[Form 4] TIMBERLAND BANCORP INC Insider Trading Activity

Rhea-AI Filing Summary

TIMBERLAND BANCORP INC (TSBK) director Kelly Suter was granted 700 restricted shares of common stock on 09/23/2025 at no cash price, bringing her total beneficial ownership to 2,445 shares. The restricted stock award will vest equally over three years. The Form 4 was filed by a single reporting person and signed by a power of attorney on 09/24/2025. The filing shows no derivative transactions and indicates direct ownership for the reported shares. This disclosure reflects a routine equity grant to an insider rather than a market sale or purchase transaction.

Insights

Financial Analyst

TL;DR: A routine 700-share restricted stock grant to a director increases alignment but is immaterial to company valuation.

The grant of 700 restricted common shares at $0 on 09/23/2025 increases the reporting director's beneficial holdings to 2,445 shares and vests equally over three years. From a financial perspective, this is a non-cash compensation expense for the company when recognized and is typical for aligning management and board incentives with shareholders. The size of the award is small relative to typical outstanding share counts for public banks, so the immediate market impact and dilution are likely negligible. No derivative activity or sales are reported, and the filing was executed by a power of attorney on 09/24/2025.

Corporate Governance Expert

TL;DR: Governance-wise this is a standard director equity grant with multi-year vesting to encourage retention.

The restricted stock award vesting equally over three years aligns with common retention and governance practices for board members. The Form 4 shows direct beneficial ownership and no indication of indirect holdings or interlocking transactions. The filing is timely (reported the day after the grant) and signed by a designated power of attorney, satisfying disclosure procedures. This action appears routine and consistent with board compensation norms rather than indicating any unusual governance event.

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
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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^*

Suter Kelly

(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, $.01 par value(1)	09/23/2025		A		700	A	$0	2,445	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.

	/s/Cheryl Parks, Power of Attorney for Kelly Sutter	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 Kelly Suter report on the Form 4 for TSBK?

The report discloses a restricted stock award of 700 shares dated 09/23/2025.

How many shares does Kelly Suter beneficially own after the transaction?

Following the award, Kelly Suter beneficially owns 2,445 shares.

When do the restricted shares vest according to the Form 4?

The restricted shares will vest equally over three years.

Was any cash paid for the restricted stock award disclosed?

No cash price was reported; the price is shown as $0, indicating a grant rather than a purchase.

Does the filing show any derivative transactions for the reporting person?

No. Table II for derivative securities shows no transactions.