Riverview Bancorp insider purchase signals confidence, shares at $4.92

Rhea-AI Filing Summary

Riverview Bancorp (RVSB) Form 4: EVP & Chief Risk/Deposit Executive Officer Charmaine Lightheart reported an open-market purchase of 508 common shares on 08/07/2025 at $4.92 (code “P”). The transaction lifts her direct ownership to 7,480 shares; she also holds 88 shares indirectly via the company ESOP. No derivative securities were involved.

The filing indicates modest insider confidence but the acquisition is very small—under 0.1% of RVSB’s shares outstanding and a cash outlay of roughly $2.5k—so its overall market impact should be limited.

Positive

• Executive insider purchase often interpreted as a vote of confidence in RVSB shares
• No derivative sales or hedging activities, reinforcing alignment with shareholders

Negative

• Purchase size is immaterial relative to company’s market cap and daily volume
• No additional fundamental information; filing alone is unlikely to move the stock

Insights

Financial Analyst

TL;DR: Small insider buy; positive signal but immaterial size, neutral market impact.

Open-market purchases by senior executives are generally viewed as bullish because they align management’s interests with shareholders. However, 508 shares represent a negligible stake in absolute and percentage terms. With no accompanying fundamentals or guidance changes, the filing is best interpreted as a minor confidence gesture rather than a catalyst. I therefore classify the impact as neutral.

Corporate Governance Specialist

TL;DR: Compliance-clean Form 4; no red flags or derivative complexity.

The report is straightforward: one cash purchase, no discretionary sales, no Rule 10b5-1 plan involvement. Absence of derivative trades suggests the officer is not hedging, which marginally strengthens the positive signal. That said, governance implications are minimal because ownership change is too small to affect control or voting dynamics.

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^*

Lightheart Charmaine

(Last) (First) (Middle)

900 WASHINGTON STREET, SUITE 900

(Street)

VANCOUVER WA 98660

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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	08/07/2025		P		508	A	$4.92	7,480	D
Common Stock								88	I	Shares held by the ESOP

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:

	/s/ Charmaine Lightheart	08/08/2025
	** 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).
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

How many RVSB shares did EVP Charmaine Lightheart buy?

She purchased 508 common shares.

At what price were the RVSB shares acquired?

The shares were bought at $4.92 per share.

What is Lightheart's total direct ownership after the transaction?

Her direct holdings rose to 7,480 shares.

Were any derivative securities involved in this Form 4 filing?

No, the report lists no options, warrants, or other derivatives.

What does transaction code “P” signify in a Form 4?

Code “P” indicates an open-market purchase of the issuer’s equity.

Is this insider purchase likely to impact RVSB's stock price?

Given the small size, the filing is viewed as neutral with limited market impact.