SCHEDULE: EXP World Holdings: Trustee Change for Major Shareholder

Frank Selden assumes trusteeship of the Penny L Sanford TTEE Gratitude 2022 Trust, a significant shareholder in EXP World Holdings, following Penny Sanford's passing.

Summary

• This Schedule 13D Amendment No. 1 reports a change in the trustee for the Penny L Sanford TTEE Gratitude 2022 Trust, a beneficial owner of EXP WORLD HOLDINGS, INC. common stock.
• Penny Sanford, the previous Trustee, passed away, leading to the appointment of Frank Selden as the new Trustee.
• The Trust beneficially owns 26,731,114 shares of EXP WORLD HOLDINGS, INC. common stock.
• This ownership represents 16.51% of the issuer's outstanding common stock, based on 161,893,096 shares issued and outstanding as of January 31, 2026.
• Frank Selden now holds shared voting and dispositive power over these 26,731,114 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It reports a procedural change in the trustee of a significant shareholder's trust and does not contain information that would inherently alter the company's operational or financial outlook.

Industry Context

StockSavvy.ai notes that this filing is a routine disclosure of a change in beneficial ownership due to a personal event, rather than a strategic corporate or industry-specific development. It does not inherently reflect on broader industry trends or competitive dynamics for EXP World Holdings.

Stakeholder Impact

• Shareholders: The beneficial ownership of a significant block of shares (16.51%) remains with the Penny L Sanford TTEE Gratitude 2022 Trust, but control over voting and dispositive power has transferred to a new individual, Frank Selden. This change in trustee could potentially lead to a different approach to shareholder engagement or voting decisions in the future, though no such intent is indicated.

Key Dates

Keywords

EXP World Holdings, Schedule 13D, Beneficial Ownership, Trustee Change, Common Stock, Shareholder Update, Frank Selden, Penny Sanford