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

Kathleen Shanahan, a director at HireQuest, Inc., acquired 1,057 shares of restricted stock as compensation for her board service.

Summary

• On February 26, 2024, Kathleen Shanahan, a director of HireQuest, Inc., acquired 1,057 shares of common stock.
• These shares were awarded as restricted stock for her services on the Board of Directors, representing compensation in lieu of a quarterly cash retainer.
• 881 of these shares will vest on May 26, 2024, and 176 shares will vest on February 26, 2026.
• Following the transaction, Ms. Shanahan directly owns 58,962 shares of HireQuest, Inc.
• The closing price of HireQuest's common stock on Nasdaq on the grant date was $13.34 per share.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stable corporate governance. The sentiment is neutral to slightly positive.

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

Stock awards to directors are a common practice in corporate governance to align their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages vary widely across industries and company sizes.
• Stock awards are a typical component of director compensation, often used in conjunction with cash retainers and meeting fees.
• Comparing HireQuest's director compensation to similar staffing companies would provide a more detailed benchmark.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders, potentially leading to better decision-making.
• The award does not have a material impact on employees, customers, suppliers, or creditors.

Key Dates