SACHDEV RAKESH 4

What Happened

• Rakesh Sachdev, a director of Herc Holdings Inc., was granted 1,035 phantom stock units (reported as a derivative award) on May 14, 2026. The grant is reported at $0.00 per unit and does not reflect an immediate cash outlay or transfer of common shares — it is an award of phantom stock, not a market purchase.

Key Details

• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed 4 days after the transaction; Form 4s are typically due within 2 business days, so this appears later than usual).
• Amount: 1,035 phantom stock units; Reported price: $0.00; Transaction type: Award/Grant (derivative).
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: Each phantom unit is the economic equivalent of one common share.
  • F2: Phantom units will be distributed in common stock when the reporting person stops serving as a director, provided that event occurs on or after the Issuer’s 2027 annual meeting (or earlier if there is a change of control).
  • F3: The reported units include previously granted phantom stock with different distribution conditions.

Context

• Phantom stock is a deferred-compensation award that tracks the value of common shares but does not transfer actual shares until payout conditions are met; it does not represent an immediate buy or sell in the open market. Such director awards are common as compensation; they don’t necessarily signal the insider’s short-term market view.