HRI Form 4: Director Engquist Granted Shares in Lieu of Cash Compensation

Rhea-AI Filing Summary

John Engquist, a director of Herc Holdings Inc. (HRI), received 59 shares delivered as equity compensation in lieu of cash, resulting in beneficial ownership of 323,359 shares. The reported transaction on 08/15/2025 records an acquisition at an implied per-share figure of $124.76 under transaction code A, and the filing notes the shares were granted in lieu of cash compensation. This Form 4 shows an insider increasing his direct stake through company-paid equity rather than a market purchase, which raises his reported alignment with shareholders without a cash outlay.

Positive

• Director increased direct ownership via an equity grant, raising reported beneficial holdings to 323,359 shares.
• Compensation delivered as equity (shares granted in lieu of cash) can align the director's incentives with shareholders without requiring cash outlay.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received equity in lieu of cash, boosting direct holdings to 323,359 shares, signaling retention-linked compensation alignment.

This Form 4 documents a non-derivative acquisition by a director via a direct grant of 59 shares in lieu of cash compensation, recorded at $124.76 per share and bringing total beneficial ownership to 323,359 shares. For an analyst, the item is routine compensation reporting rather than an active market buy, so it reflects governance/compensation policy more than a market opinion by management.

Corporate Governance Expert

TL;DR: Small equity grant to a director aligns incentives but is immaterial to ownership concentration.

The filing explicitly states the grant was made in lieu of cash compensation, a common practice to align directors with shareholder interests. The absolute size—59 shares—increases reported direct ownership to 323,359 shares, but the transaction itself is minor and appears administrative. There is no indication of option exercises, disposals, or unusual transaction codes beyond a standard acquisition code.

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

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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^*

Engquist John

(Last) (First) (Middle)

C/O HERC HOLDINGS INC.

27500 RIVERVIEW CENTER BLVD.

(Street)

BONITA SPRINGS FL 34134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HERC HOLDINGS INC [ HRI ]

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)
08/15/2025

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	08/15/2025		A		59(1)	A	$124.76	323,359	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. Grant of shares in lieu of cash compensation.

	/s/ S. Wade Sheek by Power of Attorney	08/18/2025
	** 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 transaction did HRI director John Engquist report on Form 4?

The director reported an acquisition of shares—59 shares granted in lieu of cash compensation—on 08/15/2025.

How many HRI shares does John Engquist beneficially own after the transaction?

Following the reported acquisition, he beneficially owns 323,359 shares.

What was the reported per-share amount associated with the Form 4 transaction?

The filing lists an implied amount of $124.76 per share for the reported acquisition.

Was the transaction a purchase or compensation grant for HRI insider activity?

The Form 4 explanation states it was a grant of shares in lieu of cash compensation, not a market purchase.

Does the Form 4 indicate any dispositions or derivative transactions by this reporting person?

No. The filing shows a non-derivative acquisition and does not report any dispositions or derivative security activity.