HireQuest (HQI) Board Member Increases Stake Through Equity Compensation

Rhea-AI Filing Summary

HireQuest, Inc. (HQI) – Form 4 insider transaction

Director Jack A. Olmstead reported two equity awards dated 23 Jun 2025:

• 1,334 restricted shares granted in lieu of a quarterly cash retainer. 1,112 shares vest on 23 Sep 2025 and 222 shares vest on 23 Jun 2027.
• 4,000 restricted shares granted as the annual award under the 2019 Non-Employee Director Compensation Plan. All shares vest on 23 Jun 2027.

Both awards were valued at the Nasdaq closing price of $10.12 on the grant date. Following the transactions, Olmstead’s direct beneficial ownership stands at 74,167 common shares, up from 70,176 previously.

No derivative securities were involved, and the filing indicates the awards are part of routine board compensation rather than open-market purchases. While the absolute dollar value is modest, continued equity compensation aligns director incentives with shareholder interests and signals confidence in HQI’s prospects.

Insights

Securities Analyst

TL;DR – Routine equity awards modestly lift insider holdings; signal is mildly positive but not financially material.

The 5,334 restricted shares awarded to Director Olmstead increase his stake by roughly 5.7% (based on reported holdings). Because the shares are compensation-related and not cash purchases, they offer limited incremental information on market sentiment. Vesting schedules that extend to 2027 encourage longer-term oversight, which is shareholder-friendly. From a valuation perspective, the <$55,000 notional value (5,334 × $10.12) is immaterial to HQI’s market cap, so the filing is low impact for trading decisions.

Corporate Governance Expert

TL;DR – Equity-based board pay strengthens alignment; governance structure appears conventional.

HireQuest continues using restricted stock to compensate non-employee directors, replacing cash retainers and providing annual equity grants. Such practice supports alignment of director incentives with shareholder value creation and extends ownership horizons via multi-year vesting. No red flags emerge: awards follow the 2019 plan, disclosure is complete, and Rule 10b5-1 language is included. Overall, governance implications are positive but not materially transformative.

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^*

OLMSTEAD JACK A.

(Last) (First) (Middle)

111 SPRINGHALL DRIVE

(Street)

GOOSE CREEK SC 29445

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HireQuest, Inc. [ HQI ]

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)
06/23/2025

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	06/23/2025		A		1,334(1)	A	(2)	70,176	D
Common Stock	06/23/2025		A		4,000(3)	A	(4)	74,167	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. Represents shares of restricted stock awarded to Mr. Olmstead in his capacity as a Director of Issuer for Board of Director services. These shares represent compensation in-lieu of a quarterly cash retainer. 1,112 of these shares vest on September 23, 2025 and 222 shares vest on June 23, 2027.

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 $10.12 per share.

3. Represents shares of restricted stock awarded to the reporting person in his 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 23, 2027.

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 $10.12 per share.

	/s/ Jack Olmstead	06/25/2025
	** 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

How many HireQuest (HQI) shares did Director Jack Olmstead receive?

He was awarded 1,334 restricted shares as a quarterly retainer substitute and 4,000 restricted shares as an annual award, totaling 5,334 shares.

What is Jack Olmstead’s total HQI shareholding after the transactions?

The Form 4 states he now beneficially owns 74,167 common shares.

At what price were the restricted shares valued?

The awards reference the Nasdaq closing price of $10.12 per HQI share on 23 Jun 2025.

When will the newly granted HQI restricted shares vest?

1,112 shares vest on 23 Sep 2025; 222 shares and the 4,000-share annual award vest on 23 Jun 2027.

Is this Form 4 an open-market purchase or compensation?

The filing clarifies the shares are compensation for board service, not open-market insider purchases.