Form 4: HireQuest Director Kathleen M. Shanahan Receives Stock Award for Board Service

Kathleen M. Shanahan, a director at HireQuest, Inc., acquired 1,044 shares of restricted stock on August 13, 2024, as compensation for her board service.

Summary

• On August 13, 2024, Kathleen M. Shanahan, a director of HireQuest, Inc., received 1,044 shares of restricted stock.
• This stock award is compensation for her services on the Board of Directors, in lieu of a quarterly cash retainer.
• 870 of these shares will vest on November 13, 2024, and the remaining 174 shares will vest on August 13, 2026.
• Following this transaction, Ms. Shanahan beneficially owns 69,152 shares of HireQuest, Inc.
• The closing price of HireQuest's common stock on Nasdaq on the grant date was $13.50 per share.

Sentiment

Score: 7

Explanation: The document reflects a standard director compensation practice, which is generally viewed neutrally to positively as it aligns director and shareholder interests. The sentiment is moderately positive due to the alignment of interests.

Positives

• The stock award aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Industry Context

Director compensation through stock awards is a common practice in publicly traded companies to align the interests of board members with shareholders.

Comparison to Industry Standards

• Stock awards for board members are a typical form of compensation, often used by companies similar to HireQuest to attract and retain qualified directors.
• The amount and vesting schedule of the award would need to be compared to peer companies to determine if it is within industry norms.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns the director's interests with the company's long-term success.
• The director benefits from the stock award as part of their compensation for board service.

Key Dates