Nolan Stephen A 4

What Happened
Stephen A. Nolan, a director of Quest Resource Holding Corp (QRHC), received an award of 2,941 deferred stock units (DSUs) on March 31, 2026. The DSUs were recorded at an acquisition value of $1.19 per share, for a total grant value of $3,500. This transaction is an award/grant (code A), not an open-market purchase or sale; the underlying shares will be issued only upon Nolan's separation from service.

Key Details

• Transaction date and filing: Grant dated 2026-03-31; Form 4 filed 2026-04-02 (timely).
• Grant specifics: 2,941 DSUs @ $1.19 each = $3,500 total.
• Holdings after transaction (per filing footnotes): includes 63,059 DSUs under the 2012 plan and 29,264 DSUs under the 2024 plan; also 20,000 RSUs scheduled to vest on August 13, 2026, and 92,585 shares of common stock beneficially owned (5,000 held jointly).
• Footnote on issuance: DSUs are deferred — the underlying common shares will be issued upon the reporting person's separation from service (per footnote F1).
• Transaction type: A = award/grant (no immediate cash outlay or market purchase).

Context
Grants of DSUs are commonly used for director compensation and do not represent an immediate transfer of tradable shares; they are deferred and typically convert to stock when the director leaves the company. Such awards are routine and should be viewed differently than open-market purchases (which can signal buying interest) or sales (which may reduce insider holdings).