[Form 4] Carriage Services, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Carlos R. Quezada, CEO of Carriage Services, Inc. (CSV), sold 4,250 shares of the company's common stock on 08/07/2025 under a Rule 10b5-1(c) trading plan entered on 12/27/2024. The sale produced a weighted average price of $47.35 per share, with individual trades ranging from $45.81 to $48.39. After the reported transactions, the reporting person beneficially owned 98,333 shares directly. The Form notes the report was submitted late due to an administrative oversight and clarifies the reporting person had no discretion over timing because the trades were automatic under the plan.

Positive

• Sale executed under a Rule 10b5-1(c) plan, indicating trades were prearranged and not discretionary at the time of execution.
• Transparent pricing information provided: weighted average price of $47.35 and explicit trade range of $45.81–$48.39.
• Significant remaining direct ownership reported: 98,333 shares remained beneficially owned after the transactions.

Negative

• Late reporting acknowledged: the Form states the transaction was reported late due to an administrative oversight.
• Insider sale disclosed (4,250 shares), which some investors monitor as a potential signal even when executed under a 10b5-1 plan.

Insights

Corporate Governance Expert

TL;DR: Insider sale followed a pre-established 10b5-1 plan, which reduces timing concerns, but the late report raises a disclosure control note.

The sale of 4,250 shares under a Rule 10b5-1(c) plan indicates the transactions were prearranged and the CEO had no contemporaneous control over timing, which is typically a governance-strength indicator because it reduces appearance of opportunistic trading. However, the Form acknowledges the filing was late due to an administrative oversight; timely Section 16 reporting is a basic disclosure control, so the late filing is a governance lapse that investors may note. Overall impact is limited absent other undisclosed issues.

Securities Analyst

TL;DR: Transaction is routine under a 10b5-1 plan and small relative to many insider holdings, with clear price range disclosure.

The Form reports a weighted average sale price of $47.35 and an explicit trade price range of $45.81–$48.39, providing helpful transparency on execution. The remaining direct ownership of 98,333 shares suggests the CEO retains meaningful exposure to company equity. There is no indication of derivative activity or other material transactions in this filing. Impact on valuation or liquidity is likely immaterial based solely on this disclosure.

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).

X

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^*

Quezada Carlos R.

(Last) (First) (Middle)

3040 POST OAK BLVD.

SUITE 300

(Street)

HOUSTON TX 77056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARRIAGE SERVICES INC [ CSV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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	08/07/2025(1)		S(2)		4,250	D	$47.35(3)	98,333	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 is being reported late due to an administrative oversight.

2. The reported transaction was affected automatically pursuant to a Rule 10b5-1(c) Plan entered into by the Reporting Person on December 27, 2024. Accordingly, the Reporting Person had no discretion with regard to the timing of the transaction.

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.81 to $48.39, inclusive. The Reporting Person undertakes to provide to Carriage Services, Inc. ("Carriage"), any security holder of Carriage, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Remarks:

	/s/ Carlos Quezada	08/12/2025
	** 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 insider activity did Carriage Services (CSV) report in this Form 4?

The Form 4 shows CEO Carlos R. Quezada sold 4,250 shares of common stock on 08/07/2025 under a Rule 10b5-1(c) plan.

At what price did the CSV insider sale occur?

The sale produced a weighted average price of $47.35 per share, with individual trades ranging from $45.81 to $48.39.

How many shares does the reporting person own after the sale?

After the reported transactions the reporting person beneficially owned 98,333 shares directly.

Was the insider sale discretionary or pre-planned?

The Form states the trades were automatic under a Rule 10b5-1(c) plan entered on 12/27/2024, so the reporting person had no discretion over timing.

Was there any issue with the Form 4 filing?

Yes. The Form explains the transaction was reported late due to an administrative oversight.