Fruhbeis Todd Michael 4
4 · Star Equity Holdings, Inc. · Filed May 21, 2026
Research Summary
AI-generated summary of this filing
Star Equity (STRR) Director Todd Fruhbeis Buys 401 Shares, Converts RSUs
What Happened Todd Michael Fruhbeis, a director of Star Equity Holdings, converted 535 restricted stock units (RSUs) into shares of the issuer’s 10.0% Series A Cumulative Perpetual Preferred Stock upon vesting on May 19, 2026. He also made two open‑market purchases of common stock: 1 share on May 20, 2026 at $10.25 and 400 shares on May 21, 2026 at $10.98 (total cash paid ≈ $4,402.25). The RSU conversion is a vesting/settlement event (no cash paid), while the common-stock transactions are small-dollar purchases (a direct buy).
Key Details
- Transaction dates and prices:
- May 19, 2026 — Conversion/settlement of 535 RSUs into Series A Preferred Stock (exercise/conversion; price N/A).
- May 20, 2026 — Open-market purchase of 1 common share @ $10.25 (≈ $10.25).
- May 21, 2026 — Open-market purchase of 400 common shares @ $10.98 (≈ $4,392.00).
- Total cash spent on common-stock purchases: ≈ $4,402.25.
- Shares owned after these transactions: Not specified in the provided filing excerpt.
- Notable footnotes from the filing:
- F1–F2: Each RSU represents the right to one share of the Issuer’s Series A Preferred Stock; the May 19 conversion was the scheduled vesting/settlement of those RSUs.
- F4: The 535 RSUs were originally SOC RSUs exchanged in a 2025 merger; 100% vested on May 19, 2026.
- F3: The filing also references 7,012 RSUs credited under a 2009 plan that convert to common stock at a later scheduled date.
- Filing timeliness: Form 4 was filed May 21, 2026; this appears to be within the typical two-business-day reporting window for the listed transactions (no late filing flag indicated).
Context
- The May 19 transaction is a vesting/settlement of RSUs into preferred shares (derivative conversion), not a sale; no cash was received on that event. The May 20–21 entries are small open-market purchases (P code), which are straightforward buys rather than sales or cashless exercises.
- These purchases are modest in dollar size (~$4.4K total) and should be viewed as routine insider buying — factual information for investors, not proof of future performance.
Insider Transaction Report
Form 4
Fruhbeis Todd Michael
Director
Transactions
- Exercise/Conversion
Series A Preferred Stock
[F1][F2]2026-05-19+535→ 5,111 total - Purchase
Common Stock
[F3]2026-05-20$10.25/sh+1$10→ 13,074 total - Purchase
Common Stock
[F3]2026-05-21$10.98/sh+400$4,392→ 13,474 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2][F4]2026-05-19−535→ 0 total→ Series A Preferred Stock (535 underlying)
Footnotes (4)
- [F1]Each Restricted Stock Unit represents the right to receive, at settlement, one share of the Issuer's 10.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share (the "Series A Preferred Stock").
- [F2]This transaction represents the settlement of Restricted Stock Units in shares of Series A Preferred Stock on their scheduled vesting date.
- [F3]Includes 7,012 Restricted Stock Units credited to the Reporting Person's account under the Issuer's 2009 Incentive Stock and Awards Plan, as amended and restated. Each Restricted Stock Unit represents the right to receive, at settlement, one share of Common Stock payable upon the first anniversary of the Grant Date.
- [F4]On May 19, 2025, the Reporting Person was granted Restricted Stock Units by Star Operating Companies, Inc. ("SOC"), each of which represented the right to receive, at settlement, one share of SOC Series A Preferred Stock ("SOC RSUs"). Pursuant to the Agreement and Plan of Merger, dated as of May 21, 2025, by and among SOC, the Issuer and HSON Merger Sub, Inc., a wholly owned subsidiary of the Issuer, the Reporting Person's SOC RSUs were exchanged for 535 Restricted Stock Units. As to this grant, one hundred percent (100%) of the Restricted Stock Units vested on May 19, 2026.
Signature
/s/ Hannah Bible, as Attorney-in-Fact for Todd Fruhbeis|2026-05-21