Vest Richard L II 4
4 · HOOKER FURNISHINGS Corp · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Hooker Furnishings (HOFT) President Richard L. Vest II Receives RSU Award
What Happened
Richard L. Vest II, President of Domestic Upholstery & Hospitality for Hooker Furnishings (HOFT), was awarded 4,454 restricted stock units (RSUs) on July 1, 2026. The RSUs were granted at $0.00 (derivative award) and represent a contingent right to receive one share of HOFT common stock per RSU if vesting conditions are met.
Key Details
- Transaction date: 2026-07-01; Form 4 filed 2026-07-02 (timely). Transaction code: A (award/grant).
- Award size: 4,454 RSUs; acquisition price reported $0.00 (derivative grant).
- Vesting: RSUs vest ratably — one-third on each of July 1, 2027; July 1, 2028; and July 1, 2029 (F2).
- Payment: At the Compensation Committee’s discretion, RSUs may be settled in shares, cash (based on fair market value at payment), or a combination (F3).
- Footnote: Each RSU equals the contingent right to one share upon vesting (F1).
- Shares owned after the grant: not specified in the provided filing.
Context
RSU grants are a common form of executive compensation and are not an open-market purchase or sale. They are derivative awards that convert to equity (or cash) only if and when they vest; they do not indicate an immediate buy/sell of stock. This grant will dilute existing shares if settled in stock, but may alternatively be settled in cash per company policy.
Insider Transaction Report
- Award
Restricted Stock Unit (RSU)
[F1][F2][F3]2026-07-01+4,454→ 4,454 total→ Common Stock (4,454 underlying)
- 8,641
Common Stock
Footnotes (3)
- [F1]Each RSU represents a contingent right to receive one share of HOFT common stock.
- [F2]Each RSU grant vests ratably by entitling the executive officer to receive one third of the grant if he remains continuously employed with the Company through the end of each service period that ends July 1, 2027, July 1, 2028, and July 1, 2029, respectively.
- [F3]At the direction of the issuer's Compensation Committee, the RSUs may be paid in shares of HOFT common stock, cash (based on the fair market value of a share of HOFT common stock on the date payment is made) or both.