Lolmaugh Cabell 4

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.