Davis Mark Burton 4
4 · TILE SHOP HOLDINGS, INC. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Tile Shop (TTSH) CFO Mark Burton Receives 80,000-Share Award
What Happened
Mark Burton, Senior Vice President, Chief Financial Officer and Secretary of Tile Shop Holdings, Inc. (TTSH), was granted 80,000 derivative shares (award acquisition) on 2026-03-02. The grant was reported on a Form 4 filed 2026-03-03. The shares were issued at $0.00 (no cash paid) and are reported as derivative awards rather than an open-market purchase or sale.
Key Details
- Transaction date: 2026-03-02; Form 4 filed: 2026-03-03 (timely filing).
- Transaction type/code: Award/Acquisition (A); price reported $0.00.
- Shares involved: 80,000 derivative shares (restricted/performance-style awards).
- Shares owned after transaction: the filing does not state a single total; footnotes break out existing restricted/performance holdings (see below).
- Notable footnotes from the filing:
- F1: Breakdown of existing restricted stock amounts that will vest on various dates (3/6/26; installments on 3/4/26 & 3/4/27; installments on 5/13/26 & 5/13/27; installments on 3/3/26, 3/3/27 & 3/3/28).
- F2: Performance-based restricted shares (6,049; 1,972; and 12,638) subject to continued employment and achievement of company performance targets tied to annual financial statements (details in the issuer’s 2025 Form 10-K).
- F3: Certain options (separate from this grant) vest in three equal installments on 3/2/2027, 3/2/2028 and 3/2/2029, subject to employment.
- F4: Some options described elsewhere are fully exercisable.
- Filing timeliness: filed within the required Form 4 window (not reported late).
Context
This was an equity award (not a cash purchase or sale). Awards like this are typically subject to time-based vesting and/or performance conditions — they do not necessarily indicate an immediate change in market exposure because the shares may be forfeitable until vesting conditions are met. Performance-based tranches here are tied to the company’s annual financial results for 2026 and 2027 (see the company’s 2025 Form 10-K for target details).
Insider Transaction Report
- Award
Stock Option (Right to Buy)
[F3]2026-03-02+80,000→ 80,000 totalExercise: $3.41Exp: 2036-03-02→ Common Stock (80,000 underlying)
- 108,975
Common Stock
[F1][F2] - 5,400
Stock Option (Right to Buy)
[F4]Exercise: $8.50Exp: 2027-11-06→ Common Stock (5,400 underlying)
Footnotes (4)
- [F1]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:
- [F2](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.
- [F3]The options vest in three substantially equal installments on each of 3/2/2027, 3/2/2028 and 3/2/2029, subject to continuous employment as of the applicable vesting date.
- [F4]Fully exercisable.