Nef James D. 4

What Happened

• James D. Nef, Senior Vice President and Director of Accounting at First Savings Financial Group (FSFG), exercised stock options on 2026-01-22 to acquire 6,600 shares in two tranches: 3,600 shares at $22.12 (cost $79,632) and 3,000 shares at $26.72 (cost $80,160), for a total exercise cost of $159,792.
• To satisfy tax/liability obligations, 3,833 of the shares were withheld/paid (reported as disposed) at a per-share value of $33.75, valued at $129,364. The filing shows two derivative-disposition entries (3,600 and 3,000 shares at $0) consistent with the option-to-share conversion. Footnote: the options were fully vested.

Key Details

• Transaction date: 2026-01-22 (reported on Form 4 filed 2026-01-30).
• Exercise lines: 3,600 shares @ $22.12 ($79,632) and 3,000 shares @ $26.72 ($80,160).
• Withholding/tax payment: 3,833 shares @ $33.75 = $129,364 (code F).
• Net shares likely received: 6,600 acquired − 3,833 withheld = 2,767 shares retained (inferred from filing).
• Footnote: stock options fully vested.
• Timeliness: Form 4 was filed 8 days after the transaction date; Form 4s are generally required within 2 business days, so this filing appears late.

Context

• Code meanings: M = exercise/conversion of derivative (options exercised); F = payment of exercise price or tax liability (shares withheld/surrendered to cover taxes).
• This was an option exercise (not an open-market purchase). Withholding of shares to cover taxes is common and does not necessarily signal a buy/sell decision on the remaining shares.
• For retail investors, purchases (open-market buys) often carry stronger signals than option exercises; here the exercise converted vested options into stock and resulted in a partial share withholding for taxes.