BASICH MARCI A 4

What Happened Marci A. Basich, CFO of Timberland Bancorp (TSBK), exercised 477 stock options on Feb 5, 2026 and then sold those 477 shares the same day. The exercise price was $28.23 per share (cost ≈ $13,466) and the open‑market sale price was $39.50 per share (gross proceeds ≈ $18,842). The net from the immediate sale exceeded the exercise cost.

Key Details

• Transaction date: February 5, 2026; Form filed February 6, 2026.
• Exercise (code M): 477 shares acquired at $28.23 each — total cost ≈ $13,466.
• Sale (code S): 477 shares sold at $39.50 each — gross proceeds ≈ $18,842.
• A related derivative entry shows 477 shares disposed at $0.00 (this reflects the option conversion/exercise reporting).
• Shares owned after the transaction: not specified in this filing.
• Footnotes: F1 indicates holdings in the Timberland Bank Employee Stock Ownership and 401(k) Plan (KSOP). F2 notes the date options will be fully vested.
• Filing timeliness: filed the day after the transactions (Feb 6 for Feb 5 activity).

Context

• This was an exercise followed by an immediate sale (a cashless or same‑day sale), a common way insiders realize value from vested options; it is neutral to mildly informative (shows realization of gains rather than a fresh purchase).
• Transaction codes: M = option exercise/conversion; S = open‑market sale. The $0.00 derivative line reflects conversion/transfer aspects of the exercise rather than separate sale proceeds.