Form 4: WAFD INC Executive James Endrizzi Reports Changes in Beneficial Ownership

EVP & Chief Commercial Banker James Endrizzi reports changes in beneficial ownership of WAFD INC stock, including the disposal of shares to cover tax obligations.

Summary

• James Endrizzi, EVP & Chief Commercial Banker of WAFD INC, filed a Form 4 detailing changes in beneficial ownership of the company's stock on October 31, 2024.
• The transactions include the disposal of 8,617 shares of common stock at a price of $33.98 per share.
• These shares were disposed of to cover tax obligations.
• Endrizzi directly owns 116,728 shares of common stock following the reported transactions.
• Endrizzi also indirectly owns 222 shares of common stock through a 401(k).
• Endrizzi directly owns 748 Depositary Shares of Series A Preferred Stock.
• Endrizzi also owns a non-qualified stock option (right to buy) 695 shares of common stock at an exercise price of $28.16, which was granted on October 31, 2018, and expires on October 28, 2028.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

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 stock.

Comparison to Industry Standards

• Executive stock ownership and trading activity are common metrics used to assess alignment between management and shareholder interests.
• Comparing Endrizzi's holdings and trading activity to those of executives at peer banks like KeyCorp or Regions Financial could provide context on the magnitude of his ownership and the significance of these transactions.
• The use of Supplemental Executive Retirement Plans (SERP) is a fairly common practice among publicly traded companies to attract and retain top talent.

Stakeholder Impact

• The disposal of shares by an executive could be perceived negatively by some shareholders if they interpret it as a lack of confidence in the company's future prospects, although in this case it is to cover tax obligations.
• Transparency in executive stock transactions helps maintain investor confidence.

Key Dates