RAFFAELI C CATHLEEN 4

What Happened

• Director Cathleen Raffaeli was granted 10,385 restricted stock units (RSUs) on May 12, 2026 under the RE/MAX Holdings, Inc. 2023 Omnibus Incentive Plan. The Form 4 reports the acquisition price as $0.00 (award), so there was no cash purchase or sale recorded. The RSUs are scheduled to vest on May 1, 2027.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (appears filed within the typical two-business-day window).
• Transaction type/code: Award/Grant (A).
• Amount & price: 10,385 RSUs @ $0.00 (award); total cash value not reported on the Form 4.
• Vesting: Scheduled to vest on May 1, 2027 (Footnote F1).
• Shares owned after transaction: The provided excerpt notes these are 10,385 unvested RSUs (Footnote F2); total beneficial ownership after the grant is not specified in the provided data.
• Filing notes: No 10b5-1, tax-withholding sale, or other special conditions reported in the supplied footnotes.

Context

• RSUs are a common equity-compensation award that convert to shares (or cash equivalent) only when they vest. Because these units are unvested, this grant does not represent an immediate market purchase or sale by the director and should be viewed as compensation/retention rather than a direct insider buy signal.