Marquardt David 4

What Happened

• David Marquardt, CFO and Chief Accounting Officer of EquipmentShare (EQPT), made an open-market purchase of 4,285 shares on Jan 26, 2026 at $24.50 per share, costing about $104,983. On the same date he had paired "other" transactions reflecting a 60,000-share reclassification (60,000 shares disposed and 60,000 shares acquired) related to a conversion of Common Stock into Class A Common Stock.

Key Details

• Transaction date: 2026-01-26 (Form 4 filed 2026-01-27).
• Open-market purchase: 4,285 shares @ $24.50 = $104,983.
• Reclassification: 60,000 shares reclassified from Common Stock to Class A Common Stock (reported as simultaneous J-code disposition and acquisition; $0 reported).
• Footnotes: F1 — reclassification under Rule 16b-7 (one-for-one conversion to Class A); F2 — directed share purchase program related to the IPO (applies to previously acquired shares); F3 — stock options held by the reporting person are fully vested.
• Shares owned after the transactions: not specified in the provided summary/transactions.
• Filing timeliness: Form filed the next day (Jan 27, 2026); appears timely.

Context

• The open-market buy is a straightforward purchase (a direct cash purchase, P-code), which retail investors often view as a stronger signal than routine disclosures of awards or reclassifications. The 60,000-share entries are an administrative reclassification (not an economic sale) converting Common Stock into Class A Common Stock and did not change share counts or option exercise prices. The reporting person also holds fully vested options per the filing.