Citizens Community (CZWI) CEO Stephen Bianchi Exercises Options

What Happened Stephen M. Bianchi, President, CEO and a director of Citizens Community Bancorp (CZWI), exercised derivative securities on 2026-06-02. The Form 4 shows an exercise (transaction code M) that acquired 5,000 shares at $11.00 per share (total $55,000) and a simultaneous disposal of 5,000 shares at $11.00 (total $55,000). The net effect reported in this filing is not an increase in his share count.

Key Details

• Transaction date: 2026-06-02. Exercise/disposal price: $11.00 per share.
• Acquired: 5,000 common shares for $55,000 (code M — exercise/conversion).
• Disposed: 5,000 shares (listed as a derivative disposal) for $55,000.
• Shares acquired are held in the reporting person's self-directed IRA (footnote F1).
• Options relate to the company’s 2008 Equity Incentive Plan; vesting schedule noted in filing (footnote F2).
• The filing does not state total shares owned after the transactions.
• Filing timeliness: reported with period/date 2026-06-02 (no late filing indicated).

Context This Form 4 documents an option exercise. The paired acquisition and disposal entries often reflect a cashless exercise or a sale/transfer associated with exercising options, but the form does not specify the reason for the disposal. Because the transactions offset ($55,000 acquired vs $55,000 disposed), this filing does not by itself indicate an increase in the insider’s net holdings.