Form 4: QRHC Director Boosts Stake with RSU Vesting & New Grant

Quest Resource Holding Corp Director Glenn Culpepper increased his beneficial ownership through the vesting of restricted stock units and a new RSU grant.

Summary

• Director Glenn Culpepper acquired 10,409 shares of Quest Resource Holding Corp common stock on August 12, 2025, resulting from the full vesting of restricted stock units (RSUs) granted on August 12, 2024.
• On August 13, 2025, Mr. Culpepper was granted an additional 20,000 restricted stock units (RSUs) which are scheduled to fully vest on August 13, 2026.
• Following these transactions, Mr. Culpepper's beneficial ownership includes 46,585 shares of common stock, which comprises 20,000 RSUs scheduled to vest in three equal installments on August 13, 2026, August 13, 2027, and August 13, 2028, plus 26,585 directly owned shares.
• Additionally, Mr. Culpepper holds 21,629 deferred stock units (DSUs), with 15,000 from the 2012 Incentive Compensation Plan and 6,629 from the 2024 plan, which will be issued upon his separation from service.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The director's increased beneficial ownership through RSU vesting and a new grant signals continued commitment and alignment with the company's performance, which can be viewed favorably by investors. It's a routine compensation event, but the accumulation of shares by an insider is generally a positive signal.

Positives

• Director Glenn Culpepper's beneficial ownership increased through the vesting of 10,409 RSUs into common stock, demonstrating continued equity accumulation.
• The grant of an additional 20,000 RSUs indicates ongoing compensation and alignment of interests between the director and shareholders.

Future Outlook

The filing indicates future vesting events for the newly granted 20,000 restricted stock units, with full vesting scheduled for August 13, 2026, and subsequent installments through August 13, 2028. Deferred stock units will be issued upon the reporting person's separation from service.

Industry Context

This filing represents a routine insider transaction related to equity compensation, common across publicly traded companies. It reflects the standard practice of aligning executive and director incentives with shareholder value through stock-based awards.

Comparison to Industry Standards

• The structure of RSU grants and vesting schedules is a common form of equity compensation for directors in the U.S. market, aligning with typical corporate governance practices.
• The one-for-one conversion of RSUs to common stock upon vesting is standard for such awards.

Related Party Transactions

• The transactions involve the acquisition of common stock and the grant of restricted stock units to a director of the company, which are considered related party transactions as part of executive compensation.

Stakeholder Impact

• Shareholders: The increase in a director's beneficial ownership through equity compensation can be seen as a positive signal, indicating management's continued vested interest in the company's long-term performance and alignment with shareholder interests.

Next Steps

• The 20,000 RSUs granted on August 13, 2025, are scheduled to fully vest on August 13, 2026.
• The 20,000 RSUs included in beneficial ownership are scheduled to vest in three equal installments on August 13, 2026, August 13, 2027, and August 13, 2028.
• The 21,629 deferred stock units will be issued upon Glenn Culpepper's separation from service with the Issuer.

Key Dates

Recommendation

While the increase in insider ownership is a positive signal, a Form 4 filing primarily details routine compensation events rather than new strategic or financial performance data. It reinforces insider confidence but does not provide sufficient new information to warrant a change in investment recommendation on its own. Investors should consider this in the broader context of the company's financial performance and market conditions.

Keywords

Quest Resource Holding Corp, QRHC, Glenn Culpepper, Director, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Equity Compensation, Beneficial Ownership, Deferred Stock Units