MAGNOLIA CAPITAL FUND, LP 4

What Happened
Adam K. Peterson (managing member of The Magnolia Group, LLC) sold a total of 1,341,378 shares of RE/MAX Holdings, Inc. (RMAX) in open-market transactions across April 27–29, 2026. Sales by date: 632,091 shares at a $9.84 weighted-average ($6,219,775), 493,006 shares at $10.97 ($5,408,276), and 216,281 shares at $11.10 ($2,400,719). Total proceeds were approximately $14.03 million. These were sales (not purchases or option exercises).

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-04-27: 632,091 shares @ $9.84 (total ≈ $6,219,775). (Actual trades ranged $9.72–$10.07; weighted average reported.)
  • 2026-04-28: 493,006 shares @ $10.97 (total ≈ $5,408,276). (Actual trades ranged $10.42–$11.38.)
  • 2026-04-29: 216,281 shares @ $11.10 (total ≈ $2,400,719). (Actual trades ranged $11.02–$11.46.)
• Aggregate: 1,341,378 shares sold for ≈ $14,028,770.
• Ownership after transaction: filing notes Magnolia Capital Fund, LP (the direct owner) and related parties are no longer 10% owners of the issuer. The Form 4 discloses indirect ownership through Magnolia Capital Fund, LP and The Magnolia Group, LLC; Mr. Peterson disclaims beneficial ownership except to the extent of his pecuniary interest.
• Filing/timeliness: Form 4 was filed 2026-04-29 (reporting period begins 2026-04-27); the filing appears timely under Form 4 reporting rules.
• Footnotes: weighted-average prices reported; reporter offers to provide trade-level detail on request. No 10b5-1 plan, gift, or option exercise was reported.

Context
These were open-market sales by an entity controlled by Mr. Peterson rather than a direct personal grant or exercise; the filing shows multiple trades aggregated to weighted-average prices. Sales do not by themselves indicate the insider’s view of the company’s prospects; note also the filing reports the related entities have fallen below the 10% ownership threshold after these transactions.