Diamond Hill (DHIL) director’s shares cashed out at $175 in First Eagle merger

Rhea-AI Filing Summary

DIAMOND HILL INVESTMENT GROUP INC director Thomas L'Quentus reported a disposition of 2,614.534 common shares at $175.00 per share in a transaction coded as a disposition to the issuer. The filing notes that the company was acquired by First Eagle Investment Management, LLC, and each common share was canceled and converted into the right to receive $175.00 in cash without interest. Restricted stock granted under the company’s equity and cash incentive plans was similarly canceled for a $175.00 cash payment per share, and L'Quentus reported no common shares owned directly after this merger-related cash-out.

Insights

Equity analyst

Director’s shares were cashed out at $175 per share in a going‑private merger.

The filing shows director Thomas L'Quentus disposing of 2,614.534 common shares at $175.00 per share through a transaction coded as a disposition to the issuer. This aligns with the cash consideration set in the merger agreement for all outstanding common shares.

Footnotes explain that on April 22, 2026 Diamond Hill was acquired by First Eagle Investment Management, LLC, and every common and restricted share was canceled and converted into the right to receive $175.00 in cash. Following this transaction, L'Quentus reported no remaining common shares, indicating his equity exposure in these shares ended at the closing of the merger.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Thomas L'Quentus

Role null

Type	Security	Shares	Price	Value
Disposition	Common	2,614.534	$175.00	$458K

Holdings After Transaction: Common — 0 shares (Direct, null)

Footnotes (1)

1. On April 22, 2026, the Company was acquired by First Eagle Investment Management, LLC pursuant to that certain Agreement and Plan of Merger, dated as of December 10, 2025 (the "Merger Agreement"), among Diamond Hill Investment Group, Inc., First Eagle Investment Management, LLC, and Soar Christopher Holdings, Inc. Pursuant to the Merger Agreement, upon the consummation of the merger, each issued and outstanding share of the Company's common stock was canceled and converted into the right to receive $175.00 in cash without interest. In addition, each share of restricted stock that was granted under the Company's 2014 Equity and Cash Incentive Plan, 2022 Equity and Cash Incentive Plan, and 2025 Equity and Cash Incentive Plan that was outstanding immediately prior to the consummation of the merger was canceled and converted into the right to receive $175.00 in cash without interest.

Key Figures

Director shares disposed: 2,614.534 shares Cash consideration per share: $175.00 per share Post-transaction holdings: 0.0000 shares +1 more

4 metrics

Director shares disposed 2,614.534 shares Common stock disposed on April 22, 2026

Cash consideration per share $175.00 per share Merger consideration for each common share

Post-transaction holdings 0.0000 shares Common shares owned directly after merger

Restricted stock cash-out price $175.00 per share Price applied to restricted stock under equity plans

Key Terms

Agreement and Plan of Merger, restricted stock, Equity and Cash Incentive Plan, disposition to issuer, +1 more

5 terms

Agreement and Plan of Merger regulatory

"pursuant to that certain Agreement and Plan of Merger, dated as of December 10, 2025"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

restricted stock financial

"each share of restricted stock that was granted under the Company's 2014 Equity and Cash Incentive Plan"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Equity and Cash Incentive Plan financial

"the Company's 2014 Equity and Cash Incentive Plan, 2022 Equity and Cash Incentive Plan, and 2025 Equity and Cash Incentive Plan"

disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

common stock financial

"each issued and outstanding share of the Company's common stock was canceled and converted"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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

X

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^*

Thomas L'Quentus

(Last) (First) (Middle)

325 JOHN H. MCCONNELL BLVD.

SUITE 200

(Street)

COLUMBUS OHIO 43215

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DIAMOND HILL INVESTMENT GROUP INC [ DHIL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026

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

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

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

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	04/22/2026		D(1)		2,614.534(2)	D	$175	0	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. On April 22, 2026, the Company was acquired by First Eagle Investment Management, LLC pursuant to that certain Agreement and Plan of Merger, dated as of December 10, 2025 (the "Merger Agreement"), among Diamond Hill Investment Group, Inc., First Eagle Investment Management, LLC, and Soar Christopher Holdings, Inc.

2. Pursuant to the Merger Agreement, upon the consummation of the merger, each issued and outstanding share of the Company's common stock was canceled and converted into the right to receive $175.00 in cash without interest. In addition, each share of restricted stock that was granted under the Company's 2014 Equity and Cash Incentive Plan, 2022 Equity and Cash Incentive Plan, and 2025 Equity and Cash Incentive Plan that was outstanding immediately prior to the consummation of the merger was canceled and converted into the right to receive $175.00 in cash without interest.

	Carlotta D. King by POA	04/22/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Diamond Hill (DHIL) director Thomas L'Quentus report?

Thomas L'Quentus reported disposing of 2,614.534 Diamond Hill common shares at $175.00 per share in a transaction coded as a disposition to the issuer, reflecting his shares being cashed out as part of the company’s merger closing.

Why were Thomas L'Quentus’s Diamond Hill (DHIL) shares disposed of on April 22, 2026?

His shares were disposed because Diamond Hill was acquired by First Eagle Investment Management, LLC. Under the merger agreement, each outstanding common share was canceled and converted into the right to receive $175.00 in cash without interest at closing.

What cash consideration did Diamond Hill (DHIL) shareholders receive in the merger?

Each issued and outstanding Diamond Hill common share was canceled and converted into the right to receive $175.00 in cash without interest. The same $175.00 cash amount applied per share of restricted stock outstanding immediately before the merger’s consummation.

How many Diamond Hill (DHIL) shares did Thomas L'Quentus hold after the merger transaction?

Following the merger-related disposition, Thomas L'Quentus reported 0.0000 common shares owned directly. His previously held 2,614.534 common shares were canceled and converted into the right to receive $175.00 in cash per share under the merger agreement.

What happened to Diamond Hill (DHIL) restricted stock in the First Eagle merger?

Each share of restricted stock outstanding under Diamond Hill’s 2014, 2022, and 2025 Equity and Cash Incentive Plans was canceled at closing and converted into the right to receive $175.00 in cash per share, consistent with the treatment of common stock.

Who acquired Diamond Hill (DHIL) and when did the merger close?

Diamond Hill Investment Group, Inc. was acquired by First Eagle Investment Management, LLC pursuant to an Agreement and Plan of Merger dated December 10, 2025. The merger was consummated on April 22, 2026, when the cash consideration of $175.00 per share became effective.