Form 4: HireQuest Director Lawrence F. Hagenbuch Acquires 1,001 Shares of Common Stock

Director Lawrence F. Hagenbuch acquired 1,001 shares of HireQuest, Inc. common stock as compensation for board services.

Summary

• On February 26, 2024, Lawrence F. Hagenbuch, a director of HireQuest, Inc., acquired 1,001 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.
• 834 shares will vest on May 26, 2024, and 167 shares will vest on February 26, 2026.
• Following the transaction, Hagenbuch directly owns 98,199 shares of HireQuest, Inc. common stock.
• 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 indicates a routine transaction of stock awards to a director, which is generally viewed neutrally to positively as it aligns interests. The sentiment is slightly positive due to the director increasing their stake in the company.

Positives

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

Industry Context

Director stock ownership is common and aligns director interests with shareholders.

Comparison to Industry Standards

• Stock awards are a typical form of compensation for board members across various industries.
• The vesting schedule of the restricted stock is fairly standard, with portions vesting over a period of time.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
• The stock award is a form of compensation for the director.

Key Dates