Timberland Bancorp Insider Trades 836 Shares; Holds 17,768 Stake

Rhea-AI Filing Summary

Form 4 – Insider transaction

On 29 Jul 2025, Timberland Bancorp (TSBK) director David Alan Smith exercised 836 stock options at $10.71 (Code M) and immediately sold 836 common shares at $33.50 (Code S). After the cash-less exercise, Smith directly holds 17,768 shares and retains 7,164 unexercised options. No changes in his director status or additional derivative positions were reported. The single-day, like-for-like sale suggests liquidity rather than a directional stake change and does not appear material to TSBK’s overall share structure.

Insights

Securities Analyst

TL;DR: Routine cash-less option exercise; negligible impact on float or sentiment.

The transaction involves just 836 shares—insignificant versus Timberland Bancorp’s public float. Smith’s rapid sale of the exercised shares offsets any ownership increase, leaving his direct stake at 17,768 shares and preserving 7,164 options for future upside. Such trades are typical for covering tax or liquidity needs and provide limited insight into forward fundamentals. As no additional purchases or large disposals occurred, I view the filing as neutral for investors.

Insider Trade Summary

Net Seller: 836 shares ($28,006)

Net Sell 3 txns

Insider SMITH DAVID ALAN

Role Director

Sold 836 shs ($28K)

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to buy)	836	$0.00	--
Exercise	Common Stock, $0.01 par value	836	$10.71	$9K
Sale	Common Stock, $.01 par value	836	$33.50	$28K

Holdings After Transaction: Stock Options (Right to buy) — 7,164 shares (Direct); Common Stock, $0.01 par value — 18,604 shares (Direct); Common Stock, $.01 par value — 17,768 shares (Direct)

Footnotes (1)

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^*

SMITH DAVID ALAN

(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)
07/29/2025

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	07/29/2025		M		836	A	$10.71	18,604	D
Common Stock, $.01 par value	07/29/2025		S		836	D	$33.5	17,768	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)	$10.71	07/29/2025		M			836	09/22/2020	09/22/2025	Common Stock	836	$0	7,164	D

Explanation of Responses:

	/s/Cheryl Parks, Power of Attorney for Davis Alan Smith	07/30/2025
	** 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 insider activity was reported for TSBK on 29 July 2025?

Director David Alan Smith exercised 836 options and sold 836 shares on the same day.

At what prices were the Timberland Bancorp shares exercised and sold?

The options were exercised at $10.71 and the shares were sold at $33.50.

How many TSBK shares does David Alan Smith now own?

After the transaction, he directly owns 17,768 common shares.

How many stock options remain outstanding for the insider?

Smith still holds 7,164 unexercised options with a $10.71 strike expiring 22 Sep 2025.

Does the filing indicate bullish or bearish sentiment from the director?

The matched exercise-and-sale appears neutral, typical for liquidity or tax purposes rather than a directional signal.