Form 4: Marathon Bancorp SVP & CCO Reports Routine Share Disposition for Tax Purposes

Marathon Bancorp, Inc.'s Senior Vice President and Chief Compliance Officer, Terry Cornish, reported a future disposition of 225 common shares on June 28, 2025, related to tax liability, as detailed in a recent SEC Form 4 filing.

Summary

• Terry Cornish, SVP and CCO of Marathon Bancorp, Inc. (MBBC), reported a transaction on June 28, 2025.
• The transaction involved the disposition of 225 shares of common stock at a price of $9.99 per share.
• This disposition was coded as "F," indicating it was for the payment of tax liability incident to the vesting of a security.
• Following this transaction, Terry Cornish directly holds 3,044 shares of common stock, which includes restricted stock vesting at 20% per year commencing June 28, 2023, and May 16, 2024.
• Indirect holdings include 25,816 shares through a 401(k) plan and 1,478 shares through an ESOP.
• Terry Cornish also holds 4,498 stock options with an exercise price of $8.1294, vesting 20% annually from June 28, 2023, and expiring on June 28, 2032.
• An additional 4,804 stock options are held with an exercise price of $6.4831, vesting 20% annually from May 16, 2024, and expiring on May 16, 2033.

Sentiment

Score: 6

Explanation: The transaction is a routine disposition for tax purposes, which is a neutral event. The continued significant holdings of common stock, restricted stock, and stock options by the SVP and CCO indicate ongoing alignment with shareholder interests.

Positives

• The disposition of shares is for tax liability, not an open market sale, which is a common and neutral event for executives receiving equity compensation.
• Significant indirect holdings through 401(k) and ESOP indicate continued long-term investment in the company.
• Substantial unexercised stock options and restricted stock holdings align management's interests with long-term shareholder value.

Negatives

• A disposition of shares, even for tax purposes, reduces direct ownership.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common across all publicly traded companies, particularly for executives receiving equity compensation. It reflects standard practices for managing vested equity and associated tax obligations, rather than a strategic industry move.

Comparison to Industry Standards

• The reported transaction, a disposition of shares for tax purposes (F code), is a standard practice for executives in publicly traded companies across various industries when equity awards vest.
• This is a common method for insiders to cover tax liabilities arising from restricted stock vesting or option exercises, aligning with typical compensation structures in the financial services sector and beyond.
• No specific comparable companies or projects are mentioned or implied by this type of filing.

Stakeholder Impact

• Minimal direct impact on shareholders as the transaction is a routine disposition for tax purposes, not a discretionary sale.
• No direct impact on employees, customers, suppliers, or creditors as this is an insider equity transaction.

Key Dates

Keywords

Marathon Bancorp, MBBC, SEC Form 4, Insider Trading, Stock Options, Restricted Stock, Equity Compensation, Terry Cornish, SVP, CCO, Share Disposition, Tax Liability