Form 4: RE/MAX Director Liniger Reports Stock Transfers

RE/MAX Holdings Director and 10% owner David L. Liniger reported several non-derivative stock transactions, including gifts and an estate acquisition, alongside significant indirect holdings of convertible units.

Summary

• David L. Liniger, a Director and 10% owner of RE/MAX Holdings, Inc., reported multiple transactions involving Class A Common Stock.
• On May 6, 2025, Liniger gifted 353,711 shares of Class A Common Stock for no consideration, transferring them to the Amended and Restated ADAOS Trust.
• On December 26, 2025, Liniger acquired 1,000 shares of Class A Common Stock as a beneficiary of a relative's estate, also for no consideration.
• On January 23, 2026, Liniger gifted another 1,000 shares of Class A Common Stock for no consideration, transferring them to the Amended and Restated ADAOS Trust.
• Following these transactions, Liniger directly owns 0 shares of Class A Common Stock and indirectly owns 354,711 shares through the Amended and Restated ADAOS Trust.
• Liniger also indirectly holds 12,559,600 Common Units of RMCO, LLC through RIHI, Inc., which are redeemable for Class A Common Stock on a one-for-one basis or a cash equivalent.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily detailing routine insider transactions related to estate planning and an inheritance, rather than reflecting a change in the company's operational or financial outlook.

Positives

• Acquisition of 1,000 shares of Class A Common Stock through an estate, temporarily increasing direct beneficial ownership.

Negatives

• Gifting of 354,711 shares of Class A Common Stock for no consideration, reducing direct beneficial ownership.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

StockSavvy.ai notes that insider transaction reports like this Form 4 provide transparency into the holdings and activities of key executives and major shareholders, which can sometimes signal management's confidence or estate planning activities, though these specific transactions appear to be primarily for estate planning and not market-driven sales.

Related Party Transactions

• Transfer of shares to the Amended and Restated ADAOS Trust.
• Indirect ownership of RMCO, LLC Common Units through RIHI, Inc., where David Liniger and his wife Gail Liniger have dispositive, voting, and investment control.

Stakeholder Impact

• Shareholders: Provides transparency into the holdings of a significant insider, but the transactions themselves (gifts, estate acquisition) are not indicative of operational performance or strategic shifts.

Key Dates

Keywords

RE/MAX Holdings, RMAX, David Liniger, insider transaction, Form 4, stock transfer, beneficial ownership, common stock, RMCO LLC, director, 10% owner