FS Bancorp, Inc. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Bancorp, Inc. (FSBW) on October 2, 2024, reporting events that occurred on September 30, 2024. The registrant is a Washington-based holding company for 1st Security Bank of Washington.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Director Departure: Margaret R. Piesik retired from the Board of Directors of FS Bancorp, Inc. and 1st Security Bank of Washington, effective September 30, 2024. She had served since 2006.
- Director Appointment: Terri L. Degner was appointed to the Company's Board of Directors effective September 30, 2024. She has served on the Bank's Board since January 1, 2024.
- Committee Assignments: Ms. Degner has been appointed to the Asset Quality and Audit Committees for the Bank.
Management Commentary and Compensation
Ms. Piesik's retirement was not due to any disagreement with the Company regarding operations, policies, or practices. In recognition of her service, the Compensation Committee vested her stock and stock options and will pay her directors' fees through March 31, 2025. Ms. Degner's appointment was recommended by the Nominating & Environmental, Social and Governance Committee. There are no reportable related party transactions involving Ms. Degner.
Key Facts for Investor Verification
- Verify the effective date of Ms. Degner's board appointment and her specific committee roles.
- Confirm the vesting status of Ms. Piesik's equity awards and the duration of her fee payments.
- Review the attached press release (Exhibit 99.1) for detailed biographical information on Ms. Degner.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.