[Form 4] Waterstone Financial, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael L. Hansen, a director at Waterstone Financial, Inc. (WSBF), reported a sale of common stock on 08/11/2025. The Form 4 discloses a sale (transaction code S) of 2,757 shares at $13.80 per share. Following the reported transaction he is shown as beneficially owning 146,358 shares indirectly through a trust. No derivative securities are reported and the form was executed through an attorney-in-fact.

Positive

• Maintains substantial indirect ownership of 146,358 shares through a trust, as disclosed in the filing

Negative

• Director reported a sale of 2,757 shares (transaction code S), reducing his direct holdings

Insights

Financial Analyst

TL;DR: Routine director sale of 2,757 WSBF shares at $13.80; substantial indirect trust holding remains.

The filing shows a single non-derivative sale by Michael L. Hansen on 08/11/2025 for 2,757 common shares at $13.80 per share. The report lists 146,358 shares held indirectly via a trust after the transaction. No derivative positions are disclosed. Based solely on the filing, this appears to be a standard insider sale without additional material disclosures about compensation, planned dispositions, or amendments.

Corporate Governance Expert

TL;DR: Insider sold a modest block while retaining significant trust ownership; no governance red flags in the filing.

The Form 4 identifies Hansen as a director and records a sale coded 'S' for 2,757 shares. The filing explicitly notes an indirect beneficial ownership of 146,358 shares by trust. Table II (derivatives) is empty. The form was executed via an attorney-in-fact, which is a routine procedural detail. There are no explicit indications of departure, acceleration, or unusual insider arrangements in the disclosed text.

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

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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^*

Hansen Michael L

(Last) (First) (Middle)

11200 WEST PLANK CT.

(Street)

WAUWATOSA WI 53226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Waterstone Financial, Inc. [ WSBF ]

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)
08/11/2025

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	08/11/2025		S		2,757	D	$13.8	146,358	I	By Trust
Common Stock								79,872	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:

	/s/ William F. Bruss, Attorney-in-fact	08/12/2025
	** 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 Michael L. Hansen report on Form 4 for WSBF?

The Form 4 reports a sale of 2,757 common shares on 08/11/2025 at a price of $13.80 per share (transaction code S).

How many Waterstone Financial (WSBF) shares does Hansen beneficially own after the transaction?

The filing shows he beneficially owns 146,358 shares indirectly through a trust following the reported transaction.

Did the Form 4 report any derivative securities for WSBF?

No. Table II for derivative securities is empty in the provided filing text.

What is Michael L. Hansen's relationship to Waterstone Financial (WSBF)?

The form identifies Michael L. Hansen as a Director of Waterstone Financial, Inc.

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

The form was executed through an attorney-in-fact, signed as /s/ William F. Bruss in the provided text.