Waterstone Financial (WSBF) EVP Gordon Ryan Exercises Options, Sells Shares

What Happened
Gordon J. Ryan, EVP and Chief Credit Officer of Waterstone Financial, exercised options to acquire 10,000 shares at $17.20 per share (cost $172,000) on August 13, 2026. On the same day he sold a total of 8,157 shares in open-market transactions at prices between $21.10 and $21.14, generating approximately $172,406 in proceeds. The filing also shows a derivative-item disposition of 10,000 shares at the $17.20 exercise price, reflecting the option conversion.

Key Details

• Transaction date: August 13, 2026 (filed Aug 17, 2026 — timely within Section 16 two-business-day window).
• Exercise: 10,000 shares acquired at $17.20 each — total cost $172,000.
• Open-market sales: 620 shares @ $21.10 ($13,082); 1,300 shares @ $21.11 ($27,443); 6,237 shares @ $21.14 ($131,881) — total proceeds ≈ $172,406.
• Derivative entry: 10,000-share conversion/disposition shown at $17.20 ($172,000) — reporting of option conversion.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: F1 and F2 indicate certain transactions “not required to be reported pursuant to Section 16,” per the filing.

Context
This sequence — exercising options and selling shares the same day — is commonly seen when insiders do a cashless exercise or sell-to-cover to cover option costs and taxes; the filing shows the exercise and same-day market sales but does not state the insider’s intent. The derivative disposition line likely reflects the mechanics of converting options into common stock for reporting purposes. All items were reported within the normal Section 16 filing window.