Timberland Bancorp director receives 700 restricted shares vesting over 3 years

Rhea-AI Filing Summary

Timberland Bancorp director Kathy D. Leodler received a restricted stock award of 700 shares on 09/23/2025, granted at no cash price, that vests equally over three years. After the award, Ms. Leodler beneficially owns 2,150 shares in total. The Form 4 was filed by a power of attorney on her behalf on 09/24/2025. The filing shows the grant as a non‑derivative acquisition (Code A) with a reported price of $0, indicating the award is restricted equity rather than a cash purchase. No derivative transactions or additional compensatory terms are disclosed.

Positive

• Restricted stock award aligns director and shareholder interests through equity compensation that vests over three years

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received a small restricted stock award that aligns her interests with shareholders but is not material to valuation.

The grant of 700 restricted shares to a director, vesting equally over three years, represents a typical equity‑based compensation mechanism to align governance incentives with shareholder outcomes. The award was reported as a zero‑price acquisition, indicating it is compensation rather than an open‑market purchase. Given the post‑transaction ownership of 2,150 shares, the award is modest in scale relative to typical public company equity balances and likely immaterial to capital structure or shareholder dilution.

Securities Analyst

TL;DR: Administrative Form 4 filing documents a routine restricted stock grant with limited investor impact.

The Form 4 discloses a non‑derivative restricted stock award (Code A) executed on 09/23/2025 and reported on 09/24/2025 by power of attorney. Vesting over three years suggests retention incentive. There are no cash proceeds, no option exercises, and no derivative positions reported. For investors, this is a routine insider compensation disclosure rather than a material corporate event.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Leodler Kathy D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $.01 par value	700	$0.00	--

Holdings After Transaction: Common Stock, $.01 par value — 2,150 shares (Direct)

Footnotes (1)

1. [object Object]

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^*

Leodler Kathy D

(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	2,150	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 Kathy D. Leodler	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 Kathy D. Leodler report on the Form 4 for TSBK?

The Form 4 reports a restricted stock award of 700 shares acquired on 09/23/2025 (Transaction Code A).

How many Timberland Bancorp (TSBK) shares does Kathy Leodler beneficially own after the transaction?

The filing shows 2,150 shares beneficially owned following the reported transaction.

What are the vesting terms of the restricted stock award?

The 700 restricted shares vest equally over three years, per the explanation in the filing.

Was any cash paid for the restricted shares reported on the Form 4?

No cash was reported; the price is listed as $0, indicating a compensatory restricted stock grant.

Who signed and filed the Form 4 for Kathy Leodler?

The Form 4 was signed by /s/Cheryl Parks, Power of Attorney for Kathy D. Leodler on 09/24/2025.