Timberland Bancorp (TSBK) Director Parul Bhandari Receives Restricted Stock Award

What Happened Parul Bhandari, a director of Timberland Bancorp (TSBK), had 44 shares surrendered/withheld to cover tax liabilities (reported as a disposition) and was granted 735 restricted shares. The 44-share withholding was recorded at $45.41 per share for a value of $1,998. The 735-share grant was reported at $0.00 (restricted stock award).

Key Details

• Transactions:
  • 2026-09-28: 44 shares withheld to cover tax liability (withheld at $45.41 each; total ~$1,998). (Code F — tax withholding)
  • 2026-09-29: 735 restricted shares granted (reported at $0.00). (Code A — award/acquisition)
• Footnotes:
  • F1: The 44 shares withheld relate to 200 restricted shares that vested on Sept 26, 2026; 44 were withheld per the reporting person’s election to satisfy state and federal tax obligations.
  • F2: The 735-share Restricted Stock Award was granted on 9/29/2026 and vests equally over 3 years.
• Shares owned after the transactions: not specified in the provided summary of the filing; see the full Form 4 for current holdings.
• Filing timeliness: Form was filed on 2026-09-30 for transactions on 9/28 and 9/29 — appears to be filed timely under Form 4 rules.

Context

• The 44-share disposition is a routine tax-withholding event tied to a prior vesting and does not indicate an open-market sale.
• The 735-share award is an acquisition (not a purchase) and will vest over three years, so those shares are subject to forfeiture/vesting schedule and are not an immediate free-and-clear saleable position.
• For retail investors, awards/vesting provide insight into compensation alignment but are not direct endorsements to buy or sell stock.