BBSI Director Thomas B. Cusick Exercises Options & Receives RSUs

What Happened

• Thomas B. Cusick, a director of Barrett Business Services, reported three linked transactions on July 1, 2026: an exercise/conversion of 2,344 derivative shares (code M) at $0.00, a simultaneous disposition of those 2,344 derivative shares (reported at $0.00), and a grant/award of 2,782 restricted stock units (RSUs) (code A) reported at $0.00. No cash values were reported for these transactions.
• The RSU award represents a contingent right to receive common shares; the filing’s footnotes explain vesting and settlement details (see Key Details). These are awards/settlements rather than open-market purchases or sales.

Key Details

• Transaction date(s) and price(s): July 1, 2026; all reported at $0.00.
  • M (exercise/conversion): 2,344 derivative shares acquired at $0.00.
  • M (disposition): 2,344 derivative shares disposed at $0.00.
  • A (award/grant): 2,782 RSUs granted at $0.00.
• Shares owned after the transaction: Not disclosed in this Form 4.
• Footnotes (from the filing):
  • F1: Each Restricted Stock Unit = contingent right to one share of common stock.
  • F2: Certain RSUs vest in one installment on July 1, 2026 and will be settled by delivery of unrestricted shares on that date.
  • F3: Certain RSUs vest in one installment on July 1, 2027 and will be settled by delivery of unrestricted shares on that date.
• Filing timeliness: Report filed July 2, 2026 for transactions on July 1, 2026 — appears timely.

Context

• Code meanings: M = exercise or conversion of derivative security; A = grant/award. The filing records an exercise/conversion event and an award of RSUs rather than an open-market buy or sell.
• For retail investors: awards and exercises at $0 often reflect compensation-plan events (vesting, conversion, or stock-settled activity) rather than a market purchase or intentional open-market sale. The RSUs will convert to unrestricted shares on their stated vesting dates per the footnotes.