[Form 4] The Bancorp Inc. Insider Trading Activity

Rhea-AI Filing Summary

Bath & Body Works, Inc. (BBWI) – Form 4

On 08/01/2025, CFO Eva C. Boratto reported an automatic share withholding tied to the vesting of restricted stock units. Transaction code “F” denotes shares withheld solely to satisfy taxes; no open-market trade occurred. The issuer retained 6,533 common shares at an implied value of $28.17 per share. After the withholding, Boratto’s direct ownership is 118,426 shares of BBWI common stock.

No derivative positions were reported and the filing shows no change to the executive’s economic exposure beyond the tax-related share surrender.

Positive

• CFO retains 118,426 shares after tax withholding, maintaining substantial equity alignment.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine tax-withholding; no signal on insider sentiment or fundamentals.

The “F” code confirms this was an administrative surrender of shares upon RSU vesting, not an active sale. Boratto still holds over 118k shares, so alignment with shareholders remains intact. Given the modest dollar value (~$184k) relative to BBWI’s market cap, the event is immaterial for valuation or liquidity. I classify the impact as neutral.

Corporate Governance Expert

TL;DR: Compliance event; reinforces orderly reporting and Section 16 discipline.

The timely filing signals good governance practice. Because the shares were withheld by the company, not disposed on the open market, there is no adverse optics around insider selling. Investors should view this purely as a compliance mechanism.

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^*

DeRowe Olek

(Last) (First) (Middle)

C/O THE BANCORP, INC.

409 SILVERSIDE ROAD, SUITE 105

(Street)

WILMINGTON DE 19809

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bancorp, Inc. [ TBBK ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Head Commercial RE

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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	08/04/2025		S(1)		30,000	D(1)	$64.0052(2)	50,507	D
Common Stock								3,563	I	By 401k plan account

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. Proceeds from the sale will primarily be used to satisfy a divorce settlement.

2. The Reporting Person sold, in multiple transactions, common shares at prices ranging from $63.50 to $64.52.

	/s/ Martin Egan, as attorney-in-fact	08/05/2025
	** 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

What type of transaction did BBWI's CFO report?

A code “F” transaction, meaning shares were withheld solely to cover taxes on vested RSUs.

How many Bath & Body Works shares were withheld for taxes?

6,533 common shares were automatically surrendered.

At what price were the shares valued for the withholding?

The shares were valued at $28.17 each.

How many BBWI shares does Eva C. Boratto now own?

She holds 118,426 shares directly.

Does the filing indicate open-market insider selling?

No. The transaction was administrative; no shares were sold on the open market.