NELSON DAVID D 4

What Happened

• David D. Nelson, CEO & President (also a director) of West Bancorporation, had 6,811 restricted stock unit (RSU) shares withheld to satisfy payroll tax obligations upon vesting. The withholding price was $23.71 per share for a total value of $161,489. The transaction is reported as code F (payment of exercise price or tax liability), a disposition rather than an open‑market sale.

Key Details

• Transaction date: March 25, 2026; Filing date: March 26, 2026 (timely — Form 4 filed within required window).
• Withheld/Disposed: 6,811 shares at $23.71 each; total value ≈ $161,489.
• Transaction code: F — shares withheld to pay tax withholding on vested RSUs (not an open‑market sale).
• Footnote F1: Restricted stock units were withheld to pay payroll taxes due upon vesting and issuance of RSU shares on March 25, 2026.
• Footnote F2: 815 shares of previously reported performance stock units did not vest because applicable performance conditions were not met.
• Shares owned after the transaction: Not specified in the supplied filing summary.

Context

• This is a routine tax-withholding disposition tied to RSU vesting; it does not represent an active sale or a directional buy signal. Such withholdings are common when equity awards vest and are used solely to cover tax obligations.