Form 4: RGP Director-Affiliated Funds Boost Stake

Funds affiliated with a director of Resources Connection, Inc. (RGP) have increased their beneficial ownership through recent common stock purchases.

Summary

• CG Core Value Fund, L.P., along with its general partner CG Core Value GP LLC, investment advisor Circumference Group LLC, and managing member Circumference Group Holdings LLC, reported acquiring additional shares of Resources Connection, Inc. (RGP) common stock.
• On November 11, 2025, 90,000 shares of common stock were purchased at a weighted average price of $4.52 per share, with prices ranging from $4.42 to $4.58.
• On November 12, 2025, an additional 10,000 shares of common stock were purchased at a weighted average price of $4.53 per share, with prices ranging from $4.50 to $4.57.
• Following these transactions, the reporting persons beneficially own 1,389,243 shares of RGP common stock.
• Jeffery H. Fox, a director of Resources Connection, Inc., is deemed a representative of the Fund, leading to the reporting persons being considered 'director by deputization' for Section 16 purposes.
• The reporting persons disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by director-affiliated funds, indicating confidence in the company's valuation and future prospects.

Positives

• Significant insider buying by director-affiliated funds indicates confidence in the company's future prospects.
• The purchases were made at weighted average prices of $4.52 and $4.53, suggesting a belief that the stock is undervalued at these levels.

Management Comments

• The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.
• Each of the Reporting Persons disclaims beneficial ownership of the securities reported hereon, except to the extent of its pecuniary interest therein.

Industry Context

This insider buying activity by director-affiliated funds for Resources Connection, Inc. (RGP) suggests a positive internal view of the company's valuation or future performance, potentially signaling strength in the professional services or consulting sector, where RGP operates.

Related Party Transactions

• Jeffery H. Fox, a director of Resources Connection, Inc., is also the owner of Circumference Group Holdings LLC, which is the managing member of Circumference Group LLC and the sole owner of CG Core Value GP LLC, linking the director directly to the purchasing entities.

Stakeholder Impact

• Shareholders may view this insider buying as a positive indicator of future stock performance and management confidence.
• The increased stake by director-affiliated funds could strengthen alignment between management/significant shareholders and other investors.

Key Dates

Recommendation

The significant insider buying by director-affiliated funds, including entities linked to a board member, suggests strong internal confidence in Resources Connection, Inc.'s valuation and future outlook. Such purchases often precede positive company developments or reflect a belief that the stock is currently undervalued, making it a compelling 'buy' signal for seasoned investors.

Keywords

Resources Connection Inc, RGP, Insider Buying, Form 4, Stock Purchase, Director by Deputization, CG Core Value Fund, Circumference Group