Lolmaugh Cabell 4
4 · TILE SHOP HOLDINGS, INC. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Tile Shop (TTSH) CEO Lolmaugh Forfeits 32,015 Shares
What Happened
Lolmaugh Cabell, CEO of Tile Shop Holdings, reported a disposition to the issuer of 32,015 shares on 2026-02-26. The shares were recorded at $0.00 per share (total proceeds $0), indicating these were forfeited unvested restricted shares rather than a market sale. Footnote F1 states the forfeiture resulted from applicable performance targets for awards granted in 2023–2025 not being achieved.
Key Details
- Transaction date: 2026-02-26; Filing date: 2026-02-27 (timely Form 4 filing).
- Disposition: 32,015 shares disposed to issuer at $0.00 per share (forfeiture).
- Shares owned after transaction: not specified in the provided filing.
- Relevant footnotes:
- F1: Forfeiture of unvested performance-based restricted stock (2023–2025 grants) due to unmet performance targets.
- F2: Lists other time-based restricted stock tranches remaining (vesting schedules through 2026–2028).
- F3: Lists remaining performance-based restricted stock that vests only if performance targets and continued employment conditions are met (vesting tied to 2026–2027 financial statements).
- F4: Notes certain awards are fully exercisable (not directly tied to this forfeiture).
- Transaction type: Disposition to issuer (forfeiture), not an open-market sale or purchase.
Context
This filing reflects an administrative forfeiture of unvested, performance-based restricted stock (no cash received) after performance conditions were not met—different from an insider selling shares for liquidity or trading on belief about the stock. Remaining restricted awards and vesting schedules are detailed in the footnotes and the company’s Form 10-K for year ended 12/31/2025.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2][F3]2026-02-26−32,015→ 197,814 total
- 26,900
Stock Option (Right to Buy)
[F4]Exercise: $8.50Exp: 2027-11-06→ Common Stock (26,900 underlying) - 56,000
Stock Option (Right to Buy)
[F4]Exercise: $5.55Exp: 2028-02-22→ Common Stock (56,000 underlying) - 97,067
Stock Option (Right to Buy)
[F4]Exercise: $6.26Exp: 2029-02-20→ Common Stock (97,067 underlying)
Footnotes (4)
- [F1]Represents forfeiture of unvested performance-based restricted stock granted in 2023, 2024 and 2025 as a result of the applicable performance targets not being achieved.
- [F2]Includes (i) 6,173 shares of restricted stock for which the risks of forfeiture will lapse on 3/6/26; (ii) 10,083 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/4/26 and 3/4/27; (iii) 13,542 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/3/26, 3/3/27 and 3/3/28; and
- [F3](iv) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Lolmaugh remaining in continuous employment with the Issuer through December 31 of the year preceding the applicable vesting date and the Issuer achieving its performance target for each respective year: (A) 12,099 shares for which the risks of forfeiture will lapse on the date the Issuer releases its annual financial statements for the 2026 fiscal year; and (B) 10,833 shares for which the risks of forfeiture will lapse as to 30% and 40% of the initial number of shares granted on each of the dates the Issuer releases its annual financial statements for the 2026 and 2027 fiscal years, respectively. The Issuer's Form 10-K for the year ended December 31, 2025 contains additional information regarding the applicable performance targets.
- [F4]Fully exercisable.