Form 4: HireQuest Director Lawrence F. Hagenbuch Acquires Shares as Part of Compensation Plan

Director Lawrence F. Hagenbuch acquired 1,085 shares of HireQuest, Inc. common stock as part of his compensation for Board of Director services.

Summary

• On May 14, 2024, Lawrence F. Hagenbuch, a director of HireQuest, Inc., acquired 1,085 shares of common stock.
• The acquisition was part of his compensation for serving on the Board of Directors, in lieu of a quarterly cash retainer.
• 904 of these shares vest on August 15, 2024, and 181 shares vest on May 15, 2026.
• Following the transaction, Hagenbuch directly owns 99,284 shares of HireQuest, Inc.
• The closing price of HireQuest's common stock on Nasdaq on the date of the grant was $12.30 per share.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns interests. The sentiment is slightly positive due to the alignment of interests.

Positives

• The acquisition of shares by a director demonstrates alignment with shareholder interests.
• The use of stock as compensation can help conserve cash for the company.
• The vesting schedule encourages long-term commitment from the director.

Industry Context

Director stock ownership is a common practice to align management and shareholder interests. The specific details of the compensation plan are company-specific.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively as it aligns their interests with management.
• Employees may see it as a sign of confidence in the company's future.

Key Dates