock — 2,250 shares (Indirect, By ESOP)
Footnotes (6)
- F1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on June 28, 2023.
- F2. Includes shares of restricted stock which vest at a rate of 20% per year commencing on May 16, 2024.
- F3. Includes shares of restricted stock which vest at a rate of 20% per year commencing on June 15, 2027.
- F4. Stock options vest at a rate of 20% per year commencing on June 28, 2023.
- F5. Stock options vest at a rate of 20% per year commencing on May 16, 2024.
- F6. Stock options vest at a rate of 20% per year commencing on June 15, 2027.
Key Figures
Tax-withheld shares: 247 shares at $15.49
Direct common shares after transaction: 6,256 shares
ESOP indirect holdings: 2,250 shares
+4 more
7 metrics
Tax-withheld shares
247 shares at $15.49
Common Stock withheld for tax obligations
Direct common shares after transaction
6,256 shares
Directly held Common Stock following tax withholding
ESOP indirect holdings
2,250 shares
Indirect Common Stock ownership via ESOP
401(k) indirect holdings
27,205 shares
Indirect Common Stock ownership via 401(k)
Stock options grant 1
7,000 shares at $14.55
Options on Common Stock, expire 2036-06-15
Stock options grant 2
4,804 shares at $6.48
Options on Common Stock, expire 2033-05-16
Stock options grant 3
4,498 shares at $8.13
Options on Common Stock, expire 2032-06-28
Key Terms
tax-withholding disposition, Stock Options, restricted stock, ESOP, +1 more
5 terms
tax-withholding disposition financial
"transaction_action: tax-withholding disposition for 247 shares of Common Stock"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Stock Options financial
"security_title: Stock Options with underlying Common Stock shares"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
restricted stock financial
"Includes shares of restricted stock which vest at a rate of 20% per year"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
ESOP financial
"nature_of_ownership: By ESOP indicating indirect plan holdings"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
401(k) financial
"nature_of_ownership: By 401(k) indicating indirect retirement plan holdings"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Marathon Bancorp (MBBC) executive Terry Cornish report in this Form 4?
Terry Cornish reported updated holdings in Marathon Bancorp stock and options. The filing shows a tax-related withholding of 247 shares and confirms his remaining direct, indirect, and option positions in the company’s equity.
What indirect Marathon Bancorp holdings does Terry Cornish report in this Form 4?
Cornish reports indirect ownership of 2,250 Marathon Bancorp shares through an ESOP and 27,205 shares through a 401(k) plan. These plan-based holdings are separate from his directly held shares and are categorized as indirect ownership in the filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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