Marathon Bancorp SVP has 41 shares withheld
Marathon Bancorp SVP and CCO Terry Cornish reported a small tax-related share disposition.
Rhea-AI Filing Summary
Marathon Bancorp SVP and CCO Terry Cornish reported a small tax-related share disposition. On the reported date, 41 shares of common stock were withheld at $14.50 per share to cover tax obligations, a non‑market transaction coded as a tax-withholding disposition.
After this, Cornish directly held 3,003 common shares, plus indirect holdings of 1,478 shares through an ESOP and 25,816 shares through a 401(k). Cornish also held stock options over 4,804 shares at $6.48 expiring on May 16, 2033 and 4,498 shares at $8.13 expiring on June 28, 2032, which vest 20% per year starting in 2023 and 2024.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise Price or Tax Liability: 41 shares
Exercise Price or Tax Liability
5 txns
Insider
Cornish Terry
Role
SVP and CCO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 41 | $14.50 | $594.50 |
| holding | Stock Options | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 3,003 shares (Direct);
Stock Options — 9,302 contracts (Direct);
Common Stock — 25,816 shares (Indirect, By 401(k));
Common Stock — 1,478 shares (Indirect, By ESOP)
Footnotes (4)
- 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. Stock options vest at a rate of 20% per year commencing on June 28, 2023.
- F4. Stock options vest at a rate of 20% per year commencing on May 16, 2024.
Key Figures
Tax-withheld shares: 41 shares
Withholding price: $14.50/share
Direct common shares: 3,003 shares
+4 more
7 metrics
Tax-withheld shares
41 shares
Common stock withheld for tax at $14.50 per share
Withholding price
$14.50/share
Price used for 41-share tax-withholding disposition
Direct common shares
3,003 shares
Directly held common stock after transactions
ESOP holdings
1,478 shares
Indirect common shares held by ESOP
401(k) holdings
25,816 shares
Indirect common shares held by 401(k)
Option grant 1
4,804 shares at $6.48
Stock options on common stock expiring May 16, 2033
Option grant 2
4,498 shares at $8.13
Stock options on common stock expiring June 28, 2032
Key Terms
tax-withholding disposition, ESOP, 401(k), stock options, +1 more
5 terms
tax-withholding disposition financial
"41 shares of common stock were withheld at $14.50 per share to cover tax obligations, a non‑market transaction coded as a tax-withholding disposition."
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.
ESOP financial
"Cornish directly held 3,003 common shares, plus indirect holdings of 1,478 shares through an ESOP and 25,816 shares through a 401(k)."
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
"He also had indirect holdings of 1,478 shares through an ESOP and 25,816 shares through a 401(k), plus stock options tied to an additional 9,302 underlying shares."
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.
stock options financial
"Cornish also held stock options over 4,804 shares at $6.48 expiring on May 16, 2033 and 4,498 shares at $8.13 expiring on June 28, 2032."
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 commencing on June 28, 2023."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did Marathon Bancorp (MBBC) report for Terry Cornish?
Marathon Bancorp reported a tax-related disposition by SVP and CCO Terry Cornish. 41 common shares were withheld at $14.50 per share to satisfy tax obligations, a routine event rather than an open-market sale, leaving his overall equity position largely unchanged.
What type of transaction is code F in the Marathon Bancorp (MBBC) Form 4?
Code F represents a tax-withholding disposition, not an open-market sale. In this case, 41 shares were delivered at $14.50 per share to cover tax liabilities associated with equity awards, a mechanical process typically triggered by vesting or exercises.
What stock option positions does Terry Cornish hold in Marathon Bancorp (MBBC)?
Cornish holds two stock option grants on Marathon Bancorp common stock. One covers 4,804 underlying shares at $6.48 expiring in 2033, and another covers 4,498 shares at $8.13 expiring in 2032, vesting 20% annually from 2023 and 2024.
How are Terry Cornish’s indirect Marathon Bancorp (MBBC) holdings structured?
Cornish’s indirect holdings are held through retirement-related plans. The Form 4 lists 1,478 common shares held by an ESOP and 25,816 shares held by a 401(k). These entries reflect beneficial ownership through employee benefit plans rather than directly owned brokerage accounts.
AI-generated analysis. How Rhea-AI works. Not financial advice.
