Star Equity (STRR) Director Todd Fruhbeis Receives 535 Preferred Shares

What Happened

• Todd Michael Fruhbeis, a director of Star Equity Holdings, settled 535 restricted stock units (RSUs) on August 18, 2026, which converted into 535 shares of the issuer’s 10.0% Series A Cumulative Perpetual Preferred Stock. The Form 4 shows an acquisition entry and a contemporaneous disposition entry for the same 535 derivative shares; no price or cash value is reported.

Key Details

• Transaction date: August 18, 2026 (Period of Report); Form 4 filed August 19, 2026 (timely).
• Transaction code: M (exercise or conversion of derivative).
• Shares involved: 535 shares acquired via settlement of RSUs; a matching disposition entry for 535 shares is also recorded.
• Price/Value: Not reported (N/A) in the filing.
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes:
  • Each RSU converts to one share of the issuer’s 10.0% Series A Preferred Stock (par $0.001) (F1).
  • This was the scheduled settlement of RSUs upon vesting (F2).
  • The 535 RSUs were originally granted Aug 18, 2025 by Star Operating Companies, Inc., exchanged in the May 21, 2025 merger, and vested 100% on Aug 18, 2026 (F3).

Context

• This transaction reflects the scheduled vesting and settlement of previously granted RSUs into preferred shares—an award settlement rather than an open-market purchase or sale. Preferred shares and RSU settlements can differ in liquidity and market impact compared with common-stock trades; the filing does not show a cash sale or market transaction.