Grimm Thomas L 4

What Happened

• Thomas L. Grimm, a director of Marathon Bancorp, exercised options to acquire 300 shares at an exercise price of $6.48 per share for a total cost of $1,944 on June 3, 2026. The same filing also shows a 300-share derivative disposition reported at $0.00 on the same date (both entries are coded M for exercise/conversion of a derivative).
• This was an exercise of derivative securities (options) rather than an open-market buy or sale. The acquisition increases his economic ownership via the exercise, while the paired $0.00 disposition is often used when shares are surrendered or withheld (e.g., to cover exercise costs or tax withholding); the filing does not provide further detail.

Key Details

• Transaction date: 2026-06-03; Filing date: 2026-06-05 (appears timely under the Form 4 two-business-day rule).
• Acquired: 300 shares at $6.48 each — total reported cost $1,944 (code M: exercise/conversion).
• Disposed: 300 shares reported at $0.00 (code M: derivative entry); filing does not state proceeds or reason.
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes in the filing:
  • F1: Includes restricted stock vesting 20% per year beginning June 28, 2023.
  • F2: Stock options vest 20% per year beginning May 16, 2024.
  • F3: Stock options vest 20% per year beginning June 28, 2023.
• No indication of a 10b5-1 plan or other automatic plan; no late filing noted.

Context

• For retail investors: an option exercise is a routine insider transaction and may simply reflect option vesting and exercise mechanics rather than a directional view on the stock. The paired acquisition and $0.00 disposition entries are commonly associated with share surrender or withholding for tax/exercise payment; the Form 4 here does not show an open-market sale or cash proceeds. The monetary size ($1,944) is small.