Riverview Bancorp director Nies sells shares Nov. 3–4

The reported prices were weighted averages, with trades ranging from $6.1300 to $6.2001; Nies reported continuing to hold 147,522 shares.

Available on EDGAR 11/05/2026 - 05:18 PM EST Accepted by SEC EDGAR 11/05/2026 - 05:18 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Riverview Bancorp Inc. (RVSB) director Gerald Lee Nies sold 25,169 common shares on November 3, 2026, at a weighted average $6.1312 per share, and 18,001 shares on November 4 at a weighted average $6.1502. The reported price ranges were $6.1300–$6.1315 and $6.1313–$6.2001, respectively. Nies said the sales funded a required minimum distribution and personal retirement planning; he reported continuing to hold 147,522 shares.

Insider Trade Summary

Net Seller: 43,170 shares

Net Sell 2 txns

Insider NIES GERALD LEE

Role Director

Sold 43,170 shs ($265K)

Share of Position Sold 22.6%

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F3	18,001	$6.1502	$111K
Sale	Common Stock F1, F2	25,169	$6.1312	$154K

Holdings After Transaction: Common Stock — 147,522 shares (Direct)

Holdings Before and After: Common Stock, 190,692 to 147,522 shares (Direct)

Footnotes (3)

1. F1. The shares reported on this Form 4 were sold by the Reporting Person during an open trading window under the Issuer's Insider Trading Policy, following pre-clearance by the Issuer, to fund a required minimum distribution and general retirement from the Reporting Person's personal retirement account, in accordance with the Reporting Person's personal retirement planning. The sale was made for personal financial reasons and does not reflect any concern regarding, or change in the Reporting Person's view of, the Issuer's business, financial condition, or prospects. Following the sale, the Reporting Person continues to hold 147,522 shares of the Issuer's common stock and remains in compliance with the Issuer's director stock ownership guidelines.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.1300 to $6.1315, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.1313 to $6.2001, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote

Key Figures

Shares sold, November 3: 25,169 shares Weighted average sale price, November 3: $6.1312 per share Transaction price range, November 3: $6.1300–$6.1315 per share +4 more

7 metrics

Shares sold, November 3 25,169 shares Common stock sale on November 3, 2026

Weighted average sale price, November 3 $6.1312 per share Common stock sale on November 3, 2026

Transaction price range, November 3 $6.1300–$6.1315 per share Common stock sale on November 3, 2026

Shares sold, November 4 18,001 shares Common stock sale on November 4, 2026

Weighted average sale price, November 4 $6.1502 per share Common stock sale on November 4, 2026

Transaction price range, November 4 $6.1313–$6.2001 per share Common stock sale on November 4, 2026

Shares held after the sales 147,522 shares Nies reported continuing to hold Riverview Bancorp Inc. common stock

Key Terms

weighted average price, required minimum distribution, open trading window, director stock ownership guidelines

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

required minimum distribution financial

"to fund a required minimum distribution"

open trading window technical

"during an open trading window"

A designated period when company executives, directors and certain employees are permitted to buy or sell their employer’s stock under the company’s trading policy because material information has been disclosed. Think of it like scheduled store hours after a big delivery: it reduces the risk of trading on secret information, and investors watch insider activity during these windows as a signal of how those closest to the business view its prospects.

director stock ownership guidelines technical

"remains in compliance with the Issuer's director stock ownership guidelines"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many RVSB shares did director Gerald Lee Nies sell, and at what prices?

Gerald Lee Nies, a director of Riverview Bancorp Inc. (RVSB), sold 25,169 shares on November 3, 2026, at a weighted average $6.1312 per share, and 18,001 shares on November 4, 2026, at a weighted average $6.1502 per share. The respective transaction price ranges were $6.1300 to $6.1315 and $6.1313 to $6.2001.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

NIES GERALD LEE

(Last) (First) (Middle)

900 WASHINGTON STREET

SUITE 900

(Street)

VANCOUVER WASHINGTON 98660

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
RIVERVIEW BANCORP INC [ RVSB ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	11/03/2026		S		25,169(1)	D	$6.1312(2)	165,523	D
Common Stock	11/04/2026		S		18,001(1)	D	$6.1502(3)	147,522	D

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

Explanation of Responses:

1. The shares reported on this Form 4 were sold by the Reporting Person during an open trading window under the Issuer's Insider Trading Policy, following pre-clearance by the Issuer, to fund a required minimum distribution and general retirement from the Reporting Person's personal retirement account, in accordance with the Reporting Person's personal retirement planning. The sale was made for personal financial reasons and does not reflect any concern regarding, or change in the Reporting Person's view of, the Issuer's business, financial condition, or prospects. Following the sale, the Reporting Person continues to hold 147,522 shares of the Issuer's common stock and remains in compliance with the Issuer's director stock ownership guidelines.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.1300 to $6.1315, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.1313 to $6.2001, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote

	/s/ Gerald L. Nies	11/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)