Form 4: Director Nolan Boosts QRHC Stake with DSU Acquisition

Quest Resource Holding Corp Director Stephen A. Nolan acquired 1,861 deferred stock units at $1.88 per share, increasing his beneficial ownership.

Summary

• Stephen A. Nolan, a Director of Quest Resource Holding Corp (QRHC), acquired 1,861 shares of common stock in the form of Deferred Stock Units (DSUs) on November 30, 2025.
• The acquisition price for these DSUs was $1.88 per share.
• Following this transaction, Nolan beneficially owns a total of 83,886 DSUs, which include 63,657 DSUs from the 2012 Incentive Compensation Plan and 20,229 DSUs from the 2024 Incentive Compensation Plan. These DSUs will be issued as common stock upon his separation from service.
• Additionally, Nolan beneficially owns 112,585 other securities, consisting of 20,000 Restricted Stock Units (RSUs) scheduled to fully vest on August 13, 2026, and 92,585 shares of common stock, of which 5,000 shares are held jointly with his spouse.

Sentiment

Score: 6

Explanation: The acquisition of deferred stock units by a director indicates continued alignment of interests with shareholders, though the transaction size is relatively small and part of a compensation plan.

Positives

• Director Stephen A. Nolan acquired 1,861 Deferred Stock Units (DSUs) at $1.88 per share, indicating continued alignment of management interests with shareholder value.

Negatives

• No explicit negative information is contained within this Form 4 filing.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

The 83,886 Deferred Stock Units beneficially owned by Stephen A. Nolan will be issued as shares of common stock upon his separation from service with Quest Resource Holding Corp. An additional 20,000 Restricted Stock Units beneficially owned by Nolan are scheduled to fully vest on August 13, 2026.

Industry Context

This filing reports a routine insider transaction, which is a common occurrence across all publicly traded companies as part of executive compensation or personal investment strategies. It does not provide specific insights into broader industry trends for waste management or resource recovery, which is Quest Resource Holding Corp's primary sector.

Stakeholder Impact

• Shareholders: The director's acquisition of additional equity, even if part of a compensation plan, can be viewed as a positive signal of confidence in the company's future performance.

Next Steps

• Issuance of 83,886 Deferred Stock Units as common stock upon Stephen A. Nolan's separation from service.
• Vesting of 20,000 Restricted Stock Units on August 13, 2026.

Key Dates

Recommendation

The director's acquisition of deferred stock units is a minor positive signal, indicating continued confidence. However, this single, relatively small transaction, which appears to be part of a compensation plan, does not provide sufficient new information to alter a broader investment thesis or warrant a change from a 'hold' recommendation.

Keywords

Quest Resource Holding Corp, QRHC, Form 4, Insider Transaction, Director Stock Acquisition, Deferred Stock Units, DSU, Common Stock, Stephen A. Nolan, Beneficial Ownership