Sound Financial Bancorp ESOP Holds 169,647 Shares

TL;DR

**Sound Financial Bancorp's ESOP owns 169,647 shares, showing strong internal alignment.**

AI Summary

The Sound Financial Bancorp, Inc. Employee Stock Ownership Plan (ESOP) filed an amended SC 13G/A on February 9, 2024, reporting its beneficial ownership of 169,647 shares of Sound Financial Bancorp, Inc. common stock as of December 31, 2023. This represents a significant holding by an internal entity, indicating employee alignment with the company's performance. For investors, this filing shows that a substantial portion of the company's stock is held by its employees, which can be a positive sign of long-term commitment and confidence in the company's future.

Why It Matters

This filing shows that employees, through their ESOP, have a vested interest in the company's success, which can align their goals with those of external shareholders. A large employee ownership stake often suggests confidence in the company's long-term prospects.

Risk Assessment

Risk Level: low — This filing indicates stable, internal ownership, which generally reduces market volatility and external takeover risks.

Analyst Insight

An investor might view this as a positive indicator of internal confidence and stability, suggesting a potentially more stable long-term investment due to employee alignment.

Key Numbers

• 169,647 — Shares Beneficially Owned (The total number of shares of Common Stock beneficially owned by the ESOP with shared voting power as of December 31, 2023.)
• $0.01 — Par Value per Share (The stated par value of the Common Stock of Sound Financial Bancorp, Inc.)
• December 31, 2023 — Date of Event (The date as of which the beneficial ownership information was reported in the filing.)

Key Players & Entities

• Sound Financial Bancorp, Inc. (company) — the issuer of the securities
• Sound Financial Bancorp, Inc. Employee Stock Ownership Plan (company) — the reporting person and beneficial owner
• 02 Finance (company) — organization name associated with the subject company

Forward-Looking Statements

• The ESOP's continued significant ownership will likely foster employee retention and motivation. (Sound Financial Bancorp, Inc.) — high confidence, target: 2025-12-31
• The stable internal ownership by the ESOP will contribute to reduced stock price volatility compared to companies with more transient institutional ownership. (Sound Financial Bancorp, Inc.) — medium confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, Par Value $0.01 per share (Title of Class of Securiti

Filing Documents

• tm245825d1_sc13ga.htm (SC 13G/A) — 41KB
• 0001104659-24-013504.txt ( ) — 42KB

(a)

ITEM 1(a) NAME OF ISSUER: Sound Financial Bancorp, Inc.

(b)

ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 2400 3rd Avenue, Ste 150 Seattle, Washington 98121

(a)

ITEM 2(a) NAME OF PERSON FILING: Sound Financial Bancorp, Inc. Employee Stock Ownership Plan (the "Plan")

(b)

ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The business address of the Plan is: c/o Sound Financial Bancorp, Inc. 2400 3rd Avenue, Ste 150 Seattle, Washington 98121

(c)

ITEM 2(c) CITIZENSHIP: Not applicable.

(d)

ITEM 2(d) TITLE OF CLASS OF SECURITIES Common stock, par value $.01 per share (the "Common Stock").

(e)

ITEM 2(e) CUSIP NO.: 83607A100 ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b) OR 240.13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J); and (k) Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: _______________________________ Page 3 of 5 ITEM 4 The Plan holds an aggregate of 169,647 shares of Common Stock (6.7% of the outstanding shares), with respect to which the trustee of the Plan (the "Trustee") has shared voting and dispositive powers. The Trustee may be deemed to beneficially own the 169,647 shares held by the Plan. However, the Trustee expressly disclaims beneficial ownership of all such shares. Other than the shares held by the Plan, the Trustee does not beneficially own any shares of Common Stock. Pursuant to the Plan, participants are entitled to instruct the Trustee as to the voting of the

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