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Timberland Bancorp (TSBK) director receives 700 restricted shares, vests 3 years

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Robert A. Drugge, a director of Timberland Bancorp Inc. (TSBK), was awarded 700 restricted shares of common stock on 09/23/2025. The award carried a reported price of $0 and will vest equally over three years. Following the grant, Mr. Drugge is reported to beneficially own 38,945 shares directly. The filing also discloses 6,773 shares held directly through an IRA. The Form 4 was signed on behalf of Mr. Drugge by Cheryl Parks under power of attorney on 09/24/2025. The filing identifies Mr. Drugge as a director and indicates the report was filed by one reporting person.

Positive

  • 700 restricted shares granted to a director, aligning incentives with long-term shareholder value
  • Vesting over three years encourages retention and long-term performance alignment
  • Beneficial ownership disclosed: 38,945 shares after grant and 6,773 shares held in an IRA, improving transparency

Negative

  • None.

Insights

TL;DR: A routine director equity award of 700 restricted shares, representing continued alignment with shareholders but no immediate cash purchase.

The 700-share restricted stock award reported at a $0 price is a non-cash grant that vests over three years, which typically ties executive incentives to long-term share performance. Post-transaction beneficial ownership of 38,945 shares provides a sense of the director's existing stake, and the 6,773 shares held in an IRA indicate additional indirect holdings. This filing shows a standard compensation-related issuance rather than a market trade and is neutral for near-term valuation absent additional context on total shares outstanding or materiality thresholds.

TL;DR: Standard restricted stock grant to a director with multi-year vesting; consistent with governance practices to retain and incentivize board members.

The restricted shares vesting equally over three years align with common corporate governance practices to promote retention and long-term alignment. The use of a power of attorney signature is noted and permissible where disclosed. The Form 4 contains required detail on the nature of holdings (direct and IRA-held shares) and does not report any disposals or derivative transactions. Based solely on the filing, this is a routine governance action with limited immediate impact on shareholders.

Insider DRUGGE ROBERT A
Role Director
Type Security Shares Price Value
Grant/Award Common Stock, $0.01 par value 700 $0.00 --
holding Common Stock, $.01 par value -- -- --
Holdings After Transaction: Common Stock, $0.01 par value — 38,945 shares (Direct); Common Stock, $.01 par value — 6,773 shares (Direct)
Footnotes (1)
  1. Restricted Stock Award was granted on 9/23/2025. These shares will vest equally over three years. Shares held directly through an IRA.
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).
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)
09/23/2025
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, $0.01 par value(1) 09/23/2025 A 700 A $0 38,945 D
Common Stock, $.01 par value 6,773(2) 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. Restricted Stock Award was granted on 9/23/2025. These shares will vest equally over three years.
2. Shares held directly through an IRA.
/s/Cheryl Parks, Power of Attorney for Robert A. Drugge 09/24/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Robert A. Drugge report on Form 4 for TSBK?

He reported a grant of 700 restricted shares of Timberland Bancorp Inc. common stock on 09/23/2025, with a reported price of $0.

How will the awarded restricted shares vest for TSBK director Robert A. Drugge?

The restricted stock award will vest equally over three years according to the filing.

How many TSBK shares does Robert A. Drugge beneficially own after the reported transaction?

The filing states he beneficially owns 38,945 shares following the reported transaction.

Does the Form 4 show any derivative transactions or stock sales by Robert A. Drugge?

No. Table II lists no derivative transactions and Table I shows only the 700-share restricted award acquired; no disposals were reported.

Who signed the Form 4 for Robert A. Drugge and when?

The Form 4 was signed by Cheryl Parks as Power of Attorney for Robert A. Drugge on 09/24/2025.