Rimmy Malhotra receives stock award at HireQuest (NASDAQ: HQI)

Rhea-AI Filing Summary

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

HireQuest, Inc. director Rimmy R. Malhotra reported an equity grant of company stock. He received 1,448 shares of restricted common stock as compensation in lieu of a quarterly cash retainer for board service. According to the filing, 1,207 of these shares vest on June 2, 2026 and 241 shares vest on March 2, 2028.

After this award, Malhotra directly holds 101,888 common shares. Separately, 120,130 shares are held indirectly through Nicoya Fund, LLC. The filing states that Malhotra disclaims beneficial ownership of those Nicoya Fund shares except to the extent of his pecuniary interest.

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

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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 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)
03/02/2026

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	03/02/2026		A		1,448(1)	A	(2)	101,888	D
Common Stock								120,130	I	See FN(3)

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. 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. 1,207 of these shares vest on June 2, 2026 and 241 shares vest on March 2, 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 $11.91 per share.

3. 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 Malhotra	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did HireQuest (HQI) director Rimmy Malhotra report?

Rimmy R. Malhotra reported receiving 1,448 shares of restricted HireQuest common stock. The award compensates him for Board of Director services in lieu of a quarterly cash retainer, reflecting standard equity-based director compensation rather than an open-market share purchase or sale.

How many HireQuest (HQI) restricted shares were granted and when do they vest?

Malhotra was granted 1,448 restricted shares of HireQuest common stock. The filing states that 1,207 of these shares vest on June 2, 2026, while the remaining 241 shares vest on March 2, 2028 under the stock award’s vesting schedule.

What price was used to value Rimmy Malhotra’s HireQuest (HQI) stock award?

The filing notes that the closing price of HireQuest’s common stock on Nasdaq on the grant date was $11.91 per share. This price is used to indicate the market value of the restricted stock award on the day it was granted.

How many HireQuest (HQI) shares does Rimmy Malhotra own directly after the award?

Following the grant, Malhotra directly owns 101,888 shares of HireQuest common stock. This figure reflects his direct holdings after adding the 1,448-share restricted stock award that he received for serving on the company’s Board of Directors.

What indirect HireQuest (HQI) shareholdings are associated with Nicoya Fund and Rimmy Malhotra?

The filing reports 120,130 HireQuest shares held indirectly by Nicoya Fund, LLC. Malhotra is managing member of Nicoya Capital, LLC, which manages Nicoya Fund, and he disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.

Was Rimmy Malhotra’s HireQuest (HQI) Form 4 transaction a market buy or sell?

No market buy or sell is reported. The Form 4 describes a grant of 1,448 restricted shares as compensation for board service, coded as a grant, award, or other acquisition, rather than an open-market purchase or sale transaction.