Form 4: FS Bancorp Director Sells Shares Under 10b5-1 Plan

FS Bancorp Director Marina Cofer-Wildsmith reported sales of common stock totaling 2,531.5147 shares over two days, executed under a Rule 10b5-1 plan.

Summary

• Marina Cofer-Wildsmith, a Director of FS Bancorp, Inc. (FSBW), reported sales of common stock.
• On November 20, 2025, 161 shares of common stock were sold at a price of $40 per share.
• On November 21, 2025, 2,370.5147 shares of common stock were sold at a price of $40 per share.
• The total number of shares sold across both transactions was 2,531.5147.
• These transactions were executed pursuant to a Rule 10b5-1 plan, indicating they were pre-scheduled.
• Following these reported transactions, Marina Cofer-Wildsmith directly beneficially owns 5,590 shares of FS Bancorp, Inc. common stock.

Sentiment

Score: 6

Explanation: The reported sales were executed under a Rule 10b5-1 plan, indicating they were pre-scheduled and not a reaction to recent non-public information. This mitigates the potential negative signal typically associated with insider selling, making the sentiment neutral to slightly positive due to transparency.

Positives

• The reported sales were executed under a Rule 10b5-1 plan, indicating they were pre-scheduled and not a reaction to recent non-public information.

Negatives

• A director selling shares can sometimes be perceived negatively by the market, although mitigated by the 10b5-1 plan.

Future Outlook

N/A

Industry Context

This filing reports a routine insider transaction and does not provide information related to broader industry trends or competitors.

Stakeholder Impact

• Shareholders may note the director's sale, but the pre-planned nature under a 10b5-1 plan suggests it is a routine financial management event rather than a signal of deteriorating company fundamentals.

Key Dates

Recommendation

The reported sales by Director Marina Cofer-Wildsmith were executed under a pre-arranged Rule 10b5-1 plan, which suggests the transactions were scheduled in advance and not based on recent material non-public information. While insider selling is noted, the pre-planned nature and the remaining direct beneficial ownership of 5,590 shares indicate this is a routine financial management event rather than a signal of deteriorating company fundamentals. Therefore, this filing alone does not warrant a change in investment recommendation.

Keywords

FS Bancorp, FSBW, Form 4, insider trading, stock sale, director, beneficial ownership, 10b5-1 plan