I would remove the bark to see what's under it first. After 5 years with the bark on there could be some surprises. I think After removing the bark I'd saw them in half lengthwise, giving you 2 staves if possible. Small diameter saplings can be difficult to split and elm is always difficult.
Be sure the saplings grew straight by studying the bark. If the bark spirals along the sapling the wood under will be twisted.