Robert W. Youman - Jan 31, 2022 Form 4 Insider Report for Finward Bancorp (FNWD)

Role: Director
Signature: Robert W. Youman
Stock symbol: FNWD
Transactions as of: Jan 31, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/1/2022, 03:53 PM
Next filing: May 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FNWD	Common Stock	Award		+16.3K	+406.4%		20.3K	Jan 31, 2022	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This common stock was received in exchange for a portion of the Reporting Person's shares of Royal Financial, Inc. ("Royal Financial") common stock in connection with the merger of Royal Financial with and into Finward Bancorp ("Finward") (the "Merger"). The Reporting Person received cash for the remaining portion of the Reporting Person's Royal Financial common stock in the Merger. The exchange ratio in the Merger was 0.4609 shares of Finward common stock for each share of Royal Financial common stock (with cash in lieu paid for fractional shares). The last closing price of Royal Financial's common stock before the effective time of the Merger was $20.50 per share, and the last closing price of Finward's common stock before the effective time of the Merger was $47.75 per share.

Content

This common stock was received in exchange for a portion of the Reporting Person's shares of Royal Financial, Inc. ("Royal Financial") common stock in connection with the merger of Royal Financial with and into Finward Bancorp ("Finward") (the "Merger"). The Reporting Person received cash for the remaining portion of the Reporting Person's Royal Financial common stock in the Merger. The exchange ratio in the Merger was 0.4609 shares of Finward common stock for each share of Royal Financial common stock (with cash in lieu paid for fractional shares). The last closing price of Royal Financial's common stock before the effective time of the Merger was $20.50 per share, and the last closing price of Finward's common stock before the effective time of the Merger was $47.75 per share.