[Form 4] Timberland Bancorp Inc Insider Trading Activity

Rhea-AI Filing Summary

Breanne D. Antich, Chief Technology Officer/EVP of Timberland Bancorp Inc (TSBK), reported multiple option exercises and open-market trades on 08/18/2025. She acquired shares via exercise of stock options at exercise prices ranging from $27.14 to $31.80, resulting in five option exercises totaling 7,000 underlying shares added to direct ownership. Separately, there was a sale of 7,000 common shares at $32.55, leaving 2,348 shares held directly and 4,174 shares held indirectly via the KSOP. The transactions changed her direct beneficial ownership to 9,348 common shares including exercised options and purchases, with unexercised option holdings noted following each exercise.

Positive

• Transparent reporting of option exercises, a sale, and KSOP indirect holdings provides clear disclosure to investors
• Use of KSOP indicates participation in the employee stock ownership and retirement plan

Negative

• Insider sale of 7,000 shares may be viewed as liquidity-taking by an executive
• Complex mix of exercises and sale on same date could complicate interpretation of insider intent

Insights

Securities Analyst

TL;DR: Insider exercised multiple options and sold shares, net position remains concentrated and includes KSOP holdings.

Antich executed five option exercises on 08/18/2025, acquiring 7,000 shares via exercises at strike prices between $27.14 and $31.80, and sold 7,000 shares at $32.55. Post-transactions, direct ownership is 9,348 shares and indirect KSOP ownership is 4,174 shares. The exercises reflect utilization of vested option tranches with varying exercise dates and expirations; the sale offset immediate liquidity needs or portfolio rebalancing. For investors, these are routine Section 16 transactions showing insider liquidity activity rather than a clear signal of company performance.

Corporate Governance Expert

TL;DR: Transactions comply with typical insider reporting; KSOP disclosure clarifies indirect holdings.

The filing documents both direct and indirect beneficial ownership and identifies the KSOP as the source of indirect holdings. Multiple option exercises and an offsetting sale were reported on the same date, and option grant terms (exercise prices and expirations) are disclosed. The signature by a power of attorney is noted, indicating delegated filing responsibility. These disclosures align with Section 16 reporting requirements and provide transparency on share movements by an executive officer.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Antich Breanne 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer/EVP

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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 per share(1)	08/18/2025		M		2,000	A	$29.69	4,348	D
Common Stock, $.01 par value per share(1)	08/18/2025		M		1,600	A	$31.8	5,948	D
Common Stock, $.01 par value per share(1)	08/18/2025		M		1,400	A	$27.14	7,348	D
Common Stock, $.01 par value per share(1)	08/18/2025		M		1,200	A	$28.23	8,548	D
Common Stock, $.01 par value per share(1)	08/18/2025		M		800	A	$27.4	9,348	D
Common Stock, $.01 par value per share(1)	08/18/2025		S		7,000	D	$32.55	2,348	D
Common Stock, $.01 par value per share								4,174	I	By KSOP(1)

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	08/18/2025		M			2,000	09/23/2022	09/23/2027	Common Stock	2,000	$0	8,700	D
Stock Options (Right to buy)	$31.8	08/18/2025		M			1,600	09/25/2023	09/25/2028	Common Stock	1,600	$0	7,100	D
Stock Options (Right to Buy)	$27.14	08/18/2025		M			1,400	09/24/2024	09/24/2029	Common Stock	1,400	$0	5,700	D
Stock Options (Right to Buy)	$28.23	08/18/2025		M			1,200	09/28/2026	09/28/2031	Common Stock	1,200	$0	4,500	D
Stock Options (Right to Buy)	$27.4	08/18/2025		M			800	09/27/2027	09/27/2032	Common Stock	800	$0	3,700	D

Explanation of Responses:

1. Represents shares held in the Timberland Bank Employee Stock Ownership and 401(k) Plan ("KSOP")

	/s/Cheryl Parks, Power of Attorney for Breanne D. Antich	08/19/2025
	** 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 transactions did Breanne D. Antich report for TSBK on 08/18/2025?

She reported five option exercises totaling 7,000 shares acquired at strikes between $27.14 and $31.80, and a sale of 7,000 shares at $32.55.

How many TSBK shares does Antich beneficially own after these transactions?

Following the reported transactions she holds 9,348 shares directly and 4,174 shares indirectly via the KSOP.

What is the KSOP referenced in the filing?

The KSOP is the Timberland Bank Employee Stock Ownership and 401(k) Plan, which accounts for 4,174 indirectly held shares disclosed in the form.

Were the option exercises associated with specific grant terms?

Yes; exercises list exercise prices and show exercise/expiration schedule for each option tranche underlying the 7,000 shares acquired.

Who signed the Form 4 on behalf of the reporting person?

The form was signed by Cheryl Parks, Power of Attorney for Breanne D. Antich indicating delegated filing authority.