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Star Equity Holdings, Inc.·4

May 21, 5:53 PM ET

Fruhbeis Todd Michael 4

Research Summary

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Updated

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.