A director at Fifth District Bancorp Inc. sold 9,000 common shares valued at $163,774 in transactions executed on August 24 and 25, according to a regulatory filing. The sales were conducted at per-share prices ranging from $18.19 to $18.35, near the company’s 52-week high of $18.50.
Chris M. Rittiner, a director of the NASDAQ-listed bank, reduced his direct stake in the company to 27,118 shares following the disposals. The remaining holdings include restricted stock units set to vest at a rate of 20% annually beginning September 16, 2026. Rittiner’s spouse holds an additional 25,000 shares indirectly, while he retains 27,797 stock options with a strike price of $13.94, also subject to the same vesting schedule.
The transactions occurred as Fifth District Bancorp’s stock posted a 31% gain over the past 12 months, trading near recent peaks. InvestingPro data cited in the filing described the shares as currently overvalued, though no rationale for the sales was provided in the disclosure.
