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[Form 4] First Business Financial Services, Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Positive)
Form Type
4
Rhea-AI Filing Summary

Form 4 highlights: Director Ralph R. Kauten purchased 10,000 shares of First Business Financial Services, Inc. (FBIZ) common stock on 07/30/2025 at $47.80 per share (Code 鈥淧鈥�).

Following the transaction, Kauten directly owns 29,756.258 shares and indirectly controls 12,687 additional shares through a family LLC, for a combined beneficial stake of roughly 42,443 shares. Direct holdings include 3,300 shares in an IRA and 22,911.258 shares in the Ralph Kauten Revocable Trust.

No derivative transactions were reported. Form was signed 08/01/2025 by attorney-in-fact Peter J. Wilder.

Punti salienti del Modulo 4: Il direttore Ralph R. Kauten ha acquistato 10.000 azioni ordinarie di First Business Financial Services, Inc. (FBIZ) il 30/07/2025 al prezzo di 47,80 $ per azione (Codice 鈥淧鈥�).

Dopo questa operazione, Kauten possiede direttamente 29.756,258 azioni e controlla indirettamente altre 12.687 azioni tramite una LLC familiare, per una partecipazione complessiva di circa 42.443 azioni. Le partecipazioni dirette includono 3.300 azioni in un IRA e 22.911,258 azioni nel Ralph Kauten Revocable Trust.

Non sono state segnalate transazioni derivative. Il modulo 猫 stato firmato il 01/08/2025 dall'avvocato incaricato Peter J. Wilder.

Aspectos destacados del Formulario 4: El director Ralph R. Kauten compr贸 10.000 acciones ordinarias de First Business Financial Services, Inc. (FBIZ) el 30/07/2025 a 47,80 $ por acci贸n (C贸digo 鈥淧鈥�).

Tras la transacci贸n, Kauten posee directamente 29.756,258 acciones y controla indirectamente otras 12.687 acciones a trav茅s de una LLC familiar, para una participaci贸n combinada de aproximadamente 42.443 acciones. Las tenencias directas incluyen 3.300 acciones en una IRA y 22.911,258 acciones en el Ralph Kauten Revocable Trust.

No se reportaron transacciones derivadas. El formulario fue firmado el 01/08/2025 por el apoderado Peter J. Wilder.

靹滌嫕 4 欤检殧 雮挫毄: 鞚挫偓 Ralph R. Kauten鞚� 2025雲� 7鞗� 30鞚检棎 First Business Financial Services, Inc.(FBIZ)鞚� 氤错喌欤� 10,000欤茧ゼ 欤茧嫻 47.80雼煬鞐� 毵れ垬頃橃榾鞀惦媹雼�(旖旊摐 鈥淧鈥�).

瓯半灅 頉� Kauten鞚� 歆侅爲鞝侅溂搿� 29,756.258欤茧ゼ 氤挫湢頃橁碃 鞛堨溂氅�, 臧�臁� LLC毳� 韱淀暣 臧勳爲鞝侅溂搿� 於旉皜 12,687欤茧ゼ 韱奠牅頃橃棳 齑� 鞎� 42,443欤检潣 鞁れ 歆�攵勳潉 氤挫湢頃橁碃 鞛堨姷雼堧嫟. 歆侅爲 氤挫湢攵勳棎電� IRA 瓿勳鞚� 3,300欤检檧 Ralph Kauten Revocable Trust鞚� 22,911.258欤缄皜 韽暔霅╇媹雼�.

韺岇儩靸來拡 瓯半灅電� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�. 靹滌嫕鞚� 2025雲� 8鞗� 1鞚� 雽�毽澑 Peter J. Wilder臧� 靹滊獏頃橃榾鞀惦媹雼�.

Points cl茅s du formulaire 4 : Le directeur Ralph R. Kauten a achet茅 10 000 actions ordinaires de First Business Financial Services, Inc. (FBIZ) le 30/07/2025 au prix de 47,80 $ par action (Code 芦 P 禄).

Suite 脿 cette transaction, Kauten d茅tient directement 29 756,258 actions et contr么le indirectement 12 687 actions suppl茅mentaires via une LLC familiale, pour une participation b茅n茅ficiaire combin茅e d'environ 42 443 actions. Les avoirs directs comprennent 3 300 actions dans un IRA et 22 911,258 actions dans le Ralph Kauten Revocable Trust.

Aucune transaction d茅riv茅e n鈥檃 茅t茅 signal茅e. Le formulaire a 茅t茅 sign茅 le 01/08/2025 par le mandataire Peter J. Wilder.

Formular 4 Highlights: Direktor Ralph R. Kauten kaufte am 30.07.2025 10.000 Stammaktien von First Business Financial Services, Inc. (FBIZ) zu je 47,80 $ (Code 鈥濸鈥�).

Nach der Transaktion besitzt Kauten direkt 29.756,258 Aktien und kontrolliert indirekt weitere 12.687 Aktien 眉ber eine Familien-LLC, was eine kombinierte wirtschaftliche Beteiligung von etwa 42.443 Aktien ergibt. Die direkten Best盲nde umfassen 3.300 Aktien in einem IRA und 22.911,258 Aktien im Ralph Kauten Revocable Trust.

Es wurden keine Derivatgesch盲fte gemeldet. Das Formular wurde am 01.08.2025 vom Bevollm盲chtigten Peter J. Wilder unterzeichnet.

Positive
  • Open-market purchase of 10,000 shares by a sitting director indicates confidence and increases insider alignment.
  • No insider sales or derivative hedging accompany the transaction, reinforcing the positive signal.
Negative
  • None.

Insights

TL;DR: Director bought 10k shares, signaling confidence; modest dollar size but positive.

The purchase totals about $478k, a meaningful amount relative to typical FBIZ insider activity. Buying rather than option exercise suggests cash commitment and aligns the director鈥檚 interests with shareholders. Although one trade rarely changes the investment thesis, insider buying after recent market volatility can bolster sentiment and may hint at management鈥檚 favorable outlook on earnings or valuation. No red flags鈥攏o sales, no derivatives, no 10b5-1 plan disclosure鈥攕o the action looks discretionary. Impact: modestly positive.

TL;DR: Transaction enhances alignment; governance stance unchanged.

Directors increasing open-market holdings generally strengthen governance by reinforcing long-term commitment. Kauten already served as director; the added stake lifts his combined ownership to roughly 0.5鈥�0.6% of outstanding shares (estimate based on 7.2 m shares O/S). No related-party dealings or preferential pricing are indicated. Filing timeliness (within two business days) complies with Section 16(a) requirements. Impact on governance quality: positive but incremental.

Punti salienti del Modulo 4: Il direttore Ralph R. Kauten ha acquistato 10.000 azioni ordinarie di First Business Financial Services, Inc. (FBIZ) il 30/07/2025 al prezzo di 47,80 $ per azione (Codice 鈥淧鈥�).

Dopo questa operazione, Kauten possiede direttamente 29.756,258 azioni e controlla indirettamente altre 12.687 azioni tramite una LLC familiare, per una partecipazione complessiva di circa 42.443 azioni. Le partecipazioni dirette includono 3.300 azioni in un IRA e 22.911,258 azioni nel Ralph Kauten Revocable Trust.

Non sono state segnalate transazioni derivative. Il modulo 猫 stato firmato il 01/08/2025 dall'avvocato incaricato Peter J. Wilder.

Aspectos destacados del Formulario 4: El director Ralph R. Kauten compr贸 10.000 acciones ordinarias de First Business Financial Services, Inc. (FBIZ) el 30/07/2025 a 47,80 $ por acci贸n (C贸digo 鈥淧鈥�).

Tras la transacci贸n, Kauten posee directamente 29.756,258 acciones y controla indirectamente otras 12.687 acciones a trav茅s de una LLC familiar, para una participaci贸n combinada de aproximadamente 42.443 acciones. Las tenencias directas incluyen 3.300 acciones en una IRA y 22.911,258 acciones en el Ralph Kauten Revocable Trust.

No se reportaron transacciones derivadas. El formulario fue firmado el 01/08/2025 por el apoderado Peter J. Wilder.

靹滌嫕 4 欤检殧 雮挫毄: 鞚挫偓 Ralph R. Kauten鞚� 2025雲� 7鞗� 30鞚检棎 First Business Financial Services, Inc.(FBIZ)鞚� 氤错喌欤� 10,000欤茧ゼ 欤茧嫻 47.80雼煬鞐� 毵れ垬頃橃榾鞀惦媹雼�(旖旊摐 鈥淧鈥�).

瓯半灅 頉� Kauten鞚� 歆侅爲鞝侅溂搿� 29,756.258欤茧ゼ 氤挫湢頃橁碃 鞛堨溂氅�, 臧�臁� LLC毳� 韱淀暣 臧勳爲鞝侅溂搿� 於旉皜 12,687欤茧ゼ 韱奠牅頃橃棳 齑� 鞎� 42,443欤检潣 鞁れ 歆�攵勳潉 氤挫湢頃橁碃 鞛堨姷雼堧嫟. 歆侅爲 氤挫湢攵勳棎電� IRA 瓿勳鞚� 3,300欤检檧 Ralph Kauten Revocable Trust鞚� 22,911.258欤缄皜 韽暔霅╇媹雼�.

韺岇儩靸來拡 瓯半灅電� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�. 靹滌嫕鞚� 2025雲� 8鞗� 1鞚� 雽�毽澑 Peter J. Wilder臧� 靹滊獏頃橃榾鞀惦媹雼�.

Points cl茅s du formulaire 4 : Le directeur Ralph R. Kauten a achet茅 10 000 actions ordinaires de First Business Financial Services, Inc. (FBIZ) le 30/07/2025 au prix de 47,80 $ par action (Code 芦 P 禄).

Suite 脿 cette transaction, Kauten d茅tient directement 29 756,258 actions et contr么le indirectement 12 687 actions suppl茅mentaires via une LLC familiale, pour une participation b茅n茅ficiaire combin茅e d'environ 42 443 actions. Les avoirs directs comprennent 3 300 actions dans un IRA et 22 911,258 actions dans le Ralph Kauten Revocable Trust.

Aucune transaction d茅riv茅e n鈥檃 茅t茅 signal茅e. Le formulaire a 茅t茅 sign茅 le 01/08/2025 par le mandataire Peter J. Wilder.

Formular 4 Highlights: Direktor Ralph R. Kauten kaufte am 30.07.2025 10.000 Stammaktien von First Business Financial Services, Inc. (FBIZ) zu je 47,80 $ (Code 鈥濸鈥�).

Nach der Transaktion besitzt Kauten direkt 29.756,258 Aktien und kontrolliert indirekt weitere 12.687 Aktien 眉ber eine Familien-LLC, was eine kombinierte wirtschaftliche Beteiligung von etwa 42.443 Aktien ergibt. Die direkten Best盲nde umfassen 3.300 Aktien in einem IRA und 22.911,258 Aktien im Ralph Kauten Revocable Trust.

Es wurden keine Derivatgesch盲fte gemeldet. Das Formular wurde am 01.08.2025 vom Bevollm盲chtigten Peter J. Wilder unterzeichnet.

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*
Kauten Ralph R.
(Last) (First) (Middle)
401 CHARMANY DRIVE
(Street)
MADISON WI 53719
(City) (State) (Zip)
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)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/30/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Common Stock 07/30/2025 P 10,000 A $47.8 29,756.258(1) D
Common Stock 12,687 I By Reporting Person's Family LLC
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Includes 3,300 shares held by reporting person's IRA and 22,911.258 shares held by the Ralph Kauten Revocable Trust.
Peter J. Wilder (Pursuant to Power of Attorney) 08/01/2025
** 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.

Source:

FAQ

What did FBIZ director Ralph Kauten buy on 07/30/2025?

He purchased 10,000 shares of First Business Financial Services common stock at $47.80 each.

How many FBIZ shares does Kauten now own?

After the trade he beneficially owns about 42,443 shares (29,756.258 direct, 12,687 indirect).

Was the purchase part of a Rule 10b5-1 plan?

No; the filing does not indicate a 10b5-1 plan, suggesting a discretionary open-market buy.

Were any derivative securities involved in this Form 4?

No derivative securities were acquired or disposed of; only common stock was reported.

When was the Form 4 for FBIZ filed?

The form was signed and filed on 08/01/2025, within the required two-day window.
Stock FBIZ logo
First Business Finl Svcs Inc W

NASDAQ:FBIZ

FBIZ Rankings

#4608 Ranked by Market Cap
#1284 Ranked by Dividends

FBIZ Latest News

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FBIZ Latest SEC Filings

Aug 1, 2025
[Form 4] First Business Financial Services, Inc. Insider Trading Activity
Jul 31, 2025
[13F-HR] First Business Financial Services, Inc. SEC Filing
Jul 31, 2025
[8-K] First Business Financial Services, Inc. Reports Material Event
Jul 29, 2025
[8-K] First Business Financial Services, Inc. Reports Material Event
Jul 25, 2025
[10-Q] First Business Financial Services, Inc. Quarterly Earnings Report

FBIZ Stock Data

396.86M
7.86M
5.02%
70.67%
0.65%
Banks - Regional
State Commercial Banks
United States
MADISON