Nicholas W. Zillges, serving as President and Chief Executive Officer of Marathon Bancorp, Inc. (NASDAQ:MBBC), has increased his direct equity position in the company. On June 16, 2026, Mr. Zillges acquired 970 shares of Marathon Bancorp common stock. The transaction was executed at a price of $15.00 per share, resulting in a total investment value of $14,550.
Post-transaction, Mr. Zillges holds 57,205 shares of common stock directly. This ownership structure includes restricted stock units that vest at a rate of 20% annually. The first tranche of restricted stock began vesting on June 28, 2023, while a subsequent tranche is scheduled to commence vesting on June 15, 2027.
Beyond direct holdings, Mr. Zillges maintains indirect equity exposure through multiple retirement and employee savings vehicles. These include 51,160 shares held within a 401(k) plan, 604 shares within an Individual Retirement Account (IRA), and 4,429 shares within an Employee Stock Ownership Plan (ESOP).
Mr. Zillges also maintains a substantial portfolio of derivative securities in the form of stock options. He holds options for 29,994 shares with an exercise price of $8.13. These options commenced vesting at a rate of 20% per year on June 28, 2023, and are scheduled to expire on June 28, 2032.
Additionally, Mr. Zillges holds options for 3,000 shares at an exercise price of $6.48. These options began vesting at 20% per year on May 16, 2024, and will expire on May 16, 2033.
A third tranche of options covers 42,335 shares with an exercise price of $14.55. These options are set to begin vesting at a rate of 20% per year on June 15, 2027, and will expire on June 15, 2036.
The insider acquisition occurs as Marathon Bancorp shares have demonstrated significant price momentum, delivering a 50.55% return over the past year. Despite this performance, valuation analysis suggests the stock is currently trading above its fair value, placing it within categories of overvalued equities. At the time of reporting, Marathon Bancorp shares were trading at $13.88, with a total market capitalization of $44.2 million.
In a concurrent development, Marathon Bancorp has announced a stock repurchase program authorizing the buyback of up to 146,931 shares of common stock. This volume represents approximately 5% of the company's outstanding shares. The announcement marks the firm's first stock repurchase program since completing its second step conversion and related stock offering in April 2025.
The repurchase initiative was communicated via press release, highlighting the strategic nature of the move. This action is framed as part of Marathon Bancorp's ongoing financial strategies, specifically focusing on the management of share capital. The program reflects the company's current approach to shareholder value management.
Market participants and analysts are expected to monitor the execution and impact of this repurchase program closely. The initiative represents a significant step in the company's capital allocation framework and will likely influence perceptions of the firm's financial standing and market valuation.