FELBER FRANCIS E 4

What Happened
Francis E. Felber, a director of Citizens Community Bancorp, reported two "other" transactions on September 9, 2025: an acquisition of 3,845 shares and a disposition of 7,690 shares, both reported at $0.00. The filing explains these moves resulted from a distribution of the holdings of Ag Risk Managers LLC (an entity of which Mr. Felber is a member and president). The 3,845 shares represent his pecuniary interest received from that distribution. The transactions were reported on a Form 4 filed June 10, 2026 (late).

Key Details

• Transaction date: September 9, 2025; Form 4 filed June 10, 2026 (late filing).
• Reported transactions: +3,845 shares (Other, code J) @ $0.00; -7,690 shares (Other, code J) @ $0.00.
• Reported beneficial ownership in later filings (per footnote): as of May 4, 2026 — 24,795 shares (direct), 12,690 shares (indirect via IRA), 0 shares (indirect via LLC); as of May 18, 2026 — 25,295 direct, 12,690 indirect (IRA), 0 indirect (LLC).
• Footnotes: Transactions stem from a distribution by Ag Risk Managers LLC; Mr. Felber had previously reported beneficial ownership of LLC shares but disclaimed them except for his pecuniary interest. F2: some shares are held in his self-directed IRA.
• Transaction type: code J (“other acquisition or disposition”) — not an open-market buy/sell.

Context
These entries reflect an internal distribution/transfer from an LLC, not a cash market purchase or sale. Reported $0.00 prices are consistent with a distribution rather than proceeds or a market purchase. Because the Form 4 was filed many months after the September 2025 transactions, the report is late; late filings affect timeliness of disclosure for investors but do not change the underlying ownership changes.