WAHL Theodore 4

What Happened

• Theodore Wahl, President & CEO and a director of Healthcare Services Group, converted/exercised company stock awards into common shares on Feb 24, 2026. The Form 4 shows conversion/exercise entries of 22,238, 63,551 and another 22,238 shares (total 108,027 shares reported).
• To cover withholding obligations, 9,434 and 26,959 shares were surrendered at $21.40 per share, generating proceeds of $201,888 and $576,923 respectively (total withheld value $778,811). One conversion entry for 22,238 shares is shown as a derivative disposition with no cash proceeds.

Key Details

• Transaction date: February 24, 2026; Form 4 filed Feb 26, 2026 (filed within standard Form 4 timing).
• Reported share movements: conversions/exercises of 22,238; 63,551; and 22,238 shares (entries total 108,027 shares as reported).
• Shares withheld for taxes: 9,434 and 26,959 shares (total 36,393 shares) at $21.40/share = $778,811 withheld. Footnote F1 confirms shares were withheld to pay taxes.
• Footnotes: F2 indicates some shares were earned and delivered from a February 2023 performance stock unit award after certification of performance for the period ended Dec 31, 2025; F3 notes a 1-for-1 conversion rate; F4 describes RSU vesting schedule (20% annually from Feb 24, 2023).
• Shares owned after the transaction: not specified in the information provided on this filing.

Context

• This appears to be award conversion/vesting activity (performance stock units and restricted stock units) rather than an open-market purchase or a voluntary sale. The withholding of shares to satisfy tax obligations (code F) is routine and common when equity awards vest.
• Because this is an award conversion with tax withholding, it’s not necessarily a directional (buy/sell) signal about the CEO’s view of the stock—it's a standard administrative step when awards vest.