Lolmaugh Cabell 4
4 · TILE SHOP HOLDINGS, INC. · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Tile Shop (TTSH) CEO Lolmaugh Cabell Withholds 2,217 Shares
What Happened
Lolmaugh Cabell, CEO of Tile Shop Holdings (TTSH), directed the company to withhold 2,217 shares to satisfy his tax withholding obligation tied to the vesting of a previously reported restricted stock award. The withheld shares were valued at $3.34 each for a total of approximately $7,405. This was a tax-withholding disposition (not an open-market sale).
Key Details
- Transaction date and price: March 6, 2026 — 2,217 shares at $3.34 per share (total ~$7,405).
- Transaction type/code: F — shares withheld by issuer to satisfy tax withholding on vesting.
- Shares owned after transaction: The Form 4 does not state total post-transaction beneficial ownership.
- Notable footnotes from the filing:
- F1: Reporting person elected to satisfy tax withholding by having the issuer withhold shares issuable upon vesting.
- F2: Lists time-based restricted stock: 5,041 shares (vesting 3/4/27) and 9,028 shares (vesting in equal annual installments on 3/3/27 and 3/3/28).
- F3: Performance-based restricted stock: 12,099 shares may vest on release of 2026 financials; 10,833 shares vest 30%/40% on release of 2026/2027 financials, subject to continued employment and performance targets (see company 2025 Form 10‑K for targets).
- F4: Certain options vest in three equal installments on 3/2/2027, 3/2/2028 and 3/2/2029, subject to continued employment.
- F5: Some awards/options are fully exercisable (as noted in filing).
- Timeliness: Form 4 was filed on March 9, 2026 for a March 6 transaction — filed within required reporting window (timely).
Context
This was a routine tax-withholding action tied to vested restricted stock rather than an express sale of shares on the market. Withholding to cover taxes is a common administrative step and does not necessarily indicate the insider's view on the company's prospects. Performance-based and time-based awards cited in the footnotes remain subject to vesting conditions (continued employment and achievement of performance targets).
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2][F3]2026-03-06$3.34/sh−2,217$7,405→ 192,165 total
- 26,900
Stock Option (Right to Buy)
[F5]Exercise: $8.50Exp: 2027-11-06→ Common Stock (26,900 underlying) - 56,000
Stock Option (Right to Buy)
[F5]Exercise: $5.55Exp: 2028-02-22→ Common Stock (56,000 underlying) - 97,067
Stock Option (Right to Buy)
[F5]Exercise: $6.26Exp: 2029-02-20→ Common Stock (97,067 underlying) - 120,000
Stock Option (Right to Buy)
[F4]Exercise: $3.41Exp: 2036-03-02→ Common Stock (120,000 underlying)
Footnotes (5)
- [F1]The reporting person has elected to satisfy his tax withholding obligation in connection with the vesting of a prior restricted stock grant by directing the Issuer to withhold shares otherwise issuable upon vesting of the previously reported grant.
- [F2]Includes (i) 5,041 shares of restricted stock for which the risks of forfeiture will lapse on 3/4/27; (ii) 9,028 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/3/27 and 3/3/28; and
- [F3](iii) 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]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.
- [F5]Fully exercisable.