OLAFSON HARLEE 4

What Happened

• Harlee Olafson, Chief Risk Officer of West Bancorporation (WTBA), received an award of 15,000 restricted stock units (RSUs) on February 23, 2026. The award was recorded at $0.00 cash cost (an equity grant rather than a purchase).
• These are not immediately vested shares and therefore do not represent freely tradable stock at grant.

Key Details

• Transaction date: 2026-02-23; Form 4 filed: 2026-02-24 (appears timely under standard two-business-day filing rules).
• Grant amount and price: 15,000 RSUs @ $0.00 (awarded, no cash paid).
• Vesting and performance notes:
  • 7,500 RSUs vest in five equal annual installments beginning March 25, 2027 (i.e., time-based vesting).
  • The remaining 7,500 RSUs cliff-vest on March 25, 2029, subject to achievement of performance criteria set by the Compensation Committee.
• Other footnotes in the filing:
  • 325 previously reported performance stock units did not vest because applicable performance conditions were not met.
  • 990 shares were acquired via dividend reinvestment in the company's 401(k) plan during 2025.
• Shares owned after this grant were not specified in the provided excerpt.

Context

• This transaction is an equity compensation grant (award) rather than a market purchase or sale. RSU grants are commonly used to retain executives and align their incentives with long-term company performance.
• Because a portion of the RSUs is performance‑based, future vesting depends on meeting specified goals; such awards do not necessarily indicate immediate insider sentiment to buy or sell shares.