TSBK Director Sells 3,800 Shares After Option Exercise – $125k Value

On 25-Jul-2025 Timberland Bancorp (TSBK) director Andrea M. Clinton exercised four option grants, acquiring 3,800 shares at strike prices of $16.87-$31.80.

Rhea-AI Filing Summary

On 25-Jul-2025 Timberland Bancorp (TSBK) director Andrea M. Clinton exercised four option grants, acquiring 3,800 shares at strike prices of $16.87-$31.80. She immediately sold the same 3,800 shares in the open market at $32.98, realizing roughly $125k in gross proceeds. Post-transaction, her direct holdings stand at 8,210 common shares and 2,200 remaining options. The filing shows no change in overall economic exposure beyond the reduction in option inventory, and does not involve the company’s cash. While option exercises can indicate confidence, the full offsetting sale suggests limited incremental commitment.

Positive

• Option overhang reduced: unexercised options drop from 5,000 to 2,200, slightly lowering potential future dilution.
• Director retains 8,210 shares, maintaining a continuing equity stake.

Negative

• Complete sale of newly acquired shares may be interpreted as limited near-term confidence.
• Net share position unchanged; no incremental insider buying signal to support valuation.

Insights

Financial Analyst

TL;DR: Small, offset insider sale; immaterial to fundamentals.

The director converted 3,800 options into stock and immediately liquidated the shares, netting ~$125k. Her direct stake remains modest at 8,210 shares, implying no major shift in ownership or voting power. Volume is negligible relative to TSBK’s average daily trading and market cap, so market impact should be minimal. The cashless exercise implies tax/portfolio management rather than a valuation call.

Corporate Governance Expert

TL;DR: Routine Form 4; signals neutral-to-slight negative sentiment.

Exercising and selling on the same day removes option overhang but also indicates the insider chose liquidity over longer-term share exposure. Because Clinton remains a board member, continued alignment exists, yet the absence of net share accumulation weakens the positive messaging typically associated with option exercises. Overall, the event is not impactful for governance assessment.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 9 txns

Insider CLINTON ANDREA M

Role Director

Sold 3,800 shs ($125K)

Approx. gross sale proceeds $125K

Approx. exercise cost $102K

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	1,000	$0.00	$0.00
Exercise	Stock Options (Right to Buy)	1,000	$0.00	$0.00
Exercise	Stock Options (Right to Buy)	1,000	$0.00	$0.00
Exercise	Stock Options (Right to Buy)	800	$0.00	$0.00
Exercise	Common Stock, $0.01 par value per share	1,000	$29.69	$30K
Exercise	Common Stock, $0.01 par value per share	1,000	$31.80	$32K
Exercise	Common Stock, $0.01 par value per share	1,000	$27.14	$27K
Exercise	Common Stock, $0.01 par value per share	800	$16.87	$13K
Sale	Common Stock, $0.01 par value per share	3,800	$32.98	$125K

Holdings After Transaction: Stock Options (Right to Buy) — 14,200 contracts (Direct); Common Stock, $0.01 par value per share — 8,210 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Timberland Bancorp shares did Andrea M. Clinton sell?

She sold 3,800 common shares on 25-Jul-2025 at $32.98 per share.

What was the total value of the shares sold?

At $32.98, the sale equates to roughly $125,000 in gross proceeds.

How many shares does the director now own?

After the transactions, Clinton directly owns 8,210 TSBK shares.

Did the insider retain any unexercised options?

Yes, 2,200 stock options remain outstanding post-transaction.

Is this Form 4 likely to affect TSBK’s stock price?

Given the small volume relative to float, the filing is not expected to materially impact the share price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 07/28/2025 - 02:30 PM Learn about SEC filing dates

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^*

CLINTON ANDREA M

(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)
07/25/2025

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 per share	07/25/2025		M		1,000	A	$29.69	9,210	D
Common Stock, $0.01 par value per share	07/25/2025		M		1,000	A	$31.8	10,210	D
Common Stock, $0.01 par value per share	07/25/2025		M		1,000	A	$27.14	11,210	D
Common Stock, $0.01 par value per share	07/25/2025		M		800	A	$16.87	12,010	D
Common Stock, $0.01 par value per share	07/25/2025		S		3,800	D	$32.98	8,210	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
Stock Options (Right to Buy)	$29.69	07/25/2025		M			1,000	09/23/2022	09/23/2027	Common Stock	1,000	$0	5,000	D
Stock Options (Right to Buy)	$31.8	07/25/2025		M			1,000	09/25/2023	09/25/2028	Common Stock	1,000	$0	4,000	D
Stock Options (Right to Buy)	$27.14	07/25/2025		M			1,000	09/24/2024	09/24/2029	Common Stock	1,000	$0	3,000	D
Stock Options (Right to Buy)	$16.87	07/25/2025		M			800	09/22/2025	09/22/2030	Common Stock	800	$0	2,200	D

Explanation of Responses:

	/s/Marci Basich Power of Attorney for Andrea M. Clinton	07/28/2025
	** 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.