FS Bancorp, Inc. — Director's Dealing 2018

May 11, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FS Bancorp, Inc. (FSBW)
CIK: 0001530249
Period of Report: 2018-05-10

Reporting Person: Cochrane Judith A. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-10	Common Stock	M	2600	$16.89	Acquired	8912	Direct
2018-05-10	Common Stock	S	2600	$57.38	Disposed	6312	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-10	Stock Options (Right to buy)	$16.89	M	2600	Disposed	2024-05-08	Common Stock (2600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4754	Indirect

Footnotes

F1: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.31 to $57.50 per share, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1)