Werth Ann M 4

What Happened

• Ann M. Werth, a director of Marathon Bancorp, exercised stock options on May 5, 2026. She acquired 899 shares at an exercise price of $8.13 (cost $7,309) and 599 shares at $6.48 (cost $3,882), for a total of 1,498 shares and about $11,191 in aggregate exercise price.
• The filing also reports the corresponding derivatives (the options) as disposed at $0, which reflects conversion/termination of the option rights upon exercise — there is no report of an open‑market sale of the acquired shares in this filing.

Key Details

• Transaction date: May 5, 2026; Form 4 filed May 6, 2026 (timely filing).
• Exercise lots: 899 shares @ $8.13 (≈ $7,309); 599 shares @ $6.48 (≈ $3,882); total acquired = 1,498 shares; total exercise cost ≈ $11,191.
• Dispositions reported at $0 reflect conversion/termination of the derivative securities (the options), not a cash sale of shares.
• Shares owned after the transaction are not specified in the excerpt provided.
• Footnotes on the filing: restricted stock and options vest at 20% per year (notes F1–F4) — options and RSUs are subject to multi‑year vesting schedules.

Context

• This is an option exercise (transaction code M). Because the filing shows exercise payments rather than any sale proceeds, it appears Werth paid the exercise prices to receive shares rather than executing a cashless sale.
• Exercises convert option rights into common shares and do not necessarily indicate a purchase motivated by a view on the stock; they can be routine (e.g., to realize vested compensation). No 10% owner or gift codes apply here.