WTBA Form 4 shows director stock sales and 53,195 shares owned

Rhea-AI Filing Summary

West Bancorporation Inc. (WTBA) director reports stock sales. A company director filed a Form 4 disclosing open-market sales of common stock on 11/21/2025 and 11/24/2025. The director sold 5,826 shares at $22.00 per share and 10,000 shares at $21.71 per share. After these transactions, the director beneficially owns 53,195 shares of West Bancorporation common stock, held directly.

Insider Trade Summary

Net Seller: 15,826 shares ($345,272)

Net Sell 2 txns

Insider MILLIGAN GEORGE D

Role Director

Sold 15,826 shs ($345K)

Type	Security	Shares	Price	Value
Sale	COMMON STOCK	10,000	$21.71	$217K
Sale	COMMON STOCK	5,826	$22.00	$128K

Holdings After Transaction: COMMON STOCK — 53,195 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).

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^*

MILLIGAN GEORGE D

(Last) (First) (Middle)

2619 CROWN FLAIR DRIVE

(Street)

WEST DES MOINES IA 50265

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WEST BANCORPORATION INC [ WTBA ]

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)
11/21/2025

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	11/21/2025		S		5,826	D	$22	63,195	D
COMMON STOCK	11/24/2025		S		10,000	D	$21.71	53,195	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:

Remarks:

	/s/ Melissa L. Gillespie, By Power of Attorney	11/25/2025
	** 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.

FAQ

What insider transaction did West Bancorporation Inc (WTBA) report?

A West Bancorporation director reported selling common stock in two open-market transactions, as disclosed on Form 4.

How many WTBA shares did the director sell and at what prices?

The director sold 5,826 WTBA common shares at $22.00 and 10,000 shares at $21.71.

When did the WTBA insider stock sales occur?

The reported sales of West Bancorporation common stock occurred on 11/21/2025 and 11/24/2025.

How many WTBA shares does the director own after these trades?

Following the reported transactions, the director beneficially owns 53,195 shares of West Bancorporation common stock.

Is the reporting person a 10% owner of WTBA?

The form identifies the reporting person as a Director of West Bancorporation Inc., with the 10% owner box not checked.

Were any derivative securities reported for the WTBA insider?

No derivative securities were reported; the Form 4 only lists transactions in WTBA common stock.