Cornish Terry 4

What Happened

• Cornish Terry, Senior Vice President and Chief Credit Officer of Marathon Bancorp (MBBC), received two awards on June 15, 2026: 3,500 shares of restricted stock (acquired at $0.00) and a derivative award of 7,000 shares (acquired at $0.00). Total awarded = 10,500 shares; no cash was paid for these awards.

Key Details

• Transaction date and price: June 15, 2026; both awards reported at $0.00 per share (award/grant).
• Total shares awarded: 3,500 (restricted stock) + 7,000 (derivative) = 10,500 shares.
• Vesting: Footnote F1 states the 3,500 restricted shares vest at 20% per year beginning June 15, 2027. The filing also includes additional footnotes (F2–F6) noting other restricted-stock and option vesting schedules (20% per year commencing in 2023, 2024 and 2027) for the insider’s broader holdings.
• Shares owned after transaction: not specified in the provided excerpt.
• Filing timeliness: Report filed on June 16, 2026 for transactions dated June 15, 2026 (filed the next day), i.e., timely based on the provided dates.

Context

• This was an award/grant (not an open‑market purchase or sale). Awards paid at $0 typically reflect compensation grants (restricted stock or RSUs) rather than purchases — these are common for executive compensation and are subject to vesting schedules rather than indicating an immediate market view.
• The 7,000 “derivative” award likely represents restricted stock units or another equity derivative; vesting and settlement terms are governed by the company’s award agreement (see the listed vesting-footnotes).