Zillges Nicholas W 4

What Happened

• Nicholas W. Zillges, President & CEO and director of Marathon Bancorp, exercised stock options to acquire 2,998 shares at $6.48 per share on February 23, 2026, for a total cash payment of $19,427.
• The filing also reports a corresponding derivative entry showing 2,998 shares “disposed” at $0, which reflects the conversion/settlement mechanics of the derivative instrument rather than a market sale.

Key Details

• Transaction date: 2026-02-23 (reported on Form 4 filed 2026-02-24).
• Acquired: 2,998 shares at $6.48/share — total $19,427 (Code M: exercise/conversion of derivative).
• Disposed: 2,998 shares at $0.00 — reported as a derivative conversion entry.
• Shares owned after transaction: not provided in the excerpt of the filing.
• Footnotes included in the filing:
  • F1: Includes restricted stock vesting 20% per year starting June 28, 2023.
  • F2: Stock options vest 20% per year starting May 16, 2024.
  • F3: Stock options vest 20% per year starting June 28, 2023.
• Filing timeliness: Reported on 2026-02-24 for a 2026-02-23 transaction — appears timely (no late filing flag).

Context

• This was an option exercise (Code M). The filing shows acquisition of shares via exercise; it does not show a sale of the acquired shares in the open market. If the shares had been immediately sold (cashless exercise), you would normally see a sale transaction with proceeds.
• Exercise transactions indicate the insider converted options into stock; they are factual events and do not by themselves prove intent or sentiment.