Form 4: ReposiTrak Director Sells Over 20,000 Shares

ReposiTrak Director Ronald C. Hodge reported the sale of 20,547 shares of common stock in late December 2025, following an earlier acquisition of shares for board service.

Summary

• Ronald C. Hodge, a Director of ReposiTrak, Inc. (TRAK), reported changes in his beneficial ownership of common stock.
• On November 5, 2025, Hodge acquired 1,265 shares of common stock. These shares were issued in lieu of cash payment for his service on the Issuer's Board of Directors for the quarter ended September 30, 2025.
• Following this acquisition, Hodge's beneficial ownership increased to 582,416 shares.
• On December 22, 2025, Hodge sold 1,641 shares of common stock at a weighted average price of $13.1981 per share. The sales occurred in multiple transactions ranging from $13.15 to $13.1981.
• On December 23, 2025, Hodge sold an additional 18,906 shares of common stock at a weighted average price of $13.164 per share. These sales also occurred in multiple transactions, ranging from $13.00 to $13.164.
• After these transactions, Hodge's beneficial ownership decreased to 561,869 shares of common stock.
• The reported transactions were made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 5

Explanation: The filing is a factual report of insider transactions. While insider sales can sometimes be viewed negatively, the presence of a Rule 10b5-1 plan suggests a pre-arranged sale rather than an immediate reaction to new information, leading to a neutral sentiment score.

Positives

• Director Ronald C. Hodge received 1,265 shares of common stock on November 5, 2025, as compensation for his board service, indicating continued alignment with shareholder interests through equity compensation.

Negatives

• Director Ronald C. Hodge sold a total of 20,547 shares of common stock over two days in December 2025, which could be interpreted by the market as a reduction in insider confidence, despite being executed under a Rule 10b5-1 plan.

Future Outlook

NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends. Insider sales, even under a Rule 10b5-1 plan, are routinely monitored by investors for potential signals regarding management's perception of future company performance or valuation.

Related Party Transactions

• The acquisition of 1,265 shares on November 5, 2025, represents compensation for the reporting person's service on the Issuer's Board of Directors for the quarter ended September 30, 2025. This is a common form of related party transaction where a director receives equity as part of their compensation.

Stakeholder Impact

• Shareholders: May view the director's sale of shares as a potential signal, though the Rule 10b5-1 plan mitigates immediate concerns about new negative information. The reduction in insider ownership could be a point of consideration.

Key Dates

Keywords

ReposiTrak, TRAK, Form 4, insider trading, director, stock sale, beneficial ownership, equity compensation, Rule 10b5-1