Bianchi Stephen M 4

What Happened
Stephen M. Bianchi, CEO, President and a director of Citizens Community Bancorp (CZWI), received 3,325 shares of common stock upon the vesting and settlement of performance-based restricted stock units (Performance RSUs). The shares were valued at $18.52 each for a total of $61,579. To satisfy withholding taxes on the vesting, 1,226 shares were surrendered at the same price (1,226 × $18.52 = $22,706). The transaction types reported were A (award/acquisition) and F (tax withholding).

Key Details

• Transaction date: 2026-01-22. Price used: $18.52 per share.
• Award: 3,325 shares settled from Performance RSUs (total value ≈ $61,579).
• Withholding: 1,226 shares surrendered to cover taxes (value ≈ $22,706). This is a tax-withholding disposition, not an open-market sale.
• Footnotes of note:
  • F1: RSUs were awarded Jan 19, 2023 and vested after certification of performance for the year ended Dec 31, 2025 (36-month performance cycle).
  • F2: The 1,226 shares were surrendered specifically to satisfy withholding taxes.
  • F3: These shares are held in the reporting person's self-directed IRA.
  • F4: (Background) prior option vesting schedule under an older plan — informational only.
• Shares owned after the transaction: not specified in the filing.
• Timeliness: Report filed 2026-01-26 for a 2026-01-22 transaction — appears timely under Form 4 filing rules.

Context
This was a vesting/settlement of performance RSUs (an award), not a market purchase or a signal of a deliberate buy/sell decision. The surrender of shares was a standard tax-withholding action rather than an open-market sale.