From: Roger Mandery [Roger.Mandery@firstmutual.com]
Sent: Saturday, April 27, 2002 1:50 PM
To: Rule-comments@sec.gov
Cc: Phyllis Easterlin; Linda Lamarre; Kari Stenslie; John Valaas
Subject: File No S7-09-02

I would like to express my objection to the proposed rule change regarding the Form 8-K 
disclosure of certain management transactions. We are a small bank with only 148 employees, 
and five million shares outstanding. This new rule would place an undue burden on a company 
as small as ours.

I urge you not to adopt this rule.

Roger A. Mandery
CFO
First Mutual Bancshares