What are Harlee Olafson’s WEST BANCORPORATION INC share holdings after the transaction?

Following the tax-withholding disposition, Harlee Olafson directly held 135,948 WTBA common shares. In addition, there were 20,850 shares held indirectly through a 401(k) plan, as reported in the same Form 4 filing.

WTBA (WTBA) risk chief reports tax-withholding share disposition, updates holdings

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

WEST BANCORPORATION INC Chief Risk Officer Harlee Olafson reported a routine tax-withholding share disposition related to equity compensation. On March 25, 2026, 6,334 shares of common stock were withheld at $23.71 per share to cover payroll taxes upon vesting of restricted stock units. After this, Olafson directly held 135,948 common shares and indirectly held 20,850 shares through a 401(k) plan. A footnote also notes that 719 previously reported performance stock units did not vest because the performance conditions were not met.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider OLAFSON HARLEE

Role CHIEF RISK OFFICER

Type	Security	Shares	Price	Value
Tax Withholding	COMMON STOCK	6,334	$23.71	$150K
holding	COMMON STOCK	--	--	--

Holdings After Transaction: COMMON STOCK — 135,948 shares (Direct); COMMON STOCK — 20,850 shares (Indirect, By 401(k) Plan)

Footnotes (1)

Restricted stock units withheld to pay payroll taxes due upon vesting and issuance of restricted stock units shares on March 25, 2026. 719 shares of previously reported performance stock units did not vest because the applicable performance conditions were not satisfied.

Form 4 Insider Transactions: What Each Field Means →

03/26/2026 - 04:29 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^*

OLAFSON HARLEE

(Last)

(First)

(Middle)

6813 NW 93RD STREET

(Street)

JOHNSTON

IOWA

50131

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
WEST BANCORPORATION INC [ WTBA ]

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)
03/25/2026

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	03/25/2026		F		6,334⁽¹⁾	D	$23.71	135,948⁽²⁾	D
COMMON STOCK								20,850	I	By 401(k) Plan

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. Restricted stock units withheld to pay payroll taxes due upon vesting and issuance of restricted stock units shares on March 25, 2026.

2. 719 shares of previously reported performance stock units did not vest because the applicable performance conditions were not satisfied.

Remarks:

	/s/ Melissa L. Gillespie, By Power of Attorney	03/26/2026
	** 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 WTBA Chief Risk Officer Harlee Olafson report?

Harlee Olafson reported a tax-withholding disposition of 6,334 WEST BANCORPORATION INC common shares. The shares were withheld on March 25, 2026 to pay payroll taxes due when restricted stock units vested and converted into shares, rather than being sold in the open market.

Was the WTBA insider transaction a market sale of shares?

No, the WTBA transaction was a tax-withholding event, not an open-market sale. Shares were withheld by the company to satisfy payroll tax obligations when restricted stock units vested, a common mechanical step in stock-based compensation plans.

How many WEST BANCORPORATION INC shares were involved in the tax withholding?

A total of 6,334 WEST BANCORPORATION INC common shares were withheld at $23.71 per share. This withholding covered payroll taxes due when restricted stock units vested and were issued as shares on March 25, 2026.

What happened to previously reported performance stock units for WTBA’s Harlee Olafson?

The filing notes that 719 previously reported performance stock units did not vest. The performance conditions tied to those units were not satisfied, so those units were forfeited and did not convert into WEST BANCORPORATION INC common shares.