Form 4: Director Nolan Acquires QRHC Stock via DSU Grant

Quest Resource Holding Corp Director Stephen A. Nolan reported the scheduled acquisition of 1,627 common shares through a deferred stock unit grant, increasing his beneficial ownership.

Summary

• Stephen A. Nolan, a Director of Quest Resource Holding Corp (QRHC), reported a scheduled change in his beneficial ownership.
• Nolan is scheduled to acquire 1,627 shares of common stock on January 31, 2026, at a price of $2.15 per share.
• These acquired shares represent Deferred Stock Units (DSUs) granted under the Issuer's 2024 Incentive Compensation Plan, which will be issued upon his separation from service.
• Following this scheduled transaction, Nolan will beneficially own 87,394 shares directly, comprising 63,657 DSUs from the 2012 plan and 23,737 DSUs from the 2024 plan, both issued upon separation from service.
• He will also beneficially own 112,585 shares directly, which includes 20,000 Restricted Stock Units (RSUs) scheduled to fully vest on August 13, 2026, and 92,585 shares of common stock, with 5,000 held jointly with his spouse.
• The transaction is made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a director increasing their beneficial ownership, even through compensation, generally reflects confidence in the company's long-term value, especially when executed under a 10b5-1 plan.

Positives

• Director Stephen A. Nolan is scheduled to increase his beneficial ownership in Quest Resource Holding Corp by acquiring 1,627 shares through a DSU grant.
• The transaction is executed under a Rule 10b5-1(c) plan, indicating a pre-planned acquisition strategy.

Future Outlook

The filing outlines a future acquisition of 1,627 shares on January 31, 2026, through a DSU grant. It also indicates the future issuance of DSUs upon the reporting person's separation from service and the full vesting of 20,000 RSUs on August 13, 2026.

Industry Context

StockSavvy.ai notes that insider transactions, particularly acquisitions, can signal management's confidence in the company's future prospects, aligning their interests with shareholders. The use of a 10b5-1 plan suggests a structured approach to equity compensation and ownership changes, which is a common practice in corporate governance.

Comparison to Industry Standards

• Insider purchases, especially by directors, are generally viewed positively as they indicate belief in the company's valuation and future performance, similar to recent director purchases observed at companies like Waste Management (WM) or Republic Services (RSG) in the waste management sector, though the scale of this transaction is smaller.
• The grant of DSUs and RSUs is a standard form of equity compensation for directors in many publicly traded companies, comparable to practices at peers in the environmental services industry.

Related Party Transactions

• The acquisition of deferred stock units by a director is a related party transaction as part of executive compensation.

Stakeholder Impact

• Shareholders: Increased alignment of a director's interests with shareholders through increased beneficial ownership.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Next Steps

• Issuance of shares underlying DSUs upon Stephen A. Nolan's separation from service with Quest Resource Holding Corp.
• Full vesting of 20,000 RSUs on August 13, 2026.

Key Dates

Recommendation

This Form 4 reports a routine grant of equity compensation to a director under a pre-arranged plan. While it shows continued insider ownership and alignment, it does not present new fundamental information that would warrant a change in investment thesis or a strong buy/sell recommendation. It's a neutral to slightly positive data point for existing holders.

Keywords

Quest Resource Holding Corp, QRHC, Stephen A. Nolan, Director, Insider Transaction, Form 4, Beneficial Ownership, Deferred Stock Units, DSU, Restricted Stock Units, RSU, Equity Compensation, Rule 10b5-1