First Business (FBIZ) CIO receives 2,430-share award, 1,143 shares withheld for taxes

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

FIRST BUSINESS FINANCIAL SERVICES, INC. Chief Information Officer Daniel Ovokaitys received a grant of 2,430 shares of Common Stock at no cost upon vesting of Performance Restricted Stock Unit awards for the 2023–2025 performance period. To cover tax obligations, 1,143 shares were disposed of through a tax-withholding transaction at $58.60 per share. After these compensation-related entries, he directly holds 10,668 shares of Common Stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ovokaitys Daniel

Role Chief Information Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,430	$0.00	--
Tax Withholding	Common Stock	1,143	$58.60	$67K

Holdings After Transaction: Common Stock — 11,811 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 2,430 shares Tax-withholding shares: 1,143 shares Tax-withholding price: $58.60 per share +2 more

5 metrics

Shares granted 2,430 shares Common Stock issued upon vesting of Performance RSUs for 2023–2025

Tax-withholding shares 1,143 shares Shares delivered to cover tax liability on vesting

Tax-withholding price $58.60 per share Value used for tax-withholding disposition of 1,143 shares

Post-transaction holdings 10,668 shares Directly owned Common Stock after grant and tax withholding

Transaction date 2026-04-10 Date of grant and tax-withholding disposition

Key Terms

Performance Restricted Stock Unit, tax-withholding disposition, grant/award acquisition, Common Stock

4 terms

Performance Restricted Stock Unit financial

"Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards for the performance period 2023-2025."

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

grant/award acquisition financial

"transaction_action: grant/award acquisition"

Common Stock financial

"Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

04/14/2026 - 04:24 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ovokaitys Daniel

(Last)

(First)

(Middle)

401 CHARMANY DRIVE

(Street)

MADISON

WISCONSIN

53719

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FIRST BUSINESS FINANCIAL SERVICES, INC. [ FBIZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Information Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/10/2026		A		2,430⁽¹⁾	A	$0	11,811	D
Common Stock	04/10/2026		F		1,143	D	$58.6	10,668	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Issuance of Common Stock upon vesting of Performance Restricted Stock Unit awards for the performance period 2023-2025.

	Peter J. Wilder (pursuant to Power of Attorney filed previously)	04/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did FBIZ executive Daniel Ovokaitys report in this Form 4?

Daniel Ovokaitys reported a stock award and related tax withholding. He received 2,430 shares of FBIZ Common Stock upon vesting of performance-based RSUs, and 1,143 shares were withheld at $58.60 per share to satisfy tax liabilities, leaving him with 10,668 shares directly owned.

How many FBIZ shares did the CIO acquire through this stock award?

He acquired 2,430 shares of FBIZ Common Stock at no cash cost. These shares were issued upon vesting of Performance Restricted Stock Unit awards tied to the 2023–2025 performance period, reflecting equity-based compensation rather than an open-market stock purchase.

Why were 1,143 FBIZ shares disposed of in Daniel Ovokaitys’ filing?

The 1,143 FBIZ shares were disposed of as a tax-withholding transaction. They were delivered at $58.60 per share to cover tax obligations arising from the vesting of Performance Restricted Stock Unit awards, not as an open-market sale indicating a discretionary trading decision.

How many FBIZ shares does Daniel Ovokaitys own after these transactions?

Following the grant and tax-withholding disposition, he directly owns 10,668 shares of FBIZ Common Stock. This figure reflects his post-transaction holdings after receiving 2,430 vested shares and having 1,143 shares withheld to satisfy tax liabilities associated with the award.

What is the nature of the FBIZ Performance Restricted Stock Unit awards mentioned?

The awards are Performance Restricted Stock Units for the 2023–2025 period that convert into Common Stock upon vesting. In this case, vesting triggered issuance of 2,430 shares to Daniel Ovokaitys, illustrating long-term, performance-based equity compensation rather than cash bonuses.