FS Bancorp (FSBW) Director Joseph C. Adams Receives Award, Sells Shares

What Happened
Director Joseph C. Adams received an award of 1,200 restricted shares of FS Bancorp (reported as an acquisition at $0.00) and, in connection with equity compensation, had 2,699 shares disposed (sold) as a tax-withholding payment at $43.48 per share for proceeds of $117,353. The award is reported under the company’s 2026 Equity Incentive Plan.

Key Details

• Transaction date: August 14, 2026; Form 4 filed August 18, 2026 (filing appears timely).
• Award (Code A): 1,200 restricted shares acquired at $0.00.
• Tax withholding (Code F): 2,699 shares disposed at $43.48, total $117,353, to cover tax liabilities.
• Vesting: The restricted stock award vests on August 15, 2027 (per footnote).
• Shares owned after the transactions: not specified in the filing.

Context

• The award is restricted stock (not an open-market purchase) and will not be freely tradable until it vests next year.
• The 2,699-share disposal was for tax withholding (routine when restricted equity is issued) and should not be read as a discretionary investment sell decision by the director.