Matthew D. Mullet, President and CEO of the Bank at FS Bancorp, Inc. (NASDAQ:FSBW), filed a Form 4 on August 18, 2026, reporting changes in beneficial ownership of common stock as of August 14, 2026.

Key Highlights

  • Restricted stock award: Mullet acquired 8,046 shares of common stock pursuant to the FS Bancorp, Inc. 2026 Equity Incentive Plan on August 14, 2026.
  • Vesting schedule: The award vests in equal installments of 25% per year beginning on August 15, 2027.
  • Shares withheld for taxes: 1,970 shares were disposed of at $43.48 per share on August 14, 2026, via transaction code F.
  • Direct ownership after transactions: Mullet directly holds 112,416 shares of common stock following the reported transactions.
  • Additional indirect holdings: Mullet also holds 1,829 shares directly (separately reported), 10,853 shares indirectly through an ESOP, 5,600 shares indirectly through a spouse's IRA, and 22,124 shares indirectly through an IRA.

Mullet's Ownership Position Following August 2026 Equity Grant

According to the filing, Matthew D. Mullet, serving as President and CEO of the Bank at FS Bancorp, Inc., received an award of 8,046 restricted shares on August 14, 2026, under the FS Bancorp, Inc. 2026 Equity Incentive Plan. The filing notes that this award vests "in equal installments of 25% per year beginning on August 15, 2027." No price was associated with the acquisition of these shares, as they were granted rather than purchased.

Also on August 14, 2026, the filing reports that 1,970 shares were disposed of at a price of $43.48 per share under transaction code F, which typically denotes shares withheld to cover tax obligations in connection with the equity award. Following both transactions, Mullet's direct beneficial ownership stands at 112,416 shares, according to the filing.

Beyond direct holdings, the filing reports additional indirect ownership positions: 1,829 shares held directly under a separate line item, 10,853 shares through an ESOP, 5,600 shares through a spouse's IRA, and 22,124 shares through an IRA. The Form 4 was signed by Matthew D. Mullet and filed on August 18, 2026.

What Was Disclosed

The filing disclosed a restricted stock grant of 8,046 shares to FS Bancorp's President and CEO of the Bank on August 14, 2026, along with the disposal of 1,970 shares at $43.48 each, leaving a direct holding of 112,416 shares plus various indirect positions.