Stilwell Joseph → Catalyst Bancorp, Inc. CLST

We are filing this Third Amendment to announce that we have served our notice of intent to nominate Mark D. Alcott for election as a director at the Issuer's upcoming 2027 annual meeting of shareholders (the "2027 Annual Meeting"), with Corissa B. Porcelli as our alternate nominee. Copies of the Nominee Agreements (as defined below) are attached as Exhibits 2 and 3 to this Third Amendment. Additionally, we have submitted a non-binding proposal (the "Sale Proposal") seeking shareholder approval of a request that the Board shall take all necessary steps to promptly effectuate a sale of the Issuer. A copy of the Sale Proposal is attached hereto as Exhibit 5 and is incorporated herein by reference. Our purpose in acquiring shares of Common Stock of the Issuer is to profit from the appreciation in the market price of the shares of Common Stock through asserting shareholder rights. We do not believe the value of the Issuer's assets is adequately reflected in the current market price of the Issuer's Common Stock. THIS THIRD AMENDMENT MAY BE DEEMED TO BE SOLICITATION MATERIAL IN RESPECT OF THE SOLICITATION OF PROXIES BY THE 13D GROUP FROM THE ISSUER'S SHAREHOLDERS IN CONNECTION WITH THE ISSUER'S 2027 ANNUAL MEETING. SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATING TO THE SOLICITATION BY THE 13D GROUP AND OTHER PARTICIPANTS OF PROXIES FROM THE ISSUER'S SHAREHOLDERS FOR USE AT THE ISSUER'S 2027 ANNUAL MEETING OF SHAREHOLDERS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN OUR PROXY SOLICITATION. INFORMATION RELATING TO THE PARTICIPANTS IN OUR PROXY SOLICITATION IS INCLUDED IN SCHEDULE A, ATTACHED HERETO AND INCORPORATED BY REFERENCE HEREIN. Members of the 13D Group may seek to make additional purchases or sales of shares of Common Stock. Except as described in this filing, no member of the 13D Group has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D. Members of the 13D Group may, at any time and from time to time, review or reconsider their positions and formulate plans or proposals with respect thereto. Since 2000, members or affiliates of the Stilwell Group have taken an 'activist position' in 80 other publicly-traded companies. In each instance, our purpose has been to profit from the appreciation in the market price of the shares we held by asserting shareholder rights. In addition, we believed that the values of the companies' assets were not adequately reflected in the market prices of their shares. Our actions with respect to such publicly-traded companies are described in Schedule B, attached hereto and incorporated herein by reference.