Form 4: HireQuest Director Jack A. Olmstead Acquires 1,007 Shares of Common Stock

Director Jack A. Olmstead acquired 1,007 shares of HireQuest, Inc. common stock as compensation for board services.

Summary

• On February 13, 2025, Jack A. Olmstead, a director of HireQuest, Inc., acquired 1,007 shares of common stock.
• The acquisition was a result of restricted stock awarded for Board of Director services, in lieu of a quarterly cash retainer.
• 840 shares vest on May 15, 2025, and 168 shares vest on February 13, 2027.
• Following the transaction, Olmstead beneficially owns 68,833 shares of HireQuest, Inc.
• The closing price of HireQuest's common stock on the grant date was $13.40 per share.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard compensation practice. The director increasing their stake is mildly positive.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The use of stock awards in lieu of cash retainers can conserve company cash.

Industry Context

Director stock ownership is common and is used to align the interests of directors with those of shareholders. Stock grants are a typical form of compensation for board members.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash retainers, stock options, and restricted stock units.
• The specific mix varies depending on the size and stage of the company, as well as industry norms.
• Comparing HireQuest's director compensation structure to similar staffing companies would provide a more detailed benchmark.

Stakeholder Impact

• The stock award aligns the director's interests with those of shareholders.
• The use of stock instead of cash may be viewed positively by creditors and other stakeholders.

Key Dates

Keywords

HireQuest, Director, Olmstead, Stock Acquisition, Common Stock, Beneficial Ownership, Restricted Stock, Board Services, Compensation