Palmer Jennifer 4

What Happened

• Jennifer Palmer, a director of Star Equity Holdings, settled 460 restricted stock units (RSUs) on May 19, 2026, which converted into 460 shares of the company's 10.0% Series A Cumulative Perpetual Preferred Stock. The Form 4 records an acquisition of 460 shares (derivative conversion, code M); price is listed as N/A and no cash purchase or open-market sale is reported.
• This was a settlement of compensation RSUs that vested; it is not a purchase or sale in the open market, and there is no indication the shares were immediately sold.

Key Details

• Transaction date: May 19, 2026; Form 4 filed: May 21, 2026 (timely filing within the usual two-business-day window).
• Shares involved: 460 shares of 10.0% Series A Cumulative Perpetual Preferred Stock; price: N/A (settlement of RSUs).
• Footnotes: F1–F3 explain that each RSU converts to one share of Series A Preferred, the RSUs were settled on their scheduled vesting date, and the RSUs were originally SOC RSUs exchanged in a prior merger agreement; 100% of these Restricted Stock Units vested on May 19, 2026.
• Shares owned after transaction: Not reported on this Form 4.
• Transaction code M indicates exercise or conversion of a derivative instrument (here, RSU settlement into preferred shares).

Context

• These were compensation RSUs that vested and were converted into preferred shares — a routine corporate compensation/vesting event rather than a market buy or sell. Preferred shares here are cumulative and pay a 10.0% dividend rate (per the footnote), which differs from common stock and may carry different liquidity and dividend features.
• For retail investors: such settlements signal executive compensation being realized but do not, by themselves, indicate a personal bullish or bearish trade by the insider.