Timberland Bancorp (TSBK) CEO Receives 2,000 Restricted Shares with 5-Year Vesting

Rhea-AI Filing Summary

Dean J. Brydon, who serves as both a director and the CEO of Timberland Bancorp Inc. (TSBK), reported a securities transaction on 09/23/2025. He was granted 2,000 restricted shares of Common Stock at a price of $0; these restricted shares will vest equally over five years. After the reported grant, the Form 4 shows 35,921 shares held directly and 29,139 shares held indirectly through the Timberland Bank Employee Stock Ownership and 401(k) Plan (KSOP). The Form 4 was signed by Cheryl Parks as Power of Attorney on 09/24/2025.

Positive

• Acquisition of 2,000 restricted shares increases the CEO/director's direct equity stake.
• Five-year equal vesting ties compensation to long-term retention and alignment with shareholders.
• Clear disclosure of indirect holdings via the KSOP (29,139 shares) improves transparency of total beneficial ownership.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider restricted stock grant with multi-year vesting, aligning senior executive and board interests with shareholders.

The filing documents a standard restricted stock award to Dean J. Brydon, reported as an acquisition of 2,000 shares at no cash cost, with vesting over five years. Such grants are commonly used to retain executives and align management incentives with long-term shareholder value. The filing distinguishes direct holdings (35,921 shares) from indirect holdings via the KSOP (29,139 shares), providing transparent beneficial ownership disclosure. Filing by a Power of Attorney on 09/24/2025 is properly executed.

Executive Compensation Analyst

TL;DR: Non-cash restricted stock award emphasizes long-term retention; vesting schedule suggests retention-focused compensation.

The transaction is a non-derivative, non-cash grant of 2,000 restricted shares that vest equally over five years. From a compensation design perspective, multi-year equal vesting incentivizes continued service and aligns pay realization with future performance and continuity. The disclosure separates direct and KSOP-held shares, clarifying total economic exposure to company equity for the reporting person.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BRYDON DEAN J

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $.01 par value per share	2,000	$0.00	--
holding	Common Stock, $.01 par value per share	--	--	--

Holdings After Transaction: Common Stock, $.01 par value per share — 35,921 shares (Direct); Common Stock, $.01 par value per share — 29,139 shares (Indirect, By KSOP)

Footnotes (1)

1. Restricted Stock Award was granted on 9/23/2025. These shares will vest equally over 5 years. Represents shares held in the Timberland Bank Employee Stock Ownership and 401(k) Plan ("KSOP")

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^*

BRYDON DEAN J

(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
X	Officer (give title below)		Other (specify below)
	CEO

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, $.01 par value per share(1)	09/23/2025		A		2,000	A	$0	35,921	D
Common Stock, $.01 par value per share								29,139	I	By KSOP(2)

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 5 years.

2. Represents shares held in the Timberland Bank Employee Stock Ownership and 401(k) Plan ("KSOP")

	/s/Cheryl Parks, Power of Attorney for Dean J. Brydon	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.

FAQ

What transaction did Dean J. Brydon report for TSBK?

He reported a grant of 2,000 restricted shares of Timberland Bancorp Inc. common stock on 09/23/2025 at a reported price of $0.

How do the new shares vest for the TSBK grant to Dean J. Brydon?

The restricted shares will vest equally over five years, as stated in the Form 4 explanation.

What were Dean J. Brydon's total reported holdings after the transaction?

The Form 4 reports 35,921 shares held directly and 29,139 shares held indirectly through the Timberland Bank Employee Stock Ownership and 401(k) Plan (KSOP).

Who signed the Form 4 filing for Dean J. Brydon and when?

The Form 4 was signed by Cheryl Parks, Power of Attorney, on 09/24/2025.

What roles does the reporting person hold at Timberland Bancorp (TSBK)?

The Form 4 indicates Dean J. Brydon is both a Director and the CEO of Timberland Bancorp Inc.