Forager Capital Management, LLC 4

What Happened Forager Fund, L.P. (a reported 10% owner of Regional Management Corp., ticker RM) disposed of a total of 27,961 shares in open-market sales across three days. The sales occurred April 17, 20 and 21, 2026, generating aggregate proceeds of approximately $1,104,353. These were institutional dispositions (transaction code S), not purchases.

Key Details

• Transactions:
  • 2026-04-17: 7,173 shares sold at a weighted average price of $38.56; proceeds $276,591. (Price range reported: $38.35–$39.04.) [F1]
  • 2026-04-20: 15,000 shares sold at a weighted average price of $39.68; proceeds $595,200. (Price range reported: $39.40–$40.105.) [F3]
  • 2026-04-21: 5,788 shares sold at a weighted average price of $40.18; proceeds $232,562. (Price range reported: $40.05–$40.39.) [F4]
• Total: 27,961 shares sold for ~$1,104,353.
• Filing date: Form 4 filed Apr 21, 2026 (Period of Report shows Apr 17, 2026).
• Ownership/authority note: Shares are directly held by Forager Fund, L.P.; Forager Capital Management, LLC is the general partner and two principals have shared voting and dispositive authority. Each reporting person disclaims beneficial ownership except to the extent of pecuniary interest. [F2]
• Shares owned after the transactions: not specified in the information provided in this summary.

Context

• These were open-market sales by a 10% institutional holder. Institutional sales can reflect portfolio rebalancing or other fund-level decisions and are not the same as insider/officer personal trading. Sales are generally less informative than purchases about management confidence; this report is a factual disclosure of disposals, not an explanation of motive.