[Form 4] Comstock Holding Companies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Comstock Holding Companies, Inc. (CHCI) insider Form 4 shows Timothy J. Steffan, the companys Chief Operating Officer and a director, sold Class A common stock in two transactions on 08/19/2025 and 08/20/2025. On 08/19/2025 he sold 3,430 shares at a weighted-average price of $15.66, reducing his beneficial ownership to 92,564 shares. On 08/20/2025 he sold 1,054 shares at $15.54, reducing his beneficial ownership to 91,510 shares. The filer stated the 08/19 sale was executed in multiple trades at prices ranging $15.56 to $15.78 and offered to provide trade-level details upon request.

Positive

• None.

Negative

• Insider sale disclosed: COO and director sold a total of 4,484 Class A shares across 08/19/2025 and 08/20/2025, reducing beneficial ownership to 91,510 shares.

Insights

Securities Analyst

TL;DR: Insider sale by COO totaling 4,484 shares at ~$15.60 signals routine disposition, not necessarily company-impacting based on this filing alone.

Timothy J. Steffan reported two open-market sales totaling 4,484 Class A shares across 08/19/202508/20/2025 at weighted-average prices of $15.66 and $15.54. Post-sale beneficial holdings declined from 92,564 to 91,510 shares. The filer disclosed price ranges for the larger trade and committed to provide specific trade data on request. There is no derivative activity reported and no additional context (e.g., 10b5-1 plan) provided on the form, so these appear to be direct dispositions rather than option exercises or complex transactions.

Corporate Governance Expert

TL;DR: Board officer executed modest open-market sales; documentation is complete but lacks explanatory context.

The filing documents compliance with Section 16 reporting: signatures are present and the sales are disclosed with weighted-average pricing and resulting holdings. The disclosure that the 08/19 trade comprised multiple executions and the offer to supply granular trade information is appropriate for transparency. The filing does not state any affiliation with a pre-arranged trading plan, so readers cannot infer whether sales were pre-scheduled.

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^*

Steffan Timothy

(Last) (First) (Middle)

1900 RESTON METRO PLAZA

10TH FLOOR

(Street)

RESTON VA 20190

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Comstock Holding Companies, Inc. [ CHCI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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
Class A Common Stock, $0.01 par value	08/19/2025		S		3,430	D	$15.66(1)	92,564	D
Class A Common Stock, $0.01 par value	08/20/2025		S		1,054	D	$15.54	91,510	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

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $15.56 to $15.78 USD; the price reported above reflects the weighted-average sale price. The reporting person hereby undertakes, upon request, to provide to Comstock Holding Companies, Inc. (the "Issuer"), any security holder ofthe Issuer, or the Securities and Exchange Commission, full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ Timothy J. Steffan	08/20/2025
	** 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 exactly did CHCI insider Timothy J. Steffan report on Form 4?

He reported two open-market sales: 3,430 shares sold on 08/19/2025 at a weighted-average $15.66 and 1,054 shares sold on 08/20/2025 at $15.54.

How many CHCI shares does Timothy J. Steffan own after these transactions?

He beneficially owned 91,510 Class A shares following the 08/20/2025 sale reported on the Form 4.

Did the Form 4 report any derivative transactions or option exercises by the CHCI insider?

No. Table II for derivative securities shows no entries; only non-derivative Class A common stock sales are reported.

Were the sale prices for the 08/19 trade a single price or multiple executions?

Multiple executions: The filer stated the 08/19 transaction was executed in multiple trades at prices ranging from $15.56 to $15.78; the reported price is the weighted-average.

Does the Form 4 state the sales were under a pre-established plan (e.g., Rule 10b5-1)?

No such plan is indicated on the form. The filing does not check or reference a Rule 10b5-1 plan or other pre-arranged trading program.