Elley Thomas S 4

What Happened

• Elley Thomas S, Senior EVP / CFO / Treasurer / Asst Secretary of First US Bancshares (FUSB), exercised 7,000 stock options on 2026-06-26, acquiring those shares at an exercise price of $14.11 per share (total exercise cost $98,770).
• To cover the exercise price/tax liability, 6,220 shares were surrendered/withheld at a reported price of $16.75 per share (value $104,185). The filing also records the derivative conversion for 7,000 option units (standard exercise reporting).
• Net result: 780 shares were retained by the insider after withholding (7,000 acquired − 6,220 withheld). This is an option exercise with shares withheld for taxes rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-29.
• Exercise: 7,000 shares acquired at $14.11/share = $98,770.
• Withholding/tax: 6,220 shares disposed at $16.75/share = $104,185.
• Net shares retained: 780.
• Footnote: Options were granted 2017-02-22 and vested in equal installments on each of the first three anniversaries of the grant (i.e., fully vested long ago) [F1].
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing timeliness: Form 4 shows a 6/29/2026 filing for a 6/26/2026 transaction; no late-filing flag is shown in the excerpt provided.

Context

• This was an exercise of previously granted options (derivative exercise). The withholding of 6,220 shares to cover taxes/exercise costs is a common cashless-style mechanism and does not necessarily signal a deliberate open-market sale decision.
• For retail investors, option exercises with tax withholding are routine and primarily reflect vesting/exercise mechanics rather than directional insider buying or selling.