[Form 4] PB Bankshares, Inc. Insider Trading Activity

Rhea-AI Filing Summary

PB Bankshares, Inc. (PBBK) director reports option exercise and stock acquisition. On 11/24/2025, the reporting person exercised stock options for 4,500 shares of common stock at an exercise price of $12.28 per share, coded as transaction type "M" (option exercise). After this transaction, the person directly beneficially owned 19,500 shares of common stock and indirectly beneficially owned 2,000 shares through the company.

The filing shows these 4,500 shares came from stock options originally covering 4,500 shares of common stock, with an exercise price of $12.28, first exercisable on November 14, 2023 and expiring on November 14, 2032. Following the exercise, 3,000 derivative securities (stock options) remained beneficially owned. The footnotes explain that both the restricted stock and these options vest at a rate of 20% per year commencing on November 14, 2023.

Insider Trade Summary

4,500 shares exercised/converted

Mixed 3 txns

Insider WOOLARD R CHESTON

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Options	4,500	$0.00	--
Exercise	Common Stock	4,500	$12.28	$55K
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options — 3,000 shares (Direct); Common Stock — 19,500 shares (Direct); Common Stock — 2,000 shares (Indirect, By Company)

Footnotes (1)

1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on November 14, 2023. Stock options vest at a rate of 20% per year commencing on November 14, 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^*

WOOLARD R CHESTON

(Last) (First) (Middle)

185 E. LINCOLN HIGHWAY

(Street)

COATESVILLE PA 19320

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PB Bankshares, Inc. [ PBBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		M		4,500	A	$12.28	19,500(1)	D
Common Stock								2,000	I	By Company

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	$12.28	11/24/2025		M			4,500	11/14/2023	11/14/2032	Common Stock	4,500(2)	$0	3,000(2)	D

Explanation of Responses:

1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on November 14, 2023.

2. Stock options vest at a rate of 20% per year commencing on November 14, 2023.

	/s/ Lindsay Bixler, pursuant to Power of Attorney	11/26/2025
	** 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).
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