Davis Mark Burton 4

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).