TIMBERLAND BANCORP (TSBK) CEO Dean J. Brydon Exercises Options, Sells Shares

What Happened

• Dean J. Brydon, CEO and director of Timberland Bancorp (TSBK), exercised derivative awards on August 3, 2026 and completed an open‑market sale the same day.
• The filing shows exercises/conversions totaling 6,000 underlying shares: 2,000 shares exercised at $15.67 (cost $31,340), 1,000 at $29.69 (cost $29,690), plus two entries of 2,000 and 1,000 shares reported as disposed at $0.00. On the same date he sold 3,000 shares in the open market at $45.24 for proceeds of $135,720.
• Taken together, the exercises involved $61,030 in exercise cost for the 3,000 shares reported as acquired, with sale proceeds of $135,720; the filing reports 3,000 additional shares disposed at $0.00 (commonly used to reflect shares withheld or surrendered to cover taxes or exercise costs).

Key Details

• Transaction date: August 3, 2026 (Form 4 filed Aug 4, 2026).
• Prices and amounts:
  • Acquired by exercise: 2,000 @ $15.67 = $31,340; 1,000 @ $29.69 = $29,690 (total acquired shown = 3,000).
  • Sold (open market): 3,000 @ $45.24 = $135,720.
  • Disposed at $0.00 (exercise/settlement): 2,000 and 1,000 shares (total 3,000) reported as disposed.
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnote: F1 indicates shares are held in the Timberland Bank Employee Stock Ownership and 401(k) Plan ("KSOP").
• Filing timeliness: Form filed Aug 4, 2026 for transactions on Aug 3, 2026 (appears timely).

Context

• This sequence—exercise of derivatives with some shares reported as acquired and others reported at $0.00, plus same‑day open‑market sales—often reflects an option exercise with a portion of shares withheld or surrendered to cover taxes/exercise costs and the remainder sold in the market (a cashless or net exercise pattern). The $0.00 disposals are typically administrative (withholding) rather than market sales.
• These are insider exercise/sale transactions; purchases (which can signal a direct bullish bet) are more informative than routine exercises followed by sales. This filing is factual reporting of the transactions and does not by itself indicate the CEO’s market outlook.