Timberland Bancorp (TSBK) Director Parul Bhandari Withholds Shares for Taxes

What Happened

• Parul Bhandari, a director of Timberland Bancorp (TSBK), had shares withheld to satisfy tax withholding related to restricted stock vesting. The filing reports 51 shares withheld on 2025-09-23 at $44.82 ($2,286) and 58 shares withheld on 2026-09-24 at $45.10 ($2,616). These were tax-withholding dispositions (transaction code F), not open-market sales.

Key Details

• Transaction dates and prices:
  • 2025-09-23: 51 shares @ $44.82 = $2,286 (withheld for taxes)
  • 2026-09-24: 58 shares @ $45.10 = $2,616 (withheld for taxes)
• Total value of shares withheld: approximately $4,902.
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes: F1/F2 state these withholdings were made when restricted stock vested (233 shares vested on Sept 23, 2026 with 51 withheld; 215 vested on Sept 24, 2026 with 58 withheld) and the issuer paid the value to state and federal tax authorities on the reporting person’s behalf.
• Filing timeliness: Form was filed 2026-09-25. The 2026-09-24 withholding was reported promptly; the 2025-09-23 withholding (if date is correct) appears to have been reported late (filed ~1 year later). A late filing is a disclosure/timeliness issue but does not by itself indicate trading intent.

Context

• These transactions are routine tax-withholding events tied to restricted stock vesting (code F). They are not market sales that reflect a decision to cash out by the insider, so they generally carry less informational weight about insider sentiment than open-market purchases or deliberate sales.