Form 4: Martin S. Friedman of FJ Capital Management Reduces Stake in Riverview Bancorp Inc (RVSB)

Martin S. Friedman, managing member of FJ Capital Management, reports the sale of 50,500 Riverview Bancorp shares held by Bridge Equities XI, LLC, while indirectly holding a significant number of shares through other entities.

Summary

• On February 11, 2025, FJ Capital Management LLC sold 50,500 shares of Riverview Bancorp Inc (RVSB) common stock at a price of $5.49 per share.
• The shares were held by Bridge Equities XI, LLC (BEXI).
• Martin S. Friedman, the reporting person, is the managing member of FJ Capital Management, which acts as a sub-investment adviser to BEXI and the investment adviser to Financial Opportunity Fund LLC (FOF).
• FOF holds 1,936,721 shares of RVSB common stock, and BEXI holds 186,348 shares.
• Friedman disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard disclosure of a share sale. The disclaimer of beneficial ownership adds a slight element of uncertainty.

Negatives

• The sale of 50,500 shares may be perceived negatively by some investors.

Risks

• The transaction could signal a change in investment strategy by FJ Capital Management.
• The disclaimer of beneficial ownership could create uncertainty regarding Friedman's long-term commitment to RVSB.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities referred to in this Form 4 except to the extent of the Reporting Person's pecuniary interest in such securities, and the filing of this Form 4 shall not be construed as an admission that the Reporting Person is, for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Form 4.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock; this filing indicates a change in ownership by a major shareholder.

Comparison to Industry Standards

• Form 4 filings are a standard part of regulatory compliance for publicly traded companies and their insiders.
• The level of detail provided in this Form 4 is consistent with SEC requirements.

Stakeholder Impact

• Shareholders may react to the news of the share sale, potentially impacting the stock price.

Key Dates

Keywords

Riverview Bancorp, RVSB, FJ Capital Management, Martin S. Friedman, Share Sale, Beneficial Ownership, Form 4, Bridge Equities XI, Financial Opportunity Fund