Orr Patrick J 4

What Happened

• Patrick J. Orr, Executive Vice President & Chief Revenue Officer of HealthCare Services Group, had equity awards convert to common stock on Feb 24, 2026. The filing reports 12,883 shares acquired via exercise/conversion of derivative awards (codes M) and 5,466 shares disposed (code F) to satisfy tax withholding at $21.40/share (total withholding ≈ $116,973). After withholding, Orr kept a net ~7,417 shares. The company’s compensation committee certified achievement of the performance goals that triggered part of the award.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (appears timely — within the usual 2-business-day window).
• Prices: withholding executed at $21.40 per share; derivative conversions reported at $0 exercise price (reflecting settlement of award units, not a cash purchase).
• Shares acquired (conversion/exercise): 12,883 total (3,340; 9,543).
• Shares withheld/disposed for taxes: 5,466 total (1,417; 4,049) — cash value ≈ $116,973.
• Net shares added to Orr’s holdings: ~7,417 shares (approximate value ≈ $158,724 at $21.40).
• Footnotes of note:
  • F1: shares withheld to pay taxes.
  • F2: shares earned and delivered on a performance stock unit award (granted Feb 2023) after certification of performance for the period ended 12/31/2025.
  • F3: shares issued at a 1-for-1 conversion rate.
  • F4: certain restricted stock units vest 20% annually beginning Feb 24, 2023.
• Shares owned after the transaction (total company holdings) are not specified in the excerpt of the filing provided.

Context

• This was not an open-market purchase or a discretionary sale — it was the conversion/vesting of awarded stock units and a net settlement where shares were withheld to cover tax obligations (routine for vested awards). Code explanations: M = exercise or conversion of derivative award; F = shares withheld to pay taxes. Such filings typically reflect standard compensation settlement rather than a confident market signal.