Davis Mark Burton 4
4 · TILE SHOP HOLDINGS, INC. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Tile Shop (TTSH) CFO Mark Davis Forfeits 18,840 Restricted Shares
What Happened
- Mark Davis, Senior Vice President, Chief Financial Officer and Secretary of Tile Shop Holdings, Inc. (TTSH), recorded a disposition to the issuer (code D) of 18,840 shares on 2026-02-26. The shares were forfeited (price $0.00), so there were no cash proceeds from this transaction. Footnote F1 states these were unvested performance-based restricted stock awards from 2023–2025 that were forfeited because the applicable performance targets were not met.
Key Details
- Transaction date: 2026-02-26; transaction type: Disposition to issuer (D); shares: 18,840; price: $0.00; total proceeds: $0.
- Filing date: 2026-02-27 (timely filing; not indicated as late).
- Shares owned after transaction: Not specified in the Form 4 filing provided.
- Notable footnotes:
- F1: Confirms forfeiture of unvested performance-based restricted stock granted in 2023–2025 due to unmet performance targets.
- F2/F3: Describe other restricted stock holdings and vesting schedules that remain outstanding (various time- and performance-based vesting dates in 2026–2028 and performance vesting tied to release of annual financial statements; see issuer 10‑K for target details).
- F4: Indicates certain awards are fully exercisable (where applicable).
Context
- This was a forfeiture of restricted stock tied to performance conditions, not an open-market sale. Forfeitures reflect compensation outcomes (performance targets not met) and do not represent an insider selling shares for cash; they are not a direct market sentiment signal. Retail investors should treat this as an administrative/compensation outcome rather than a liquidity-driven insider sale.
Insider Transaction Report
Form 4
Davis Mark Burton
Senior VP, CFO and Secretary
Transactions
- Disposition to Issuer
Common Stock
[F1][F2][F3]2026-02-26−18,840→ 108,975 total
Holdings
- 5,400
Stock Option (Right to Buy)
[F4]Exercise: $8.50Exp: 2027-11-06→ Common Stock (5,400 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) 3,086 shares of restricted stock for which the risks of forfeiture will lapse on 3/6/26; (ii) 5,041 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) 1,642 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 5/13/26 and 5/13/27; (iv) 9,028 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 (v) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Davis 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:
- [F3](cont.) (A) 6,049 shares for which the risks of forfeiture will lapse on the date the Issuer releases its annual financial statements for the 2026 fiscal year; (B) 1,972 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 (C) 12,638 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.
Signature
/s/ Mark B. Davis|2026-02-27