JOHNSON REBECCA 4

What Happened

• Rebecca Johnson, Vice President and Controller of Citizens Community Bancorp (CZWI), exercised stock options on January 23, 2026. She exercised a total of 4,000 option shares at a strike price of $9.62 per share (total exercise cost ≈ $38,480).
• Of the 4,000 underlying shares, 2,000 shares were reported as acquired (retained) and 2,000 shares were reported as disposed—consistent with a same-day sale or share-withholding to cover exercise costs/taxes (the filing lists the disposition as a derivative transaction).

Key Details

• Transaction date: 2026-01-23; Form 4 filed 2026-01-26 (filed timely).
• Exercise details: 4,000 options exercised at $9.62/share = $38,480 total exercise cost.
  • 2,000 shares acquired (cost $19,240)
  • 2,000 shares disposed (reported value $19,240)
• Transaction code: M = exercise/conversion of a derivative security (options).
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: Some shares are held under the Citizens Community Federal 401(k) Profit Sharing Plan.
  • F2: The options were granted under the 2008 Equity Incentive Plan and vested on a schedule that completed by 2021 (20% per year from 2017–2021).

Context

• This appears to be an option exercise with an immediate disposition of a portion of the shares—commonly done to cover the exercise cost or tax withholding (a partial cashless exercise). Such internal exercises are routine for insiders and do not by themselves indicate a change in sentiment.