X0306 4 2015-03-04 0 0001569994 Waterstone Financial, Inc. WSBF 0001385498 Arndt Rebecca M 11200 W PLANK COURT WAUWATOSA WI 53226 0 1 0 0 Senior Vice President Common Stock 2015-03-04 4 A 0 17500 0.00 A 42072 D Common Stock 2014-12-31 4 A 0 3415 13.15 A 17249 I By ESOP Common Stock 20028 I By 401(k) plan Employee Stock Options 1.73 2014-01-22 2022-01-04 Common Stock 8778 13168 D Stock Option 16.11 2014-01-22 2017-01-05 Common Stock 27432 27432 D Stock Options 12.75 2015-03-04 4 A 0 15000 0.00 A 2016-03-04 2025-03-04 Common Stock 15000 15000 D Represents shares of restricted stock that vest at a rate of 20% per year commencing on March 6, 2015. Represents stock options that vest at a rate of 20% per year commencing on March 4, 2016. /s/ William F Bruss, attorney in fact 2015-03-05