[Form 4] Barrett Business Services Insider Trading Activity

Rhea-AI Filing Summary

Reporting person: CARLEY THOMAS J, a director of Barrett Business Services, Inc. (BBSI). On 08/13/2025 the reporting person exercised employee stock options with a $9.95 exercise price to acquire 12,646 shares and simultaneously sold 12,646 common shares in multiple trades at a weighted average price of $47.6182. After these transactions the reporting person is shown as beneficially owning 94,692 shares directly; an additional 12,008 shares are reported as indirectly owned by spouse. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Exercise of vested options demonstrates compensation realization at a low exercise price of $9.95
• Sale executed at a weighted average price of $47.6182, representing a significant spread over the exercise price

Negative

• Direct beneficial ownership decreased from 107,338 (post-exercise) to 94,692 following the sale
• Immediate disposition of acquired shares means no incremental long-term stake was added by the reporting person

Insights

Financial Analyst

TL;DR: Director exercised options at $9.95 and sold the resulting 12,646 shares at a weighted $47.62, reducing direct holdings to 94,692 shares.

The transaction shows an option exercise followed by an immediate sale of the same 12,646 shares, implying the director monetized vested compensation. The weighted average sale price is explicitly reported as $47.6182, and the exercise price was $9.95, producing a material per-share spread for the reporting individual. The filing reports direct beneficial ownership of 94,692 shares post-transaction and 12,008 shares indirectly held by spouse, both explicitly stated.

Corporate Governance Expert

TL;DR: Director-level insider executed a standard option exercise and immediate sale; ownership disclosure updated to reflect the transactions.

The Form 4 discloses standard Section 16 activity: an option award that became exercisable was exercised and shares were sold the same day. The filing identifies the reporting person as a director and indicates the form was filed by one reporting person. All material transaction details including dates, quantities, exercise price, and weighted average sale price are provided directly in the filing.

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^*

CARLEY THOMAS J

(Last) (First) (Middle)

8100 NE 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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	08/13/2025		M(1)		12,646	A	$9.95	107,338	D
Common Stock	08/13/2025		S		12,646	D	$47.6182(2)	94,692	D
Common Stock								12,008	I	By Spouse

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)	$9.95	08/13/2025		M			12,646	(3)	07/01/2026	Common Stock	12,646	$0	0	D

Explanation of Responses:

1. Represents the exercise of this option award ahead of its expiration in July 2026

2. This transaction was executed in multiple trades at prices ranging from $47.52 to $47.74. 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. Became exercisable in four equal installments beginning July 1, 2017.

	/s/ Anthony Harris, as attorney-in-fact	08/15/2025
	** 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 the BBSI director report on Form 4?

The director exercised 12,646 employee stock options at a $9.95 exercise price and sold 12,646 shares on 08/13/2025 at a weighted average price of $47.6182.

What is the reporting persons ownership after the reported transactions (BBSI)?

After the transactions the reporting person is shown as owning 94,692 shares directly and 12,008 shares indirectly via spouse, as stated in the filing.

When did the options that were exercised become exercisable?

The filing states the option award "became exercisable in four equal installments beginning July 1, 2017," and the exercise was reported on 08/13/2025.

What price range were the sale trades executed at?

The sale was executed in multiple trades at prices ranging from $47.52 to $47.74, with a reported weighted average of $47.6182.

Who signed the Form 4 filing?

The form is signed by /s/ Anthony Harris, as attorney-in-fact for the reporting person with a signature date of 08/15/2025.