Form 4: Marathon Bancorp CEO Buys 1,075 Shares

Marathon Bancorp's President and CEO, Nicholas W. Zillges, acquired 1,075 shares of common stock at $11.37 per share.

Summary

• Nicholas W. Zillges, President and CEO, and a Director of Marathon Bancorp, Inc. (MBBC), purchased 1,075 shares of common stock.
• The transaction occurred on November 26, 2025, at a price of $11.37 per share.
• Following this transaction, Mr. Zillges directly owns 34,803 shares of common stock, which includes restricted stock vesting at 20% per year starting June 28, 2023.
• Indirect holdings include 47,780 shares in a 401(k), 604 shares in an IRA, and 2,723 shares in an ESOP.
• Mr. Zillges also holds 29,994 stock options with an exercise price of $8.1294, vesting 20% annually from June 28, 2023, and expiring June 28, 2032.
• Additionally, he holds 7,498 stock options with an exercise price of $6.4831, vesting 20% annually from May 16, 2024, and expiring May 16, 2033.

Sentiment

Score: 8

Explanation: The insider purchase by the CEO and Director signals strong confidence in the company's valuation and future prospects, which is a significant positive indicator for investors.

Positives

• Insider buying by the President and CEO, Nicholas W. Zillges, indicates confidence in the company's future prospects.
• The purchase of 1,075 shares at $11.37 per share increases direct beneficial ownership.

Future Outlook

The filing primarily details an insider transaction and does not provide explicit forward-looking statements or guidance beyond the vesting and expiration schedules of existing equity awards.

Industry Context

This insider purchase by the CEO of Marathon Bancorp, a financial institution, suggests internal confidence in the banking sector, particularly for regional banks. Such transactions can be viewed positively by investors, especially in an environment where financial stability and growth prospects are closely scrutinized.

Comparison to Industry Standards

• Insider buying, particularly by a CEO, is generally seen as a positive signal across all industries, including the financial sector. While specific comparable companies or projects are not detailed in this Form 4, a CEO's decision to invest personal capital at current market prices often outperforms general market sentiment, similar to how executives at other regional banks like Bank of Marin Bancorp or Pacific Premier Bancorp might signal confidence through personal stock acquisitions.

Related Party Transactions

• The reported transaction is an insider purchase of common stock by the President and CEO, Nicholas W. Zillges, which is a related party transaction by definition.

Stakeholder Impact

• Shareholders: The insider purchase may instill greater confidence among existing and potential shareholders, potentially leading to positive sentiment and increased demand for the stock.
• Employees: A CEO's investment in the company's stock can signal stability and belief in the company's future, which may positively impact employee morale.

Next Steps

• Continued vesting of restricted stock at 20% per year commencing June 28, 2023.
• Continued vesting of 29,994 stock options at 20% per year commencing June 28, 2023.
• Continued vesting of 7,498 stock options at 20% per year commencing May 16, 2024.

Key Dates

Recommendation

The direct purchase of common stock by the President and CEO, Nicholas W. Zillges, at market price is a strong indicator of insider confidence in Marathon Bancorp's future performance and valuation. This action suggests that management believes the stock is undervalued or poised for growth, making it a compelling 'buy' signal for investors.

Keywords

Marathon Bancorp, MBBC, Insider Trading, Form 4, Stock Purchase, CEO, Director, Nicholas W. Zillges, Equity Acquisition