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Filing Details

Accession Number:: 0001420506-20-000679
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-05-22 12:31:58
Reporting Period:: 2020-05-18

Accepted Time:: 2020-05-22 12:31:58
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1553326	Westbury Bancorp Inc.	WBBW	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1449556	S. Martin Friedman	C/O Fj Capital Management Llc 1313 Dolley Madison Blvd Ste 306 Mclean VA 22101		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2020-05-19	10,834	$18.30	272,728	No	4	S	Indirect	See Footnote
Common Stock	Disposition	2020-05-19	1,166	$18.30	29,355	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote

Footnotes

Martin S. Friedman (the "Reporting Person") is the managing member of FJ Capital Management LLC ("FJ Capital"), which is the managing member of and investment adviser to Financial Opportunity Fund LLC ("FOF") and investment adviser to a separately managed account ("SMA"), each of which beneficially owns shares of the common stock of the issuer (the "Shares"). As a consequence of a stock repurchase by the issuer, FOF and the SMA, in the aggregate, beneficially became owners of 10% or more of the Shares. Therefore, (a) on behalf of FOF, FJ Capital sold 10,834 Shares and (b) on behalf of the SMA, FJ Capital sold 1,166 Shares (collectively, the "Disposed Shares") in order to reduce the aggregate beneficial ownership of the Shares by FOF and the SMA to less than 10% of the issued and outstanding Shares.
The sale by FJ Capital on behalf of FOF and the SMA of the Disposed Shares was necessitated solely for the purpose of reducing the aggregate amount of the Shares controlled by FOF and the SMA as a consequence of the stock repurchase by the issuer in order to avoid FOF and the SMA being deemed to be bank holding companies pursuant to the Bank Holding Company Act of 1956, as amended, and the rules promulgated pursuant thereto by the Board of Governors of the Federal Reserve System.
Martin S. Friedman, in his capacity as Managing Member of FJ Capital, has voting and dispositive power over the Shares held by FOF and the SMA. The Reporting Person disclaims beneficial ownership of the securities referred to in this Form 4 except to the extent of the Reporting Person's pecuniary interest in such securities, and the filing of this Form 4 shall not be construed as an admission that the Reporting Person is, for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Form 4.