Timberland Bancorp Director Reports Option Activity and Share Changes

Rhea-AI Filing Summary

Robert A. Drugge, a director of Timberland Bancorp Inc. (TSBK), reported transactions on 08/13/2025 that changed his direct holdings. The filing shows an acquisition of 2,000 common shares at $10.71 per share, bringing his reported direct common-stock holdings to 38,245 shares. The report also records derivative activity tied to stock options: 2,000 options were acquired and the filing shows 14,600 options held following the transaction.

The filing notes a position of 6,773 shares identified with a footnote that they are held directly through an IRA. The disclosure was made by a single reporting person and was submitted via a power of attorney representative.

Positive

• Acquisition of 2,000 common shares at $10.71, increasing direct holdings to 38,245 shares
• Reported acquisition of 2,000 stock options and 14,600 options held following the transaction

Negative

• Disposition/notation of 6,773 shares identified with a footnote as held through an IRA

Insights

Financial Analyst

TL;DR: Director Drugge increased direct equity exposure by acquiring 2,000 shares and holds significant outstanding options.

The report documents a purchase of 2,000 common shares at $10.71 and concurrent derivative reporting showing 2,000 options acquired and 14,600 options owned after the transaction. For investors, insider purchases can signal confidence, but the filing does not disclose aggregate stake relative to shares outstanding or the company’s market capitalization, limiting assessment of materiality. The reported 6,773-share IRA position is noted separately and does not change the direct-holding disclosure.

Corporate Governance Expert

TL;DR: Transaction reporting is routine and properly discloses direct and derivative holdings, with an IRA footnote for certain shares.

The Form 4 lists the reporting person as a director and records both non-derivative and derivative movements on 08/13/2025, including direct ownership of 38,245 shares after the reported activity and 14,600 options outstanding. The presence of a power of attorney signing the form is disclosed. There are no governance red flags in the disclosure itself; it provides clear counts and a footnote that 6,773 shares are held through an IRA.

Insider Trade Summary

2,000 shares exercised/converted

Mixed 3 txns

Insider DRUGGE ROBERT A

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	2,000	$0.00	--
Exercise	Common Stock, $.01 par value	2,000	$10.71	$21K
holding	Common Stock, $.01 par value	--	--	--

Holdings After Transaction: Stock Options (Right to Buy) — 14,600 shares (Direct); Common Stock, $.01 par value — 38,245 shares (Direct)

Footnotes (1)

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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^*

DRUGGE ROBERT A

(Last) (First) (Middle)

624 SIMPSON AVENUE

(Street)

HOQUIAM WA 98550

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TIMBERLAND BANCORP INC [ TSBK ]

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)
08/13/2025

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, $.01 par value(1)	08/13/2025		M		2,000	A	$10.71	38,245	D
Common Stock, $.01 par value								6,773(1)	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
Stock Options (Right to Buy)	$10.71	08/13/2025		M			2,000	09/22/2015	09/22/2025	Common Stock	2,000	$0	14,600	D

Explanation of Responses:

1. Shares held directly through an IRA.

	/s/Cheryl Parks, Power of Attorney for Robert A.	08/13/2025
	** 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 did Timberland Bancorp (TSBK) director Robert A. Drugge report on the Form 4?

He reported acquiring 2,000 common shares at $10.71, holding 38,245 shares directly after the transaction, and reporting derivative holdings of 14,600 options.

When did the reported transactions for Robert A. Drugge occur?

The transactions are recorded with a transaction date of 08/13/2025.

How many stock options does the Form 4 show Robert A. Drugge owning after the transaction?

The Form 4 shows 14,600 derivative securities (stock options) beneficially owned following the reported transactions.

What is the significance of the 6,773 shares noted on the Form 4?

The filing footnote states those 6,773 shares are held directly through an IRA.

Who signed the Form 4 on behalf of Robert A. Drugge?

The form bears a signature by Cheryl Parks, Power of Attorney for Robert A. Drugge.