Form 4: FS Bancorp Chairman Boosts Stake via Stock Plan

Ted A. Leech, Chairman of FS Bancorp, Inc., acquired 230 shares of common stock at $38.01 per share through a company stock purchase plan.

Summary

• Ted A. Leech, a Director and Chairman of the Board of FS Bancorp, Inc. (FSBW), acquired 230 shares of common stock.
• The transaction occurred on November 6, 2025, at a price of $38.01 per share.
• The shares were purchased under the Issuer's Nonqualified 2022 Stock Purchase Plan and included a 25% company match.
• Following this transaction, Mr. Leech directly owns 890 shares of common stock in one holding and 47,649 shares in another direct holding, totaling 48,539 direct shares.
• Additionally, Mr. Leech indirectly owns 2,000 shares through a Self-Managed Trust and 28,700 shares via a Stock Award, bringing his total beneficial ownership to 79,239 shares.

Sentiment

Score: 7

Explanation: The acquisition of shares by a key insider, especially the Chairman, can be seen as a positive signal of confidence in the company's future prospects. The purchase through a stock plan with a company match further reinforces this positive sentiment, indicating alignment of interests. Furthermore, Mr. Leech's substantial total beneficial ownership of 79,239 shares underscores his significant vested interest in the company's success.

Positives

• Chairman of the Board, Ted A. Leech, increased his direct ownership in the company by acquiring 230 shares, demonstrating continued confidence.
• The acquisition was made through a company stock purchase plan, indicating participation in employee benefit programs and alignment with company performance.
• The purchase included a 25% company match, which is a benefit to the insider and further aligns interests.
• Mr. Leech maintains a substantial beneficial ownership in the company, totaling 79,239 shares across direct and indirect holdings, reinforcing his vested interest.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• These shares were purchased under the Issuer's Nonqualified 2022 Stock Purchase Plan and includes a 25% match.

Industry Context

This Form 4 filing reports an insider stock purchase, which is a routine disclosure for publicly traded companies. It reflects an individual executive's investment decision rather than a broader industry trend or competitive action.

Comparison to Industry Standards

• This filing is a standard insider transaction disclosure and does not provide information for comparison to industry-specific financial or operational benchmarks. It reflects an individual's investment in the company rather than a performance metric.

Stakeholder Impact

• Shareholders: May view the Chairman's purchase as a sign of confidence, potentially positively influencing investor sentiment.
• Employees: The existence of a Nonqualified Stock Purchase Plan with a company match indicates a benefit program for employees, aligning their interests with company performance.

Key Dates

Recommendation

The acquisition of shares by the Chairman of the Board, Ted A. Leech, signals management's confidence in FS Bancorp's future. This insider buying, particularly through a company stock purchase plan with a match, aligns management's interests with shareholders. However, a single insider transaction, while positive, typically warrants a 'hold' recommendation rather than a 'buy' without further comprehensive financial analysis of the company's fundamentals, market conditions, and strategic outlook.

Keywords

FS Bancorp, FSBW, Ted A. Leech, Insider Trading, Stock Purchase Plan, Common Stock, Beneficial Ownership, Director, Chairman, SEC Form 4