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Timberland Bancorp (TSBK) Form 4 — 215 Restricted Shares Vested; 50 Withheld for Taxes

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

Rhea-AI Filing Summary

Robert A. Drugge, a director of Timberland Bancorp Inc. (TSBK), reported a Section 16 transaction dated 09/24/2025 when 215 restricted shares vested. Of those vested shares, 50 were withheld by the issuer to satisfy state and federal tax obligations on the reporting person's behalf (recorded as a disposition under Code F at a reported price of $0). Following the transaction, the reporting person beneficially owned 38,895 shares directly and held an additional 6,773 shares indirectly through an IRA.

The Form 4 was signed by Cheryl Parks as Power of Attorney on 09/25/2025. The filing discloses routine equity vesting and tax withholding; no derivative transactions or other material changes were reported.

Positive

  • Transparent disclosure of restricted stock vesting and tax withholding under Form 4
  • Clear ownership figures: 38,895 shares direct and 6,773 shares held indirectly via IRA
  • Form signed by power of attorney, indicating procedural completeness

Negative

  • None.

Insights

TL;DR: Routine insider vesting with tax-withholding; no material change to ownership stake.

The report documents the vesting of 215 restricted shares with 50 shares withheld for taxes, reducing the immediate share delivery but not indicating a sale on the open market. The director retains 38,895 direct shares and 6,773 indirect shares via an IRA, so the transaction is immaterial relative to a typical institutional-cap company ownership profile and does not signal a change in control or strategic disposition.

TL;DR: Proper disclosure of restricted stock vesting and tax withholding; Form 4 appears compliant and routine.

The filing clearly identifies the reporting person as a director and uses Code F to record the withholding of 50 vested shares to satisfy tax obligations. Signature by a power of attorney is provided with date 09/25/2025. There are no governance red flags or unexpected leadership transactions disclosed in this submission.

Insider DRUGGE ROBERT A
Role Director
Type Security Shares Price Value
Tax Withholding Common Stock, $.01 par value 50 $0.00 --
holding Common Stock, $.01 par value -- -- --
Holdings After Transaction: Common Stock, $.01 par value — 38,895 shares (Direct)
Footnotes (1)
  1. As previously reported 215 shares of restricted stock vested on September 24, 2025 of which 50 shares were withheld at the election of the Reporting Person for Issuer to pay the value of the vested shares to state and federal tax authorities for the Reporting Person's account. 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)
09/24/2025
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) 09/24/2025 F 50 D $0 38,895 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. As previously reported 215 shares of restricted stock vested on September 24, 2025 of which 50 shares were withheld at the election of the Reporting Person for Issuer to pay the value of the vested shares to state and federal tax authorities for the Reporting Person's account.
2. Shares held directly through an IRA
/s/Cheryl Parks, Power of Attorney for Robert A. Drugge 09/25/2025
** 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?

The Form 4 reports the vesting of 215 restricted shares on 09/24/2025, with 50 shares withheld to pay state and federal taxes.

How many Timberland Bancorp (TSBK) shares does Robert A. Drugge beneficially own after the transaction?

He beneficially owns 38,895 shares directly and 6,773 shares indirectly through an IRA.

Was any open-market sale reported for the vested shares?

No open-market sale was reported; the transaction code F reflects withholding of vested shares for tax purposes at a reported price of $0.

Who signed the Form 4 and when?

The Form 4 was signed by Cheryl Parks as Power of Attorney for Robert A. Drugge on 09/25/2025.

Does the filing show any derivative transactions or option exercises for TSBK?

No derivative securities, options, or exercises are reported in Table II of the filing.