[Form 4] Barrett Business Services Insider Trading Activity

Rhea-AI Filing Summary

Gary Kramer, President & CEO of Barrett Business Services, reported multiple transactions in the issuer's common stock. On 08/22/2025 he sold 22,344 shares at a weighted-average price of $48.5257, reducing his beneficial holdings. On 08/25/2025 he exercised 80,000 employee stock options with an exercise price of $20.55 and immediately reported an acquisition of 80,000 shares (options) and a contemporaneous sale of 80,000 shares at a weighted-average price of $48.3486. Following these transactions his reported beneficial ownership is 287,040 shares. The filing notes the options' vesting schedule and that the sale trades were executed in multiple lots at varying prices; the attorney-in-fact signature is dated 08/26/2025.

Positive

• Timely and detailed disclosure of option exercise and sales, including weighted-average prices and willingness to provide trade-level details
• Continued significant ownership: reporting person still beneficially owns 287,040 shares after transactions

Negative

• Insider sales totaling 102,344 shares (22,344 on 08/22/2025 and 80,000 on 08/25/2025) represent notable insider liquidity
• No indication of a 10b5-1 plan was selected in the filing, suggesting sales were not reported as pursuant to a pre-established plan

Insights

Financial Analyst

TL;DR: CEO exercised 80,000 options at $20.55 and sold shares, a routine liquidity event with limited immediate effect on company fundamentals.

The report shows a common pattern: option exercise followed by share sales, producing net proceeds while retaining substantial ownership (287,040 shares). The exercise price of $20.55 versus sale prices near $48.35–$48.53 implies a significant gain per option exercised, but this is an insider liquidity event rather than a change to operations or capital structure. No new issuances or changes to outstanding option pools are reported beyond the exercised options. For investors, this is notable for insider activity tracking but provides no direct indication of altered business performance.

Corporate Governance Expert

TL;DR: Insider complied with reporting rules; transactions include option exercise and open-market sales, consistent with typical executive compensation monetization.

The Form 4 discloses timely reporting and includes explanatory notes on weighted-average prices and vesting. The filing indicates the transactions were executed in multiple trades and the reporter offers to provide trade-level details on request, reflecting transparency. There is no indication of a Rule 10b5-1 plan box being checked, so these appear to be open-market sales following exercise rather than sales pursuant to a pre-established plan. From a governance perspective, documentation is complete and procedural requirements appear satisfied.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kramer Gary

(Last) (First) (Middle)

8100 N.E. PARKWAY DRIVE, SUITE 200

(Street)

VANCOUVER WA 98662

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BARRETT BUSINESS SERVICES INC [ BBSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		S		22,344	D	$48.5257(1)	287,040	D
Common Stock	08/25/2025		M		80,000	A	$20.55	367,040	D
Common Stock	08/25/2025		S		80,000	D	$48.3486(2)	287,040	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options (Right to Buy)	$20.55	08/25/2025		M			80,000	(3)	03/28/2028	Common Stock	80,000	$0.00	80,000	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $48.34 to $48.64. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

2. This transaction was executed in multiple trades at prices ranging from $48.00 to $48.80. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. 25% of these options became exercisable on March 28, 2022; 25% on March 28, 2024; and the remaining 50% on March 28, 2026.

Remarks:

	/s/ Anthony Harris, as attorney-in-fact	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did BBSI CEO Gary Kramer report on the Form 4?

The filing reports a 22,344-share sale on 08/22/2025 at a weighted-average price of $48.5257, and on 08/25/2025 an exercise of 80,000 options at $20.55 followed by a sale of 80,000 shares at a weighted-average price of $48.3486.

How many shares does Gary Kramer beneficially own after these transactions (BBSI)?

Following the reported transactions his beneficial ownership is 287,040 shares according to the Form 4.

What were the exercise terms of the reported employee stock options?

The options had an exercise price of $20.55; 80,000 options were exercised and the filing notes a vesting schedule where 25% vested 03/28/2022, 25% on 03/28/2024, and the remaining 50% on 03/28/2026.

Were the sales executed at single prices or multiple trades?

The filing states the sales were executed in multiple trades at prices ranging near the reported weighted averages and provides willingness to supply full trade details upon request.

Who signed the Form 4 and when was it filed?

The Form 4 is signed by Anthony Harris, as attorney-in-fact, with the signature dated 08/26/2025.