Filing Analysis
Marathon Bancorp, Inc. announced that stockholders approved the Company's 2026 Equity Incentive Plan on May 28, 2026, which allows for the grant of stock-based awards to officers, employees, and directors.
📋 Key Facts
- Stockholders approved the 2026 Equity Incentive Plan on May 28, 2026.
- The plan provides for stock-based awards to officers, employees, and directors of Marathon Bancorp, Inc. and Marathon Bank.
- The vote results were: 2,024,653 For, 135,220 Against, and 98,908 Abstain.
Marathon Bancorp, Inc. announced the adoption of a stock repurchase program for up to 146,931 shares of its common stock. This represents approximately 5.0% of the company's currently outstanding shares.
📋 Key Facts
- The company authorized the repurchase of up to 146,931 shares.
- The buyback amount represents approximately 5.0% of the current outstanding shares.
- Repurchases are expected to begin after the release of financial results for the period ended March 31, 2026.
- The announcement was filed under Item 8.01 (Other Events).
Marathon Bancorp, Inc. held its Annual Meeting of Stockholders on November 18, 2025. All proposals presented to stockholders were approved, including the election of directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting of Stockholders held on November 18, 2025.
- Ann M. Werth was elected to a three-year term ending in 2028 with 1,361,508 votes 'For'.
- Timothy R. Wimmer was elected to a three-year term ending in 2028 with 1,538,316 votes 'For'.
- Stockholders ratified the appointment of Bonadio & Co., LLP as independent registered public accounting firm for the fiscal year ending June 30, 2026.
- All proposals were approved by a majority of the voting shares.
Marathon Bancorp, Inc. announced the successful completion of its mutual-to-stock conversion for Marathon MHC, including a related stock offering.
📋 Key Facts
- Completion of conversion of Marathon MHC from mutual to stock form.
- Execution of a related stock offering by Marathon Bancorp, Inc.
- Announcement date: April 21, 2025.
Marathon Bancorp, Inc. announced that the conversion of its subsidiary, Marathon MHC, from a mutual to a stock form is expected to close on April 21, 2025. This event includes a related stock offering by the Company.
📋 Key Facts
- Conversion of Marathon MHC from mutual to stock form expected to close on April 21, 2025.
- The conversion involves a related stock offering by Marathon Bancorp, Inc.
- The announcement was made via press release dated April 16, 2025.
Marathon Bancorp, Inc. successfully completed a Special Meeting of Stockholders on March 31, 2025, resulting in the approval of a Plan of Conversion and Reorganization. This transition moves the company from a mutual holding company structure to a stock holding company structure.
📋 Key Facts
- Special Meeting held on March 31, 2025.
- Stockholders approved the Plan of Conversion and Reorganization (merger of Marathon MHC into the Company).
- The reorganization involves transitioning from a mutual holding company to a stock holding company structure.
- Voted 'For' by 1,861,535 votes from Marathon MHC members and 635,312 votes from excluding votes cast by Marathon MHC.
Marathon Bancorp, Inc. has announced an extension of its community offering related to the conversion of Marathon MHC from a mutual to a stock form. The company issued a press release on March 24, 2025, regarding this extension.
📋 Key Facts
- The filing relates to the ongoing conversion of Marathon MHC from mutual to stock form.
- The Company has extended the community offering for its stock offering.
- Announcement date: March 24, 2025.
Marathon Bancorp, Inc. announced a public offering of up to 2,182,125 shares of common stock at $10.00 per share. The proceeds are intended to fund the conversion of Marathon MHC from a mutual holding company structure to a fully stock holding company.
🚩 Red Flags
- Potential dilution for existing shareholders due to the issuance of up to 2.18 million new shares.
📋 Key Facts
- Public offering of up to 1,897,500 shares, subject to increase to 2,182,125 shares.
- Offering price is set at $10.00 per share.
- Purpose: To facilitate the conversion of Marathon MHC from a mutual holding company structure to a fully stock holding company.
- Filing date: February 20, 2025.
Marathon Bancorp, Inc. entered into an Agency Agreement with Janney Montgomery Scott LLC to assist in marketing common stock during a subscription and community offering. The agreement includes management fees and success-based compensation for the financial advisor.
🚩 Red Flags
- Dilution risk associated with the new common stock offering.
📋 Key Facts
- Agreement date: February 11, 2025
- Counterparty: Janney Montgomery Scott LLC ('Janney')
- Management fee: $50,000 (already paid)
- Success fee: $375,000 for shares sold in subscription and community offerings (net of management fee)
- Syndicated offering fee: 6.0% of aggregate dollar amount of shares sold
- Records agent fee: $50,000 ($5,000 already paid; potential $10,000 increase for regulatory/plan changes)
- Offering mechanism: Pursuant to Form S-1 Registration Statement (No. 333-283805)
Marathon Bancorp, Inc. announced that its parent mutual holding company (MHC) has adopted a Plan of Conversion and Reorganization to transition from a two-tier mutual structure to a fully public stock holding company. This involves a 'second-step' conversion where the MHC will cease to exist and its ownership interest will be offered via subscription and community offerings.
🚩 Red Flags
- Complexity of reorganization: The 'second-step' conversion involves significant structural changes and potential dilution for existing shareholders depending on the final subscription pricing.
📋 Key Facts
- The plan aims to reorganize Marathon Bank into a fully-public stock holding company structure.
- Marathon MHC currently owns approximately 57.4% of the Company's outstanding shares.
- Existing non-MHC shareholders will exchange current shares for new common stock based on an exchange ratio designed to preserve ownership percentages.
- The MHC interest (approx. 57.4%) will be offered via subscription, community offering, and potentially a syndicated community offering.
- September 30, 2023, is established as the eligibility record date for determining eligible account holders for non-transferable subscription rights.
- The conversion requires regulatory approval, depositor approval, and stockholder approval (majority of non-MHC shares).
Marathon Bancorp, Inc. held its Annual Meeting of Stockholders on November 19, 2024, where stockholders approved all submitted proposals.
📋 Key Facts
- Annual Meeting of Stockholders held on November 19, 2024.
- Stockholders elected Thomas Grimm to the Board of Directors for a three-year term (received 1,615,687 'For' votes).
- Stockholders ratified the appointment of Bonadio & Co., LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025.
- All proposals were approved by the stockholders.