FS Bancorp (FSBW) EVP Kelli Nielsen Receives Restricted Stock Award

What Happened
Kelli Nielsen, Executive Vice President and Chief Retail Banking Officer of FS Bancorp (FSBW), was awarded 3,046 restricted shares on August 14, 2026 (transaction code A). To cover tax withholding obligations (transaction code F), 785 of those shares were surrendered/treated as disposed at $43.48 per share, generating a withholding value of $34,132. The award was reported on a Form 4 filed August 18, 2026.

Key Details

• Transaction date: August 14, 2026. Form 4 filed August 18, 2026 (timely).
• Award: 3,046 restricted shares (reported acquisition value $0 as typical for equity awards).
• Tax withholding: 785 shares disposed at $43.48 each, total $34,132. (code F = tax/payment withholding)
• Vesting: Awarded under the FS Bancorp, Inc. 2026 Equity Incentive Plan; vests 25% per year beginning August 15, 2027 (see footnote).
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context: This was an equity award (compensation) rather than a market purchase. The 785-share disposal was a routine tax-withholding action, not an open-market sale of additional shares. Awards that vest over time are common executive compensation and do not, by themselves, indicate a buy or sell decision.