Form 4: Marathon Bancorp EVP and CAO Nora Spatz Reports Beneficial Ownership Changes

Nora Spatz, EVP and CAO of Marathon Bancorp, reports acquisition of common stock and holdings of derivative securities.

Summary

• Nora Spatz, the EVP and CAO of Marathon Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of 5,000 shares of common stock at $10 per share on April 21, 2025.
• Additionally, 500 shares were acquired through a trust and 600 shares as custodian, both at $10 per share on the same date.
• Spatz also holds 16,139 shares of common stock directly, 1,209 shares through an ESOP, and 1,372 shares through a spouse.
• The report also details holdings of stock options with exercise prices of $8.1294 and $6.4831, vesting at 20% per year commencing on June 28, 2023, and May 16, 2024, respectively.
• The filing reflects a 1.3728 stock exchange in connection with the company's mutual to stock conversion.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating insider trading activity, which can be interpreted as a sign of confidence, but it doesn't provide enough information to strongly skew positive or negative.

Positives

• The acquisition of shares by a company executive can be seen as a positive signal, indicating confidence in the company's future prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's value.

Comparison to Industry Standards

• Comparing the vesting schedules and exercise prices of the stock options to those of executives at peer banks like Associated Banc-Corp (ASB) or First Midwest Bancorp (FMBI) could provide context on whether the compensation is in line with industry norms.
• Analyzing the percentage of shares held by insiders relative to the total outstanding shares, and comparing it to similar institutions, can offer insights into the level of management's alignment with shareholder interests.

Stakeholder Impact

• Shareholders may view the insider's stock acquisition as a positive signal, potentially increasing investor confidence.
• Employees holding company stock or options may be affected by any changes in stock price resulting from the reported transactions.

Key Dates

Keywords

Form 4, beneficial ownership, stock options, common stock, Marathon Bancorp, Spatz, MBBC, EVP, CAO