Form 4: HireQuest Director Lawrence F. Hagenbuch Receives Stock Award for Board Service

Director Lawrence F. Hagenbuch receives 989 shares of HireQuest, Inc. stock as compensation for board services.

Summary

• Lawrence F. Hagenbuch, a director at HireQuest, Inc., acquired 989 shares of common stock on August 13, 2024.
• The shares were awarded as compensation for his services on the Board of Directors, in lieu of a quarterly cash retainer.
• 824 of these shares vest on November 13, 2024, and 165 shares vest on August 13, 2026.
• Following the transaction, Hagenbuch directly owns 108,273 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 sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns interests with shareholders.

Positives

• Director compensation aligns with company performance and incentivizes board members.
• The stock award reflects a continued commitment from the director to the company's success.

Industry Context

Stock awards to directors are a common practice in corporate governance to align the interests of board members with those of shareholders. This practice is prevalent across various industries and company sizes.

Comparison to Industry Standards

• Stock awards for board members are a common practice, often benchmarked against peer companies in the staffing and recruiting industry.
• Companies like Robert Half International (RHI) and ManpowerGroup (MAN) also utilize stock-based compensation for their directors.
• The specific amount and vesting schedule can vary based on company size, performance, and industry standards.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns director interests with company performance.
• Employees may see it as a sign of the company's commitment to its leadership.

Key Dates