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HireQuest (HQI) director Malhotra receives 5,036-share stock awards and reports 120,130 indirect shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Malhotra R. Rimmy reported acquisition or exercise transactions in this Form 4 filing.

HireQuest, Inc. director R. Rimmy Malhotra reported two equity compensation grants of common stock on August 12, 2026. The grants consist of 1,036 shares of restricted stock in lieu of a quarterly cash retainer and 4,000 shares as an Annual Award under the 2019 Non-Employee Director Compensation Plan, both valued using the Nasdaq closing price of $16.64 per share on the grant date. Portions of these awards vest on November 12, 2026, June 15, 2028, and August 12, 2028. Separately, an indirect holding of 120,130 shares is reported as owned by Nicoya Fund, LLC, with Malhotra disclaiming beneficial ownership except to the extent of his pecuniary interest.

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Insider Malhotra R. Rimmy
Role Director
Type Security Shares Price Value
Grant/Award Common Stock F1, F2 1,036 -- --
Grant/Award Common Stock F3, F4 4,000 -- --
holding Common Stock F5 -- -- --
Holdings After Transaction: Common Stock — 106,924 shares (Direct); Common Stock — 120,130 shares (Indirect, See FN)
Footnotes (5)
  1. F1. Represents shares of restricted stock awarded to Mr. Malhotra in his capacity as a Director of Issuer for Board of Director services. These shares represent compensation in-lieu of a quarterly cash retainer. 864 of these shares vest on November 12, 2026 and 172 shares vest on August 12, 2028.
  2. F2. Shares awarded for board service. See note 1. The closing price of the Issuer's Common Stock on Nasdaq on the date of the grant was $16.64 per share.
  3. F3. Represents shares of restricted stock awarded to the reporting person in the capacity as a Director of Issuer for Board of Director services. These shares represent an Annual Award pursuant to the HireQuest, Inc. 2019 Non-Employee Director Compensation Plan. These shares will vest on June 15, 2028.
  4. F4. Shares awarded for board service. See note 3. The closing price of the Issuer's Common Stock on Nasdaq on the date of the grant was $16.64 per share.
  5. F5. Represents shares directly owned by Nicoya Fund, LLC, a Delaware limited liability company. Mr. Malhotra is managing member of Nicoya Capital, LLC, which is the managing member of Nicoya Fund, LLC. Mr. Malhotra disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Restricted stock grant (retainer) 1,036 shares Shares of restricted stock awarded in lieu of a quarterly cash retainer on August 12, 2026
Restricted stock grant (Annual Award) 4,000 shares Annual Award of restricted stock for board service under 2019 Non-Employee Director Compensation Plan
Reference market price $16.64 per share Nasdaq closing price of HireQuest common stock on the August 12, 2026 grant date
Indirectly held shares 120,130 shares Common stock directly owned by Nicoya Fund, LLC with Malhotra’s pecuniary interest only
Retainer grant vesting 2026 864 shares Portion of the 1,036-share retainer award vesting on November 12, 2026
Retainer grant vesting 2028 172 shares Remaining portion of the 1,036-share retainer award vesting on August 12, 2028
Annual Award vesting date June 15, 2028 Vesting date for the 4,000-share Annual Award of restricted stock
restricted stock financial
"Represents shares of restricted stock awarded to Mr. Malhotra in his capacity as a Director"
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.
Annual Award financial
"These shares represent an Annual Award pursuant to the HireQuest, Inc. 2019 Non-Employee"
2019 Non-Employee Director Compensation Plan financial
"Annual Award pursuant to the HireQuest, Inc. 2019 Non-Employee Director Compensation Plan"
pecuniary interest financial
"Mr. Malhotra disclaims beneficial ownership of such shares except to the extent of his pecuniary interest"
indirect ownership financial
"Represents shares directly owned by Nicoya Fund, LLC ... indirect ownership is reported"

FAQ

What stock awards did HireQuest (HQI) director R. Rimmy Malhotra receive on August 12, 2026?
R. Rimmy Malhotra received two restricted stock awards totaling 5,036 shares of HireQuest common stock: 1,036 shares as a quarterly retainer in stock and 4,000 shares as an Annual Award for board service.

At what price were the HireQuest (HQI) director stock awards valued?
Both restricted stock awards to R. Rimmy Malhotra were valued using the Nasdaq closing price of $16.64 per share on August 12, 2026. This reference price applies to the 1,036-share retainer grant and the 4,000-share Annual Award.

When do R. Rimmy Malhotra’s HireQuest (HQI) restricted stock awards vest?
The 1,036-share award vests in tranches: 864 shares on November 12, 2026 and 172 shares on August 12, 2028. The separate 4,000-share Annual Award is scheduled to vest in full on June 15, 2028.

What indirect HireQuest (HQI) shareholdings are associated with R. Rimmy Malhotra?
An indirect holding of 120,130 shares of HireQuest common stock is reported as directly owned by Nicoya Fund, LLC. Malhotra, through related entities, disclaims beneficial ownership except for his pecuniary interest in those shares.

Are R. Rimmy Malhotra’s HireQuest (HQI) stock awards part of his board compensation?
Yes. The 1,036-share grant represents compensation in lieu of a quarterly cash retainer for board service. The 4,000-share restricted stock grant is an Annual Award under the 2019 Non-Employee Director Compensation Plan for board of director services.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Malhotra R. Rimmy
(Last)(First)(Middle)
111 SPRINGHALL DRIVE
(Street)
GOOSE CREEK SOUTH CAROLINA 29445
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
HireQuest, Inc. [ HQI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock08/12/2026A1,036(1)A(2)102,924D
Common Stock08/12/2026A4,000(3)A(4)106,924D
Common Stock120,130ISee FN(5)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents shares of restricted stock awarded to Mr. Malhotra in his capacity as a Director of Issuer for Board of Director services. These shares represent compensation in-lieu of a quarterly cash retainer. 864 of these shares vest on November 12, 2026 and 172 shares vest on August 12, 2028.
2. Shares awarded for board service. See note 1. The closing price of the Issuer's Common Stock on Nasdaq on the date of the grant was $16.64 per share.
3. Represents shares of restricted stock awarded to the reporting person in the capacity as a Director of Issuer for Board of Director services. These shares represent an Annual Award pursuant to the HireQuest, Inc. 2019 Non-Employee Director Compensation Plan. These shares will vest on June 15, 2028.
4. Shares awarded for board service. See note 3. The closing price of the Issuer's Common Stock on Nasdaq on the date of the grant was $16.64 per share.
5. Represents shares directly owned by Nicoya Fund, LLC, a Delaware limited liability company. Mr. Malhotra is managing member of Nicoya Capital, LLC, which is the managing member of Nicoya Fund, LLC. Mr. Malhotra disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
/s/ R. Rimmy Malhotra08/14/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR