Hudson Global (HSON) Form 3 — Parks Discloses Common Shares and Preferred RSUs

Rhea-AI Filing Summary

Louis A. Parks filed an initial Form 3 reporting ownership in Hudson Global, Inc. (HSON) following a merger-related exchange of Star Equity Holdings, Inc. securities for Hudson securities. The filing shows 276 shares of Hudson common stock held indirectly via a contributory IRA and multiple restricted stock unit (RSU) awards and restricted stock units for Series A preferred stock received in the merger.

The RSUs include: 380 RSUs granted 11/22/2024 that vest on the first anniversary of that grant date; 417 RSUs granted 3/25/2025 that vest on the first anniversary of that date; 485 RSUs (for Series A Preferred) granted 5/19/2025 and another 485 Series A RSUs granted 8/18/2025, each scheduled to vest one year after their respective grant dates. The filing reflects the exchange ratios and that these awards were received in exchange for specified Star common shares and Star preferred shares under the May 21, 2025 Merger Agreement.

Positive

• Exchange of Star holdings into Hudson securities under the Merger Agreement converted prior Star common and preferred interests into Hudson common and Series A preferred RSUs and shares
• Clear vesting schedules for all RSU grants (each set to vest on the first anniversary of its grant date) provide transparency on when units convert to shares
• Reporting by a company director (Louis A. Parks) demonstrates compliance with Section 16 filing requirements following the merger

Negative

• Direct reported common stock position is small (276 shares held indirectly via a contributory IRA), indicating limited immediate common‑share ownership disclosed on this form
• No monetary values or percentages of outstanding shares disclosed, so the filing does not quantify the economic or ownership stake relative to Hudson's total capitalization

Insights

Financial Analyst

TL;DR: Director received Hudson common and Series A preferred RSUs as part of the Star merger; vesting is time‑based over one year.

The Form 3 documents post‑merger holdings for a company director, reflecting both a small indirect common stock position (276 shares) and material equity awards in the form of restricted stock units convertible to Hudson common and Series A preferred shares. The RSUs derive from an exchange under the Merger Agreement dated May 21, 2025, with explicit vesting on first anniversaries of grant dates (11/22/2024, 3/25/2025, 5/19/2025, 8/18/2025). For investors, this clarifies the timing and form of potential dilution and the director's equity alignment with Hudson, but the filing contains no financial amounts beyond share counts or any transfer/sale activity.

Corporate Governance Expert

TL;DR: Routine Form 3 disclosure showing beneficial ownership arising from a negotiated merger and time‑vesting awards; no departures or unusual arrangements disclosed.

The submission is a standard initial beneficial‑ownership filing by a director after a merger exchange. It specifies indirect ownership via a contributory IRA and multiple RSU grants that vest on defined anniversaries. The filing includes an attorney‑in‑fact signature and an exhibit listing a power of attorney. There are no indicated pecuniary terms beyond share counts, no option exercise prices, and no joint filing. This is a disclosure of holdings, not an operational or governance change.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Parks Louis A.

(Last) (First) (Middle)

C/O HUDSON GLOBAL, INC.

53 FOREST AVENUE, SUITE 102

(Street)

OLD GREENWICH CT 06870

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/22/2025

3. Issuer Name and Ticker or Trading Symbol
Hudson Global, Inc. [ HSON ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock.(1)	276	I	By Contributory IRA

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(2)	(2)	Common Stock.	380	(3)	D
Restricted Stock Unit	(4)	(4)	Common Stock.	417	(5)	D
Restricted Stock Unit	(6)	(6)	Series A Preferred Stock	485	(7)	D
Restricted Stock Unit	(8)	(8)	Series A Preferred Stock	485	(7)	D

Explanation of Responses:

1. Received in exchange for 1,200 shares of Star Equity Holdings, Inc. ("Star") common stock pursuant to the Agreement and Plan of Merger, dated as of May 21, 2025 (the "Merger Agreement"), by and among Star, Hudson Global, Inc. ("Hudson") and HSON Merger Sub, Inc., a wholly owned subsidiary of Hudson ("Merger Sub"), providing for the exchange of 0.23 shares of Hudson common stock for each share of Star common stock on the effective date of the merger (the "Merger").

2. The Restricted Stock Units granted on November 22, 2024 (the "Grant Date") are scheduled to vest upon the first anniversary of the Grant Date.

3. These Restricted Stock Units each represent the right to receive, at settlement, one share of Hudson common stock. These Restricted Stock Units were received in exchange for Star Restricted Stock Units representing the right to receive, at settlement, 1,655 shares of Star common stock.

4. The Restricted Stock Units granted on March 25, 2025 (the "Second Grant Date") are scheduled to vest upon the first anniversary of the Second Grant Date.

5. These Restricted Stock Units each represent the right to receive, at settlement, one share of Hudson common stock. These Restricted Stock Units were received in exchange for Star Restricted Stock Units representing the right to receive, at settlement, 1,816 shares of Star common stock.

6. The Restricted Stock Units granted on May 19, 2025 (the "Preferred Grant Date") are scheduled to vest upon the first anniversary of the Preferred Grant Date.

7. These Restricted Stock Units each represent the right to receive, at settlement, one share of Hudson Series A Preferred Stock. These Restricted Stock Units were received in exchange for Star Restricted Stock Units representing the right to receive, at settlement, 485 shares of Star 10% Series A Cumulative Perpetual Preferred Stock.

8. The Restricted Stock Units granted on August 18, 2025 (the "Second Preferred Grant Date") are scheduled to vest upon the first anniversary of the Second Preferred Grant Date.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	s/ Hannah Bible, as Attorney-in-Fact for Louis Parks	08/22/2025
	** 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 5 (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.
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FAQ

What did Louis A. Parks report on the Form 3 for HSON?

The Form 3 reports 276 shares of Hudson common stock held indirectly via a contributory IRA and multiple restricted stock units convertible to Hudson common and Series A preferred shares received in exchange for Star securities.

How were the Hudson securities received by Louis A. Parks obtained?

They were received in exchange for Star Equity Holdings, Inc. securities pursuant to the Merger Agreement dated May 21, 2025, using the stated exchange ratio in the filing.

What are the key vesting dates for the RSUs reported on the Form 3?

RSUs granted 11/22/2024, 3/25/2025, 5/19/2025, and 8/18/2025 are each scheduled to vest on the first anniversary of their respective grant dates.

Do any reported RSUs convert to preferred stock?

Yes. Two sets of reported RSUs (each totaling 485 units) represent the right to receive Hudson Series A Preferred Stock at settlement.

Was the Form 3 signed and filed by the reporting person?

The signature is by Hannah Bible, as Attorney‑in‑Fact for Louis Parks, dated 08/22/2025, and Exhibit 24 (Power of Attorney) is listed.