Stilwell Value LLC 4

What Happened
Joseph Stilwell (as managing member of Stilwell Value LLC) and affiliated entities — Stilwell Value LLC, Stilwell Value Partners VII, L.P., Stilwell Activist Fund, L.P., and Stilwell Activist Investments, L.P. — each acquired 1,840 shares of Peoples Financial Corp. (PFBX) on 2026-01-23 at $20.50 per share (Form 4 code P, purchase). Each purchase was $37,720; the five reported purchases total 9,200 shares and $188,600. This filing was made as a Section 13(d) group report; the group reports beneficial ownership of more than 10% of the issuer.

Key Details

• Transaction date and price: 2026-01-23, purchases at $20.50 per share (code P = purchase).
• Per-entity amounts: 1,840 shares × $20.50 = $37,720 (reported for each of the five reporting persons). Combined: 9,200 shares = $188,600.
• Filing: Form filed 2026-01-26 for the 1/23 transaction (filed within the typical 2-business-day Form 4 deadline).
• Shares owned after transaction: not specified in the provided summary; the filing states the reporting persons are in a Section 13(d) group that beneficially owns more than 10%.
• Footnotes: F1–F3 clarify ownership structure — the funds own shares directly and Joseph Stilwell is reported indirectly as managing member/owner of Stilwell Value LLC (general partner of the funds). Mr. Stilwell disclaims beneficial ownership of shares reported as held indirectly except to the extent of his pecuniary interest.

Context
This is institutional/activist investor activity (a 13(d) group) rather than a typical executive or employee trade. Purchases are reported (not sales); investors often watch insider purchases for signals, but the filing provides facts only — it does not state motives.