4/A: Marathon Bancorp CEO Amends Stock Ownership Filing, Details Executive Holdings and Vesting Schedules

Marathon Bancorp, Inc.'s President and CEO, Nicholas W. Zillges, filed an amended Form 4 detailing a disposition of shares for tax purposes and clarifying his direct and indirect beneficial ownership, including vesting schedules for restricted stock and stock options.

Summary

• Nicholas W. Zillges, President and CEO of Marathon Bancorp, Inc. (MBBC), filed an amended Form 4 (4/A) on July 2, 2025, correcting an original filing from July 1, 2025.
• The filing reports the disposition of 1,169 shares of common stock on June 28, 2025, at a price of $9.99 per share. This transaction was coded 'F', indicating it was for the payment of tax liability by withholding securities.
• Following this transaction, Mr. Zillges directly beneficially owns 32,403 shares of common stock, which includes shares of restricted stock that vest at a rate of 20% per year commencing on June 28, 2023.
• Indirect beneficial ownership includes 47,780 shares held via a 401(k) plan, 604 shares via an IRA, and 2,723 shares via an Employee Stock Ownership Plan (ESOP).
• He also holds 29,994 stock options with an exercise price of $8.1294, which vest at a rate of 20% per year commencing on June 28, 2023, and expire on June 28, 2032.
• Additionally, Mr. Zillges holds 7,498 stock options with an exercise price of $6.4831, which vest at a rate of 20% per year commencing on May 16, 2024, and expire on May 16, 2033.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction filing (Form 4/A) detailing changes in beneficial ownership and compensation-related stock movements. It does not inherently convey positive or negative sentiment about the company's performance or outlook, but rather provides transparency on executive holdings.

Positives

• The filing provides transparency regarding the executive's significant direct and indirect ownership, which generally aligns management's interests with those of shareholders.
• The presence of stock options and restricted stock indicates long-term incentive plans for the CEO, designed to promote retention and performance alignment over several years.

Negatives

• A disposition of shares, even for tax purposes, results in a reduction of the executive's direct beneficial ownership.

Future Outlook

This document does not contain forward-looking statements or guidance on the company's future performance, as it is an insider transaction report.

Industry Context

This Form 4/A is a routine insider transaction disclosure for a financial institution. It does not provide broader industry trends or competitive analysis. Such filings are common across all publicly traded companies and reflect individual executive compensation and tax planning.

Comparison to Industry Standards

• This document is a standard insider transaction report (Form 4/A) and does not contain information that allows for a direct comparison of financial results or operational performance to industry benchmarks or specific comparable companies/projects. The details relate to an individual's stock holdings and compensation structure, which are typical for executives in publicly traded companies, including those in the banking sector.

Related Party Transactions

• Disposition of 1,169 shares of common stock by President and CEO Nicholas W. Zillges for tax liability, which is a transaction between the company and a related party (executive).

Stakeholder Impact

• Shareholders: Provides transparency on executive stock ownership and compensation structure, which can influence investor confidence.
• Employees: The ESOP and 401(k) holdings indicate employee stock ownership plans are in place, which can impact employee engagement and retention.

Key Dates

Keywords

Marathon Bancorp, MBBC, SEC Form 4/A, Insider Transaction, Stock Ownership, Executive Compensation, Nicholas W. Zillges, Restricted Stock, Stock Options, Beneficial Ownership