LEHMANN WAYNE A 4

What Happened

• Wayne A. Lehmann, a director of IF Bancorp, disposed of 21,800 shares on 2026-03-12. The Form 4 lists the disposition as to the issuer (code D) with no per-share price on the transaction line, but a filing footnote states that under the October 29, 2025 merger agreement each share was converted into $26.40 in cash. That implies total cash consideration of about $575,520 (21,800 × $26.40). This was a corporate merger cash-out disposition, not an open-market sale.

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-13 (timely).
• Price / consideration: $26.40 per share per merger agreement (footnote F1); Form 4 transaction line shows N/A.
• Shares disposed: 21,800.
• Shares owned after transaction: not specified in the reported excerpt (the filing shows the disposition of 21,800 shares).
• Footnote: F1 — Under the Agreement and Plan of Merger (dated Oct 29, 2025), each outstanding IF Bancorp share was converted into $26.40 cash.
• Filing timeliness: appears timely (reported period 2026-03-12, filed 2026-03-13).

Context

• This was a disposition resulting from a merger cash-out (conversion of shares into cash under the merger agreement). Such corporate-transaction dispositions reflect deal mechanics rather than an insider choosing to sell on the open market and are generally less informative about management sentiment than voluntary open-market sales.