Form 4: FSFG EVP & CLO Howard Reports Stock Option Exercise & Sale

Sentiment:

Insider Transaction Report 31 December 2025 10:43 AM

📋All filings for First Savings Financial Group, INC

First Savings Financial Group EVP and CLO William Eric Howard reported the exercise of stock options and subsequent sale of shares for tax withholding.

Summary

William Eric Howard, EVP and CLO of a subsidiary of First Savings Financial Group, Inc. (FSFG), reported transactions on December 11, 2025.
Howard acquired 13,500 shares of Common Stock by exercising stock options at an exercise price of $13.36 per share.
Concurrently, Howard disposed of 5,320 shares of Common Stock at a price of $33.08 per share to cover tax withholding obligations related to the option exercise.
Following these transactions, Howard directly beneficially owns 20,551 shares of Common Stock.
Additionally, Howard indirectly beneficially owns 3,611 shares of Common Stock through a 401(k) plan.
Howard holds various unexercised stock options with different vesting schedules and expiration dates, including 7,500 options vesting from November 21, 2022, 3,750 options vesting from November 21, 2023, 4,260 options vesting from November 21, 2024, and 960 options vesting from November 21, 2025.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (option exercise and tax-related sale) which are common for executive compensation and do not inherently indicate a positive or negative outlook for the company. The transactions are pre-planned under a Rule 10b5-1 plan.

Positives

The executive exercised 13,500 stock options, converting them into common stock, which increases direct equity ownership in the company before tax-related sales.
The exercise price of $13.36 is significantly lower than the disposition price of $33.08, indicating a substantial in-the-money value for the options.

Negatives

The disposition of 5,320 shares of common stock, even for tax withholding, reduces the executive's direct beneficial ownership of the company's equity.

Future Outlook

Industry Context

Stakeholder Impact

Shareholders: The transaction represents a routine compensation event for an executive, with minimal direct impact on the company's overall share structure or valuation. The sale for tax purposes is a common practice and does not necessarily signal a change in management's outlook.
Employees: The filing provides transparency into executive compensation practices, specifically related to stock options and restricted stock, which are common components of incentive plans.

Next Steps

Continued vesting of restricted stock at a rate of 20% per year commencing on November 21, 2022, November 21, 2023, November 21, 2024, November 21, 2025, April 14, 2026, and November 21, 2026.
Continued vesting of stock options at a rate of 20% per year commencing on November 21, 2022, November 21, 2023, November 21, 2024, and November 21, 2025.

Key Dates

Date	Description
11/21/2017	Date exercisable for 13,500 fully vested stock options.
11/21/2022	Commencement of 20% annual vesting for some restricted stock and 7,500 stock options.
11/21/2023	Commencement of 20% annual vesting for some restricted stock and 3,750 stock options.
11/21/2024	Commencement of 20% annual vesting for some restricted stock and 4,260 stock options.
12/11/2025	Transaction date for the exercise of 13,500 stock options and disposition of 5,320 shares of common stock.
11/21/2025	Commencement of 20% annual vesting for some restricted stock and 960 stock options.
04/14/2026	Commencement of 20% annual vesting for some restricted stock.
11/21/2026	Expiration date for 13,500 fully vested stock options; Commencement of 20% annual vesting for some restricted stock.
11/21/2031	Expiration date for 7,500 stock options.
11/21/2032	Expiration date for 3,750 stock options.
11/21/2033	Expiration date for 4,260 stock options.
11/21/2034	Expiration date for 960 stock options.
12/30/2025	Signature date of the reporting person's power of attorney.

Recommendation

hold

This Form 4 details routine insider transactions involving the exercise of stock options and subsequent sale of shares to cover tax obligations. While it provides insight into executive compensation and ownership, it does not contain information significant enough to alter a fundamental investment thesis or warrant a strong buy or sell recommendation based solely on this filing.

Keywords

FSFG, First Savings Financial Group, insider trading, Form 4, stock options, executive compensation, beneficial ownership

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