What does the 1,108-share tax-withholding disposition on FBIZ stock mean?

The 1,108-share disposition represents shares withheld to pay taxes on Garcia’s vested stock awards, not an open-market sale. These FBIZ shares were effectively used to satisfy tax obligations associated with the 2,500-share Performance Restricted Stock Unit vesting event reported on the same Form 4.

FBIZ (FBIZ) risk chief nets equity grant as PRSUs vest, taxes withheld

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

FIRST BUSINESS FINANCIAL SERVICES, INC. Chief Risk Officer Laura M. Garcia reported routine equity compensation activity in company common stock. She received a grant of 2,500 shares at no cost upon vesting of Performance Restricted Stock Unit awards for the 2023–2025 performance period. To cover tax obligations, 1,108 shares were disposed of through a tax-withholding mechanism at a value of $58.60 per share, leaving her with 4,842 shares held directly after these transactions.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Garcia Laura M.

Role Chief Risk Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,500	$0.00	--
Tax Withholding	Common Stock	1,108	$58.60	$65K

Holdings After Transaction: Common Stock — 5,950 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 2,500 shares Shares withheld for taxes: 1,108 shares Tax-withholding price: $58.60 per share +2 more

5 metrics

Shares granted 2,500 shares Common Stock from vested Performance Restricted Stock Units

Shares withheld for taxes 1,108 shares Tax-withholding disposition at $58.60 per share

Tax-withholding price $58.60 per share Value used for 1,108-share tax-withholding disposition

Shares owned after transaction 4,842 shares Direct holdings of Common Stock following Form 4 transactions

Performance period 2023–2025 Period for Performance Restricted Stock Unit awards that vested

Key Terms

Performance Restricted Stock Unit awards, tax-withholding disposition, Common Stock, grant, award, or other acquisition

4 terms

Performance Restricted Stock Unit awards 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.

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.

grant, award, or other acquisition financial

"Grant, award, or other acquisition"

Form 4 Insider Transactions: What Each Field Means →

04/14/2026 - 04:23 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^*

Garcia Laura M.

(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 Risk 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		2,500⁽¹⁾	A	$00.00	5,950	D
Common Stock	04/10/2026		F		1,108	D	$58.6	4,842	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 insider transaction did FBIZ Chief Risk Officer Laura Garcia report?

Laura Garcia reported routine equity compensation activity, receiving 2,500 shares of FBIZ common stock from vesting Performance Restricted Stock Units. As part of the same event, 1,108 shares were withheld to satisfy tax obligations, resulting in 4,842 shares owned directly after the transactions.

Was Laura Garcia’s FBIZ Form 4 a stock purchase or a compensation grant?

The Form 4 reflects a compensation grant, not an open-market purchase. Garcia received 2,500 FBIZ common shares at no cost upon vesting of Performance Restricted Stock Unit awards tied to the 2023–2025 performance period, indicating compensation-related equity rather than discretionary buying.

How many FBIZ shares does Laura Garcia hold after these transactions?

Following the reported Form 4 transactions, Laura Garcia directly holds 4,842 shares of FIRST BUSINESS FINANCIAL SERVICES, INC. common stock. This figure reflects the 2,500-share grant from vested Performance Restricted Stock Units, net of 1,108 shares withheld to cover related tax liabilities.

What is the significance of the 2023–2025 Performance Restricted Stock Unit vesting for FBIZ?

The vesting of 2023–2025 Performance Restricted Stock Units delivered 2,500 FBIZ shares to Chief Risk Officer Laura Garcia as equity compensation. It reflects completion of a defined performance period and aligns executive pay with company performance over that timeframe, rather than indicating market trading activity.