West Bancorporation (WTBA) CEO granted 17,000 restricted stock units

Rhea-AI Filing Summary

West Bancorporation Inc. CEO and President David D. Nelson reported an equity award in the form of 17,000 shares of common stock granted as restricted stock units. Of these, 8,500 units vest in five equal annual installments beginning on March 25, 2027, and the remaining 8,500 units cliff vest on March 25, 2029 if performance criteria set by the Compensation Committee are achieved.

After this award, Nelson directly holds 124,966 shares of common stock. He also has indirect ownership of 107,457 shares through the Katherine A. Nelson Revocable Trust and 31,695 shares through a 401(k) plan, which includes 1,169 shares acquired via dividend reinvestment between April 1, 2025 and December 31, 2025. In addition, 325 previously reported performance stock units did not vest because the related performance conditions were not satisfied.

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^*

NELSON DAVID D

(Last) (First) (Middle)

8050 HEATHER BOW

(Street)

JOHNSTON IA 50131

(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
X	Officer (give title below)		Other (specify below)
	CEO & PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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	02/23/2026		A		17,000(1)	A	$0	124,966(2)	D
COMMON STOCK								107,457	I	By Katherine A. Nelson Rev Trust
COMMON STOCK								31,695(3)	I	By 401(k) Plan

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:

1. Shares were acquired pursuant to a grant of restricted stock units, 8,500 units of which, vest in five equal annual installments beginning March 25, 2027. The remaining 8,500 units cliff vest on March 25, 2029, subject to achievement of performance criteria established by the Compensation Committee as set out in the grant.

2. 325 shares of previously reported performance stock units did not vest because the applicable performance conditions were not satisfied.

3. 1,169 shares were acquired pursuant to dividend reinvestment purchases in the employee savings plan 401(k) during the period from April 1, 2025 through December 31, 2025.

Remarks:

	/s/ Melissa L. Gillespie, By Power of Attorney	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did WTBA CEO David D. Nelson report in this Form 4 filing?

David D. Nelson reported receiving 17,000 restricted stock units of West Bancorporation common stock. The award includes both time-based and performance-based vesting schedules, increasing his direct holdings to 124,966 shares, with additional indirect holdings through a trust and a 401(k) plan.

How do the 17,000 restricted stock units for WTBA’s CEO vest over time?

The 17,000 restricted stock units vest in two parts. 8,500 units vest in five equal annual installments starting March 25, 2027. The other 8,500 units cliff vest on March 25, 2029, only if Compensation Committee performance criteria outlined in the grant are achieved.

What indirect WTBA shareholdings are associated with David D. Nelson?

David D. Nelson has indirect ownership of 107,457 West Bancorporation shares through the Katherine A. Nelson Revocable Trust and 31,695 shares through a 401(k) plan. The 401(k) position includes 1,169 shares acquired via dividend reinvestment purchases during April 1, 2025 to December 31, 2025.

Were any previously reported WTBA performance stock units forfeited in this update?

Yes. The filing notes that 325 previously reported performance stock units did not vest. The reason given is that the applicable performance conditions tied to those units were not satisfied, so those shares were not earned under the original award terms.

How many WTBA shares does CEO David D. Nelson own after this reported award?

After the award, David D. Nelson directly owns 124,966 West Bancorporation common shares. In addition, he indirectly holds 107,457 shares via the Katherine A. Nelson Revocable Trust and 31,695 shares in a 401(k) plan, according to the reported ownership figures.

What period is covered by the WTBA 401(k) dividend reinvestment purchases?

The filing states that 1,169 shares were acquired in the 401(k) plan through dividend reinvestment purchases. This activity occurred during the period from April 1, 2025 through December 31, 2025, and contributed to the 31,695 indirectly held shares in the plan.